Experiencing Financial Hardship?

What is Financial Hardship?

Financial hardship is when customers face difficulty in paying the repayments on loans and debts when they are due. If you are facing when expenses that you are having trouble managing, there are different options for your issues depending on your situation.

It is important that you don’t declare bankruptcy before you completely understand what it involves and the serious consequences of doing so. It is recommended you talk to a lawyer about the topics.

The consequences of declaring bankruptcy include:

  • Being permanently listed on a register that can be accessed by anyone, such as banks, landlords and employers.
  • Having overseas travel banned and potentially having your passport confiscated
  • Experiencing a time where banks/ lending institutions/ service providers won’t allow you to borrow or use their services
  • Being forced to sell certain assets
  • Having your income, employment and business affected
  • Being required to provide additional bonds for utilities, other services and more.

What to do when you are facing Financial Hardship?

If you feel like you are no longer able to complete your repayment or are having a hard time managing your bills and expenses, the first step you should take is to contact us. It is crucial that you let us know about your situation as we can help you find a suitable solution before it turns into a serious matter. We would like to get every request properly acknowledged, and that is why we prefer to get a request in writing. As soon as we receive your request we will provide you with a case number which you should use when contacting us.  

You can do this by completing your details on the Hardship Relief Reques form below. Whatever your problem may be, we will listen to you and will try our best to achieve a solution that you can manage. This may include reducing your loan repayment or temporarily stopping interest being charged. We intend to work with you to reach a harmonious and manageable outcome.

Hardship Relief Request