Unit of competency Outline

Date retreived
22/07/2026 7:30 AM AWST

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Provide group education on consumer credit and debt

Provide group education on consumer credit and debt

Unit of competency
National Code
CHCEDU007
State Code
AVB97
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
06/08/2015
View on TGA
State Implementation and Classification
Approved Date
22/01/2016
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
22/01/2016
Nominal Hours
40
Description
This unit describes the skills and knowledge required to work in the community services and health sector with target groups and individuals to identify their financial literacy education requirements. This unit applies to workers who will be part of a professional team and under the guidance of a supervisor.Financial literacy education provides targeted information and resources to meet particular client needs.Acquisition of financial literacy education competencies alone does not provide sufficient foundation to undertake complex financial literacy education or financial counselling. Where financial issues have the potential to become complex, clients should be referred to a qualified financial counsellor. The skills in this unit must be applied in accordance with Commonwealth and State/Territory legislation, Australian/New Zealand standards and industry codes of practice.
Notes
Elements and Performance Criteria
1. Explain role of credit and options
  • 1.1 Explain concepts and terminology of credit provided by a financial institution and the debt incurred by a borrower
  • 1.2 Compare features of different types of loans or credit facilities
  • 1.3 Identify differences between unsecured and secured loans and explain implications of default on secured and unsecured loans
  • 1.4 Explain the cost of credit
  • 1.5 Explain uses of documentation and the importance of maintaining paperwork
2. Identify common debt issues
  • 2.1 Discuss common types of debt with client group and identify its potential implications in relation to specific client’s situation
  • 2.2 Provide appropriate referrals to specialised services to assist clients to deal with debt issues
  • 2.3 Identify and inform clients of ways to avoid debt as a means to assist client to minimise debt
  • 2.4 Identify and inform clients of range of debt reduction strategies to address client situation
3. Identify complaints and hardship options to address personal financial issues
  • 3.1 Provide general information on informal and formal complaint processes
  • 3.2 Provide general information on hardship provisions
No information
No information
Replaces
State Code National Code Title Type
D2535 CHCFLE303A Educate clients to understand debt and consumer credit Unit of competency