Fox Symes Reviews 

I have been dealing with Fox Symes for a couple of years now and their service has been second to none.
Professional, understanding and friendly staff right from the beginning.
My personal circumstances changed (like so many others) during covid where I was unable to work and struggling to find work, the staff at Fox Symes were genuinely understanding and helpful in arranging a plan that suited me and my current financial situation.
It has taken a massive weight off my shoulders and gives me hope for a better financial future.
For anyone looking for help with their financial issues, don't look any further than Fox Symes.
They gave me room to breathe and the ability to focus on important things like getting back on my feet.
So very grateful.

After weeks of communication and assessments with Fox Symes .. they ensured me that they will help me get back on my feet. I had credit card and personal loan debt with repayments of $315 a week on top of all my other expenses.. I was absolutely drowning financially. Fox Symes contacted all my creditors and advised to stop direct debits, changed contact details to theirs and placed all my accounts on hold. They then came back to me a couple of weeks later and advised that due to my affordability I can’t afford a part 9 debt agreement which was $80 a week. Keep in mind I was paying $315 a week on these bills. They advised that there is a certain criteria that I need to meet financially which was my living expenses. Despite me giving them a detailed budget of everything I pay.. the figures were apparently too low and they changed those figures to what the average person spends.. that all leads to incorrect budget of expenses and so on paper I can’t afford to pay the $80 a week. They then canceled the agreement and advised me to return to paying my bills. Two months after they did all that I now have missed payments reports on my credit rating, default notices and a huge expense in having to pay extra on my bills to catch up repayments on all my loans and credit cards. They put me in possibly the worst financial position I’ve ever had to be in and they just walked away and now I have to call all my creditors and change contact information back to my details and the worst part is my accounts are still on hold/no access because I’ve engaged in a debt agreement enquiry and they are now concerned to open the accounts again incase I do it again or go bankrupt. I’ll be taking this higher and I certainly won’t be a positive advocate to their company and I’ll do all I can to warn people. Not to mention they have already been fined by ASIC for misleading the public for many many cases like mine.

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18-148MR Fox Symes pays $37,800 for misleading advertising

ASIC has issued three infringement notices to debt management firm Fox Symes and Associates Pty Ltd (Fox Symes) for making potentially misleading statements in its advertising. The company has paid a total of $37,800 in penalties.

ASIC took action against Fox Symes after it made a number of potentially misleading representations in banner advertisements, Google ads and on its website. These representations included ‘Free Debt Assistance’,‘Reduce Debt in Minutes’ and ‘15sec Approval’.

ASIC was concerned that such statements misrepresented the cost and speed of Fox Symes’ debt management services.

ASIC Deputy Chair Peter Kell said ‘Debt management firms are often engaging with particularly vulnerable consumers who are seeking assistance with their debts. They should be careful not to misrepresent their services using high impact terms like ‘free’, ‘minutes’ and ‘seconds’ suggesting that debt assistance will be quick and at no cost.’

Read the infringement notices

Background

‘Free Debt Assistance’ appeared in a banner advertisement and on the Fox Symes website. Fox Symes did not disclose to consumers that there was a limit to the ‘free debt assistance’ and that charges apply for most of Fox Symes’ services. The ‘free’ component referred to the initial first phone consultation.

‘Reduce debt in minutes’ appeared in banner advertisements. As Fox Symes’ services generally require engagement with third parties, a reduction in debt cannot feasibly be achieved in minutes, seconds or any other similar short period of time.

‘15sec approval’ appeared in Google paid Adword results. Where Fox Symes provides credit services, the responsible lending requirements under the National Consumer Credit Protection Act 2009 (Cth) apply. Approval could not be provided within such short timeframes.

Fox Symes voluntarily amended its advertising once ASIC raised its initial concerns.

Fox Symes is the holder of Australian Credit Licence 393 280 which authorises it to engage in credit activities other than as a credit provider.

Fox Symes was issued with three infringement notices for the representations. Each infringement notice was for a penalty of $12,600.

ASIC's MoneySmart website has guidance for consumers about what debt management firms can and can't do, which includes information on how consumers can fix their own credit history.

The payment of an infringement notice is not an admission of a contravention. ASIC can issue an infringement notice where it has reasonable grounds to believe a person has contravened certain consumer protection laws.

I was treated absolutely terribly after calling to enquire about a car loan as I have bad credit due to a Financially and Emotionally abusive relationship. My ex partner had taken out loans in my name and due to the abuse at the time I was unable to stand up to him. I was trying to explain to the consultant that I have just finished paying them off and how i just wanted to see if I was able to get loan and the consultant was insinuating that I was making it up and was asking extremely irrelevant questions that actually triggered my Mental Health. I have emailed Fox Symes Complaints team and I’m still waiting to hear back. I work in a financial institution and this is absolutely disgusting service and something needs to be done.

Took out an informal debt agreement, not once was told they charge 12.5% on total debt, was told if the $700 application fee

I pay 20% on my car asked for a better rate or a new loan at a better rate wouldn’t change it

Foxsymes is the most understanding loan company I have ever had the pleasure of doing business with. I have had one or two defaults and at no stage was I pressured to catch up on payments. I eventually made up the payments with the assistance of their professional consultants through their Catch up payment Plan. They understand you everyone has short falls sometimes but always make you feel supported.

Thank you
A very happy customer

Carl was great throughout the whole loan process easy quick and took the time to explain everything

I have been in my car finance with them since 2018. They always been very helpful. In some areas of customer service they can improve more. Overall I’m satisfied

Made it really easy nesh was great to deal with a couple of years ago when I applied. Never had any dramas through my whole experience would definitely use these people again

Generally the service was great, when I applied for a loan. However I never receive statements unless I ask for them.

I am happy I was given a loan although if I waited another few months I wold have been out of BC and able to use companies with a lower interest. It's killing although I'm over 2K ahead in my payments I can't use any of that money to take a break? My interest doesn't reduce? I sure way to encourage repeat clients would be to dangle a better deal a better bang for there buck it can't always be about you.

I have found Fox Symes to be pleasant and very helpful on all occasions I’ve had to interact with them

Fox Symes staff are friendly, caring, prompt, and efficient in all they do. I thoroughly enjoy all of my dealings with this company.

%The people I dealt with were very professional and thorough. All things were taken into consideration and at the end of the day I am a happy customer. Once my current car loan is completed, I will def use them again.

Very good attention to detail and good customer service.

A few years ago my mother passed away and I forgot to put extra money on my account to pay the debts. Foxsymes called when I came back from overseas and said I could fix it by becoming bankrupt. I did not know the consequence of that, and now I cannot buy a house till I have paid off my debts.
For the rest Foxsymes is fine, but maybe a tip to inform people better of the results of becoming bankrupt.

I have no complaints. Quite happy

I found them to be super friendly and helpful when applying for my car loan.
When I have an enquiry, the calls are answered quickly and also resolved quickly.
I would definitely recommend them to friends.

Really helped when I needed it, shame about the random increase in late fees, while I never had to pay it $150 is extremely excessive.

I was unable to get a loan for my car and Fox Symes helped me and they have been very helpful