Restriction on the use of the terms “financial counsellor” and “financial counselling”
The National Consumer Credit Protection Act 2009 restricts the use of the terms, “financial counsellor” and “financial counselling” and similar terms of similar meaning. The restriction means that only financial counselling agencies who meet the exemption from an Australian Credit Licence can use the restricted terms.
Financial counsellors provide free, confidential and independent services. The purpose of the restriction is to ensure that Credit Licence holders who are not financial counsellors do not mislead people by representing their services as financial counselling (when they are not).