Latitude Finance Debt Options: Navigating High‑Cost Credit and Finding Relief

Australians are no strangers to easy credit. From interest‑free deals and buy‑now‑pay‑later (BNPL) plans to low‑rate credit cards, many of us swipe or tap without considering the true cost. But what happens when monthly statements balloon out of control? Latitude Finance – a major provider of credit cards, personal loans and interest‑free promotions – has been at the centre of high‑profile court cases and consumer complaints. If you’re struggling tdo keep up with Latitude repayments or worried about debt collectors knocking on your door, this guide will walk you through your rights and the relief options available in Sydney, Melbourne, Brisbane, Perth, Adelaide, Hobart, Canberra, the Gold Coast and across Australia.

Why Latitude Finance? Understanding Their Products and Fees

Latitude Finance operates several brands, including GO Mastercard, Gem Visa, 28° Global Platinum Card, Latitude Low Rate Mastercard and CareCredit, as well as personal and car loans. The company markets 60‑month interest‑free promotions through retailers such as Harvey Norman. However, in 2024 the Federal Court found Latitude and Harvey Norman had misled consumers because the ads failed to disclose that shoppers had to take out a credit card and pay establishment and monthly account service fees. The court noted that consumers were required to enter a “fundamentally different financial arrangement” – a credit card with high interest rates – rather than the simple payment method advertised. This ruling underscores the importance of reading the Key Facts Sheet before signing up for interest‑free deals.

Key Latitude product costs

Product	Interest rate & fees	Key points
Latitude Low Rate Mastercard	0% p.a. on balance transfers for 24 months (3% balance transfer fee); purchase rate 13.99% p.a.; cash advance rate 29.99% p.a. after the introductory period; annual fee $69	Promotional balance‑transfer deals end after two years; any remaining balance reverts to a high cash‑advance rate.
Personal Loans (secured/unsecured)	Interest rates from 8.99% to 29.39% p.a. with comparison rates 10.67%–30.97% p.a.	Comparison rates include fees; a high comparison rate suggests significant charges.
GO Mastercard & Gem Visa	Purchase rates were 27.99% p.a., increasing to 28.49% p.a. from February 2026	Some cards charge a monthly account service fee even if you don’t owe a balance.

These rates are much higher than many personal loans from credit unions or major banks. When an interest‑free period expires, the debt can become expensive quickly. The Federal Court noted that Latitude’s advertising did not make it clear that consumers would incur high interest rates and recurring fees.

BNPL and the new 2024 regulations

Latitude also offers buy‑now‑pay‑later (BNPL) products through GO Mastercard and other brands. The Responsible Buy Now Pay Later and Other Measures Act 2024 caps fees at $320 in the first year and $245 in subsequent years. BNPL providers must hold an Australian credit licence and comply with modified responsible lending obligations. These changes aim to prevent BNPL contracts from becoming debt traps.

Responsible Lending and the Harvey Norman Case

In September 2025 the Full Federal Court dismissed appeals by Latitude and Harvey Norman over the 60‑month interest‑free promotion. The court described the appeals as “barely arguable” and emphasised that consumers would assume the offer was accurate given Australia’s strong consumer protection laws. ASIC Deputy Chair Sarah Court said consumers were unaware of the financial arrangements and deserved to be fully informed. The court found that the advertisements misled shoppers because they failed to disclose the requirement to obtain a credit card with monthly fees and high interest. This case shows that regulators are watching lenders closely and underscores your right to accurate information.

Recognising Financial Hardship

Financial hardship occurs when you’re unable to meet your repayments due to events like rising cost of living, unexpected bills, illness, job loss, relationship breakdown, domestic violence or natural disasters. Latitude defines hardship as an inability to make full repayments on a credit card, personal loan or car loan. If you’re struggling to pay, early contact is crucial. Latitude’s Hardship Care program allows you to apply online or call their team on 1800 220 718 (Monday–Friday 8:30 am–5:00 pm AEST). They promise a response within 21 days and may offer a payment plan or refer you to external support services.

What Latitude Hardship Care can offer

Latitude may:

• Reduce or postpone your repayments for a period;
• Waive or reduce fees and interest charges;
• Extend the loan term to lower monthly payments;
• Refer you to free financial counselling services.

Keep copies of all correspondence and be honest about your situation. If you feel overwhelmed or unsafe (e.g., in cases of financial abuse), contact legal aid or a community organisation for support.

Complaints and Dispute Resolution

If you’re unhappy with Latitude’s response or believe you’ve been treated unfairly, you can lodge a complaint.

1. Contact Latitude’s Complaints Department: Fill out their online complaint form or call 1300 369 340 (Mon–Fri 9 am–7 pm). You can also write to Latitude Financial Services, Complaints Department, 130 Lonsdale Street, Melbourne VIC 3000. Provide your account number, details of the issue and the resolution you’re seeking. Latitude must acknowledge your complaint and provide a reference number.
2. Escalate to AFCA: If Latitude doesn’t resolve your complaint within 30 days or you disagree with the outcome, contact the Australian Financial Complaints Authority (AFCA) on 1800 931 678 or afca.org.au. AFCA provides free, independent dispute resolution for financial services complaints.
3. Report misconduct: For issues such as misleading advertising or irresponsible lending, lodge a report with ASIC. ASIC’s consumer website Moneysmart also offers guidance on lodging complaints about credit products.

