## **Loan Information**

**Q: Is there a minimum and maximum funding amount?**

A: $5,000 minimum. No maximum.

**Q: How does repayment work?**

A: Repayment occurs when your property settlement is finalised, and is made from the proceeds you receive. You can repay early and there is no early repayment fee.

**Q: What expenses can I use it for?**

A: The line of credit can be used to pay invoices submitted by a law firm, covering a solicitor’s time as well as disbursements such as expert, counsel, and court fees. Funds are not paid to the client but are paid directly to a law firm. We only pay invoices that the client expressly approves.

**Q: How much would it cost for me to get a loan for $###,###?**

A: We can email you a ‘Fees & Charges’ document based on a loan amount of $###,### that will itemise total fees & interest rate charges. 

**Question: What is the interest rate?**

**A.** Interest is calculated on the outstanding balance of your account. This means that interest is charged only on what you actually use from the date of each draw down – you do not pay interest on the unused credit on your account. For new lines of credit the interest rate **starts from 9.35% per annum** for clients of PartnerPlus law firms. 

**Q: Is your interest rate per annum?**

A: Yes.

**Q: Is the interest rate fixed or variable?**

A: It’s a variable rate that hasn’t changed in over a year.

**Q: What if I’m unable to repay the loan upon settlement?**

A: In our evaluation, we strive to assist individuals with the ability to repay. Our loans are 'non-recourse,' meaning that if there are insufficient funds at settlement to cover the loan, you are not obligated to repay.

**Q: What are your fees?**

A: Helpfully, you will not pay any fees or interest out-of-pocket until you reach your settlement. Any applicable fees and charges are debit to your account and repaid as a lump sum at settlement of your family law property matter. 

Once approved your line of credit is subject to the following:

**Assessment & Administration Fee –** this covers our costs of conducting a full merits assessment of your application based on your unique circumstances. It depends on the complexity of your matter and size of your line of credit, and typically starts from $560 for credit lines up to $15,000.


**Invoice Processing Fee –** this covers the cost of processing invoice payments on your behalf and reviewing updates on the status of your legal matter. The Invoice Processing Fee is 3.75% of each amount drawn on your account.

A caveat fee may also apply depending on your circumstances. We provide a detailed breakdown of fees and charges to all applicants.

**Q: Is it necessary for me to provide security?**

A: We’re different from most lenders in the separation space because taking security isn’t always a requirement. Instead, we assess security requirements on a case-by-case basis. That means our funding can still be provided if you're not on property title. In certain instances, it may be necessary to place a caveat on the property where you are registered on the title and additional fees (payable only when you settle your matter) may apply in circumstances where we take security.

**Q: If I’m not on the property title, can I still be eligible?**

A: Yes. We assess a borrower’s entitlement on a case-by-case basis. 

**Q: Do you place a caveat on the property?**

A: We use caveats to secure our loans on a case-by-case basis. If we do place a caveat, there is an additional fee payable only when your matter is settled. 

**Q: If you place a caveat on my property, what is the fee?**

A: It’s a flat fee of $690.

**Q: And questions about pricing should include the following about interest**
A: Interest is charged on the total amount of credit that you use.  You are not charged interest on credit that you do not utilise. You pay interest on the total credit that you use calculated from the date of the first advance to the date of full repayment rather than when each advance is made.

**Q: For questions about credit licence, the ideal answer is:** 

A: JustFund does not have a credit licence. Unlike a traditional personal loan, JustFund provides non-recourse family law funding. This means that your line of credit and all fees and interest are only repayable from the proceeds you receive from your property settlement.


## **Eligibility and Application Process**

**Q: What types of family law matters are eligible?**

A: We are currently only able to establish a line of credit for family law separations that involve a division of property. This can include parenting matters if it is connected to or being run alongside a division of property. Unfortunately, we are unable to support exclusively parenting matters at this time.

**Q: When can I apply?**

A: You can apply at any stage in the separation process, including at the same time as you engage your family lawyer. You can also apply if you have unpaid legal bills and would like to access funds to support their payment.

**Q: How do I apply?**

A: You can apply directly or your lawyer can apply on your behalf. Our online application can be found by clicking on the button at the top right of this page.

**Q: Does applying affect my credit score?**

A: We perform a “soft” credit check, which does not impact your credit score. The soft check will be noted on your credit report, recording that we have simply requested a soft credit check on you.

**Q: How does the application process work?**

A: You start by completing an application on our website JustFund.com.au. In the top right corner of the webpage click on the ‘Apply Now’ button. The application typically takes 10 - 15 minutes to complete and estimates are fine. This provides us with enough information to understand if you meet our baseline requirements and we typically respond within one business day.

**Q: If I am eligible, how long does it take to get funding?**

A: It depends on how quickly we receive the information requested to assess your application. It typically takes us 1 - 2 weeks to assess your application and provide funding. If it’s an urgent matter, we will prioritise your assessment to try to meet your needs.

**Q: I plan to refinance my home as part of the settlement. Can you still fund me?**

A: Yes. We can assess your application with this in mind to understand your eligibility.

## **Your Legal Team**

**Q: Do I need a solicitor to apply?**

A: You are welcome to apply to understand if you might be eligible for funding. However, we can only establish a line of credit once you have selected a lawyer to act for you on your family law matter. If you don’t have a lawyer, we can always help you find one from our large, national network of family law firm partners.

**Q: What if my chosen family law firm is not a JustFund Partner?**

A: That’s absolutely fine. We are happy to liaise with law firms to get them accredited so we can assist you in establishing a line of credit.

## **Law Firm Partners**

**Q: How do you pay law firm invoices?**

A: We pay invoices that are submitted by the law firm and approved by the client.

**Q: When are invoices paid?**

A: We pay invoices quickly upon client approval. To speak to a member of our team to understand our industry-leading invoice payments policy.

**Q: How do we get an invoice paid?**

A: You can email the invoice to us at __[Invoices@JustFund.com.au](mailto:Invoices@JustFund.com.au)__ and be sure to copy your client asking them to approve payment.

**Q: How do I apply for accreditation?**

A: You can complete a form on our website JustFund.com.au. At the top of our homepage, click on ‘For Lawyers’ to start. Link: __<https://www.justfund.com.au/for-lawyers>.__


**Q: What interest rate is your Beneficiary loan?**

A: For Beneficiary loans, you would need to contact JustFund directly for the interest rate

**Q: What costs are there for a Beneficiary Loan?**

A: For Beneficiary loans, you would need to contact JustFund directly for pricing






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