Published on January 23, 2018 5:49 am, by Pete Lalor
Thorn Group’s Radio Rentals (and the other brands it operates under including RR and Rentlo Reinvented) has agreed to refund almost $20m to customers affected by poor lending practices.
Note that there is also a company trading as Radio Rentals in South Australia that is completely independent of Thorn Group’s Radio Rentals businesses and is not involved in this issue in any way.
ASIC found that Thorn Group’s Radio Rentals had:
Radio Rentals is refunding or writing off around $6.1m in fees they have charged to affected customers who defaulted on their lease payments and refunding the excess payments made by customers.
Radio Rentals have committed to contact affected customers but if you have questions you can contact your closest Radio Rentals store, call the customer support line on 1800 464 732 or register your contact details at:
You can also get more details from ASIC.
We agree with ASIC’s advice to consumers – ‘To all customers renting goods, check your contract to see what your options are at the end of your lease. You may be better off buying the good cheaply than continuing to pay your regular rental payments. You could end up paying much, much more than the product is worth.’
At MoneyBrilliant, we’ve got your back. We’ve automatically contacted MoneyBrilliant customers that might be entitled to a refund. It’s all part of the MoneyBrilliant service. To make sure you know about refunds you might be entitled to sign up now at moneybrilliant.com.au
Peter is the CEO of MoneyBrilliant. He has over 20 years experience in banking, insurance and accounting. Peter has three sons, ranging in age from 16 to 3, is a sport and fitness fanatic and a volunteer firefighter. He is passionate about improving people's lives through making financial services more accessible.