Cyber incident and privacy concerns

Latitude suffered a significant cyber‑attack in March 2023, with 7.9 million licence numbers and other personal data compromised. If you were impacted, contact Latitude on 1300 793 416 (Monday–Friday) to discuss credit monitoring and identity protection. Watch out for phishing scams and consider placing a credit ban to prevent further damage.

Dealing with Debt Collectors: Your Rights and Options

Debt collection is legal, but collectors must respect your rights. If you receive a letter or phone call from a Latitude‑hired debt collector, remember:

• Seek legal advice if you receive a court notice; ignoring it could result in your divisible property being repossessed.
• Debt collectors can contact you to ask for payment, offer a settlement or payment plan, review your plan and advise what happens if you don’t pay. They must not harass, trespass or mislead you.
• They can only contact you at certain times: 7:30 am–9 pm weekdays and 9 am–9 pm weekends by phone, and face‑to‑face only if other methods fail.
• You have the right to dispute a debt if it isn’t yours, if you don’t owe the full amount, or if it’s older than six years (three in the Northern Territory) and there’s no court judgment.
• If threatened with legal action, you can ask the debt collector to delay proceedings while you seek free legal advice.

How to manage contact with collectors

Use Moneysmart’s budget planner to work out what you can afford. Then propose a realistic payment plan to the collector. They may agree to smaller regular payments, a lump‑sum settlement or even waiving the debt if you’re on a low income. If the collector’s behaviour is unacceptable, write to them asking to stop; if harassment continues, lodge a complaint with AFCA. You can also speak to a financial counsellor at the National Debt Helpline (NDH) for free, confidential advice. NDH counsellors are available Monday–Friday 9:30 am–4:30 pm via phone on 1800 007 007.

Alternatives to Interest‑Free Deals and BNPL

Interest‑free offers can be tempting, but they often lead to expensive debts when the promotional period ends. Moneysmart recommends:

• Read the Key Facts Sheet and check the length of the interest‑free period and the rate that applies afterwards.
• Pay more than the minimum; minimum repayments are usually designed not to clear the balance before interest kicks in.
• Be aware of high revert rates that apply to unpaid balances and other purchases.
• Review your account regularly because lenders are not obliged to remind you when the interest‑free period ends.
• Consider alternatives like No Interest Loans (NILs), lay‑by or saving up before purchasing.
• If you can’t make repayments, contact the lender to request a hardship variation and talk to a financial counsellor.

Government and Community Support

Latitudes loans are not your only option. There are many support services across Australia:

State/Territory	Free support services	Phone & notes
Australia‑wide	National Debt Helpline – free financial counselling	1800 007 007 (Mon–Fri 9:30 am–4:30 pm)
New South Wales / ACT	Financial Counsellors NSW, Legal Aid NSW, Care Inc. (Canberra)	Provide free counselling and legal advice; help with complaints and court matters
Victoria / Tasmania	Financial Rights Legal Centre, Consumer Action Law Centre	Offer free legal and advocacy services for credit and debt disputes
Queensland	Mob Strong Debt Help (First Nations focus), UnitingCare	Specialised financial counselling for Aboriginal and Torres Strait Islander people and general services
Western Australia	Financial Counsellors’ Association of WA, WA Financial Hub	Free counselling and resources for individuals and small businesses
South Australia	SA Financial Counsellors, Legal Services Commission of SA	Provide legal assistance and financial counselling
Northern Territory	Anglicare NT, Somerville Community Services	Offer financial counselling and NDH assistance; call 1800 007 007 Monday–Friday 8:30 am–4:30 pm

If you have tax debts, contact the Australian Taxation Office (ATO) early. ATO offers payment plans (interest still accrues) and in extreme cases may compromise or release debts for serious hardship. If your debt relates to Centrelink overpayments or child support, Services Australia has dedicated repayment and hardship programs.

Other Debt Solutions

If Latitude Finance debt is overwhelming, consider these options:

1. Refinance or consolidate: Look for a lower‑interest personal loan from a bank or credit union to consolidate multiple debts. Ensure you understand the fees and compare the comparison rate, not just the advertised rate.
2. Debt agreement (Part IX): A formal agreement to pay part of your unsecured debt over time. It’s an act of bankruptcy that appears on your credit file for up to five years. It may be suitable if you can’t afford full repayment but can pay something. Seek professional advice.
3. Informal agreement: Negotiate directly with creditors (like Latitude) for reduced payments or waived interest. Unlike a Part IX agreement, there’s no formal insolvency record, but creditors don’t have to agree.
4. Bankruptcy: A last resort if you cannot pay your debts at all. Bankruptcy generally lasts three years and one day but can have severe consequences. Speak to a financial counsellor or insolvency practitioner before choosing this path.
5. No Interest Loans (NILs): Offer up to $2,000 for essential goods and services. They have no fees or interest and are available from community organisations. NILs can help you avoid high‑cost credit.

Financial counselling: Beyond the NDH, financial counsellors can negotiate with lenders on your behalf, assess your budget and explain all options. Services are confidential and free.

Frequently Asked Questions (FAQs)