Basic Financial Facts and Skills You Shouldn’t Overlook

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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 […]

The Ultimate Guide To Creating An Emergency Cash Fund

[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]In life, death and taxes are certain. For most people, rainy days are also becoming an absolute certainty and it’s […]

The 5 Most Common Credit Card Myths

Man handing over card

Are you looking to get off on the right foot with your personal finances? Then you should take a look at 5 Basic Personal Finance Facts People Overlook. It can be tricky to know just where you stand with your finances. Many people are full of sage advice that’s just plain wrong, and it’s easy […]

Cash vs. Credit: Knowing Which to Choose

Online Loans Australia Cigno

Do you have a car time deciding when to choose cash or credit? Here is the information you need to choose with financial certainty. When you’re about to make a purchase, do you struggle to make a decision whether to pay with cash vs. credit? If you do, no worries. Deciding between the two is actually […]

Become a Minimalist With Your Budget

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Financial Security: Principles of Minimalist Budgeting As of December 2016, the average Australian household is thousands of dollars in debt. And, on top of that, one in three Australians don’t have savings for retirement. The good news though is if you fall into one (or both) of these figures, you can get out on top. Yes, it will […]

7 Tricks, Tools and Tidbits for Your Financial Budget

Financial Budget sheet

Do you feel like you’re always living paycheck to paycheck? Is your money spreading thin? Here are some tools you should employ for your financial budget. Are you running out of money before your monthly bills are paid? Or just scraping buy? Are you ready to take charge of your finances? Want to make today […]

Financial Habits to Break Today if You Have Bad Credit

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We all have the best of intentions when it comes to our credit. If you notice that everyone else seems to have their credit under control, while you’re spiraling deeper, you aren’t alone. Nearly a third of Americans have bad credit. How do you keep getting into this? The answer might lie in your financial […]

The Complete Guide to Avoiding Payday Loan Scams

With technology becoming increasingly more advanced, it’s becoming easier and easier to fall victim to personal loan scams. When you’re in financial stress and desperately need a loan, it can become even harder to see the signs of a loan scam. By being aware of some common tell-tale signs of a possible personal loan scam […]

How to Get More Value From Your Paycheck Advance

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This just in: Australian household debt is at a record high. The report also mentioned that 30% of Australian households are in some sort of financial stress and that the country is going to go through a debt hangover according to the Financial Counselling Australia. To say that it’s not looking good for a lot […]

Simple Credit Card Debt Solutions

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Being in debt sucks, plain and simple. Australia alone has a substantially shocking margin of household debt nearing the highest worldwide. Your credit, financial opportunities, and general financial standing take a big hit when you fall into debt – and it is very easy to do. You have a huge amount of credit card debt, […]


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