Statutory damages in the CCCFA
The amount of statutory damages you are entitled to if your creditor breaches the CCCFA.
The chart below explains how you can work out the amount of statutory damages you are entitled to. Look at your contract and find the “total of all advances made” this amount must be shown in the key information. If you have a revolving credit contract, such as a store card or a credit card, then use the credit limit at the time of the breach.
Look down the left hand column and find your total or credit limit. The figure in the right hand column is the amount of statutory damages the creditor must pay you or deduct from your debt. You don’t need to prove that you have lost money. You are entitled to these statutory damages even if you didn’t suffer any loss.
See here for more information on disclosure and what the creditor needs to tell you.
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| Total advance or your credit limit | Statutory damages |
Under $2000 | 100 |
2,000 | 100 |
2,500 | 125 |
3,000 | 150 |
3,500 | 175 |
4,000 | 200 |
4,500 | 225 |
5,000 | 250 |
5,500 | 275 |
6,000 | 300 |
6,500 | 325 |
7,000 | 350 |
7,500 | 375 |
8,000 | 400 |
8,500 | 425 |
9,000 | 450 |
9,500 | 475 |
10,000 | 550 |
11,000 | 600 |
12,000 | 650 |
13,000 | 700 |
14,000 | 750 |
15,000 | 800 |
17,000 | 850 |
18,000 | 900 |
19,000 | 950 |
20,000 | 1,000 |
21,000 | 1,050 |
22,000 | 1,100 |
23,000 | 1,150 |
24,000 | 1,200 |
25,000 | 1,250 |
30,000 | 1,500 |
40,000 | 2,000 |
50,000 | 2,500 |
(More than) | 3,000 |
