Pros and Cons of Loans with No Credit

Are you in need of funds? Is bad credit preventing you from securing the cash you need to meet your financial obligations, or to deal with an unexpected emergency? Having a poor credit score can make it difficult to secure a loan – but it’s not impossible. Many lenders offer loans for people with bad […]

Pros and Cons of Loans with No Credit

Are you in need of funds? Is bad credit preventing you from securing the cash you need to meet your financial obligations, or to deal with an unexpected emergency? Having a poor credit score can make it difficult to secure a loan – but it’s not impossible. Many lenders offer loans for people with bad […]

The Best Money-Saving Apps in Australia

Man Using Money Saving App - Cigno

[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]Saving money isn’t easy. Whether finances just aren’t your forte or you’re just learning how to manage your money on […]

Basic Financial Facts and Skills You Shouldn’t Overlook

finance graphic

Do you ever find yourself running out of cash before your next payday? If you do, then you probably aren’t good at managing your personal finances, lacking solid financial skills. If it’s any consolation, you are not alone. The truth is many people live paycheck to paycheck, often with little to no money in their […]

How To Avoid Unnecessary Spending

blue credit card - budgeting - payday loans

When money is at hand, unnecessary spending can be a temptation for anyone. After all, it’s human nature. A part of your brain says save, another says spend.However, you cannot let these impulses take over and make uninformed decisions for you. If you want to improve your spending habits, here are some tips on how […]

What is an Instalment Loan & How Do I Get One?

An instalment loan is any loan, whether personal or commercial, that is repaid over time with set, scheduled repayments. Each repayment is a portion of the amount borrowed plus added interest on the debt. Instalment loans are common, and examples of these types of loans are: Auto loans Mortgage loans Personal loans Student loans. Other […]

How To Teach Your Kids To Save Money

Savings Girl - Cigno Loans

It’s never too early to start teaching children about money. From playing shop, to earning their first dollars doing chores around the house, children start to form money habits from an early age. In fact, children should be able to understand the concept of an allowance by the age of six. So, why not have […]

Loan Rejection: What To Do If You Can’t Get A Loan

coins spilling

When you need money in a hurry, few things can be as distressing as being rejected for a loan – especially when the loan was the last option. At this point, you’ll likely be dreading loan rejection in the future. But it’s also worth mentioning that not all hope is lost. Understand Why Your Loan […]

Tips For Managing Work-Related Expenses

Two people working out expenses together

When tax time comes around each year, keeping track of all of your expenses is essential to make sure we get the most out of our return. The goal of this article is to provide you with a guide to claiming your work-related expenses – what to claim, how to manage them as well as […]

How To Improve Your Credit Score

Entering card details online

It’s hard to overstate the value of having great credit. Like a master key, it opens the door to a wide range of opportunities! Everything from mortgages to car loans become easier to acquire. Ultimately, thanks to the financial savings on interest you encounter, an awesome credit rating is your golden ticket to an improved […]


Ordered by the Federal Court of Australia

The Federal Court of Australia has found that Cigno Australia Pty Ltd (Cigno Australia) and BSF Solutions Pty Ltd (BSF Solutions) have breached the law by engaging in unlicensed credit activity and charging prohibited fees.

In the period from July 2022 to 3 October 2023, over 100,000 consumers have been lent a total of $34 million, and charged fees of over $70 million, under the ‘No Upfront Charge Loan Model’ operated by BSF Solutions and Cigno Australia. At no time has either BSF Solutions or Cigno Australia held an Australian Credit Licence.

The Court also found that Mark Swanepoel (director of Cigno Australia) and Brenton James Harrison (director of BSF Solutions) were involved in these breaches of the law.

With effect from 24 May 2024, the Court has granted permanent injunctions preventing Cigno Australia and BSF Solutions from:

  • demanding, receiving or accepting fees or charges, including amounts of loan principal, from consumers in relation to credit provided under the ‘No Upfront Charge Model’; and
  • engaging in further credit activity pursuant to the ‘No Upfront Charge Loan Model’, including by entering into new agreements with consumers, for so long as they do not hold an Australian Credit Licence.

Cigno Australia was ordered by the Court to, by 5th July 2024, send written communications to consumers who between July 2022 and December 2022 entered into agreements with Cigno Australia and BSF Solutions under the ‘No Upfront Charge Loan Model’.

The Court will later determine whether (among other things) Cigno Australia and Mark Swanepoel ought to pay a pecuniary penalty in respect of this conduct, and whether Mark Swanepoel should be restrained from carrying on a business engaging in credit activity.

Cigno Australia, BSF Solutions, Mr Swanepoel and Mr Harrison intend to appeal the decision of the Court and have filed an application for leave to appeal. If the appeal is successful, some or all of the orders of the Federal Court of Australia may be set aside.

Where can you get more information?

Where to go for further support

You can access legal advice in your state at: Free legal advice –

If you are experiencing trouble with debt, or money worries in general, contact:

  • the National Debt Helpline on 1800 007 007 or online chat (9:30am to 4.30pm, Monday to Friday).

If you need someone to talk to, contact:

  • Lifeline on 13 11 14 (24 hours) or their crisis support online chat or
  • Beyond Blue on 1300 22 46 36 (24 hours) or their webchat