If you’re feeling under pressure and worried about keeping up with repayments, reach out early. The sooner you reach out, the sooner we can help. As soon as you feel yourself struggling to make a repayment, reach out and see how we can assist you. Call us on 1800 862 502 for assistance.
Life doesn’t always go to plan. Unexpected events or changes to your income, health or personal circumstances can make it hard to keep up with repayments on things like your home loan, credit card or everyday bills – anyone can be impacted. Common causes include:
If you’re concerned, please contact us as early as possible – even before a payment is missed. Early contact often prevents extra fees and credit impacts and gives us more ways to support you.
Financial Hardship assistance is available to Members who hold a credit product with us. Your request is assessed case-by-case and is free and confidential. Enquiring about financial assistance won’t affect your credit score.
We’ll look at your situation and explore practical options that fit your needs. Depending on your circumstances (and product eligibility), support may include:
We can also help you reduce your credit card debt by:
If you’re experiencing a temporary setback, we may consider pausing or reducing repayments, moving to interest only for a time, or adjusting due dates to help you stabilise.
If your situation is unlikely to improve quickly, we can consider options like extending your loan term or restructuring your repayments to better suit your budget.
We can temporarily pause your loan or credit repayments for three to six months, giving you time to get back on track. During this time, you won’t need to make repayments, but interest will continue to accrue and be added to your balance. You can still choose to pay what you can to help reduce interest.
If approved, we can set up a tailored arrangement for three to six months, giving you time to stabilise your finances. This may mean reduced or no repayments for a period, giving you space to regain control while keeping your account in good standing. The arrangement may impact your loan balance, interest payable and future repayment amounts.
If full repayments aren’t possible right now but you can manage interest only, we can discuss a temporary switch (subject to approval). This may help ease your cash flow while you get back on track. Note that total interest payable over the life of the loan will be higher if you switch to interest only, even temporarily.
We can help simplify things by combining your credit card balance into another loan product you already hold with us. This can make repayments easier to manage and reduce the interest you pay.
If you’d prefer more structure, we can convert your credit card to a fixed term personal loan with regular monthly repayments – making it easier to plan ahead.
We can help you lower your approved credit limit as your balance decreases. This can support long term repayment progress and help you avoid unnecessary debt.
We can help you set a higher fixed repayment amount if you want to pay off your balance faster and reduce interest.
Financial hardship arrangements such as repayment pauses or interest‑only periods can increase the total interest you pay over the life of your loan and may result in higher repayments in the future.
Everyone’s situation is different. Once we understand your circumstances and how we can help, you can expect a decision within 21 days.
You can nominate a representative to apply on your behalf; translation services are available.
If you need an interpreter or relay service, we can arrange help (including the National Relay Service).
We’ll work with you to set up the arrangement and agree on next steps. Near the end of any suspended or reduced‑repayment period, we’ll check in and discuss options such as:
If your situation is unlikely to improve, selling or renting out your property may be in your best interests. We recommend independent financial counselling or legal advice before making this decision.
You can contact a financial counsellor or the National Debt Helpline on 1800 007 007 to discuss your current financial situation.
Your safety and wellbeing are our priority. We can provide confidential account support and tailored financial assistance. You can also contact 1800 RESPECT (1800 737 732) for confidential counselling and support.
Practical steps that can help you get back on track:
If you’re struggling, we’re here to help. The sooner you get in contact, the sooner we can discuss how we can help. Call us on 1800 862 502 for assistance.
No. A hardship arrangement won’t stop you from applying for new credit later on. Any new application will be assessed to make sure it’s affordable for you at the time. A temporary hardship indicator may appear on your credit report for up to 12 months, but it doesn’t affect your credit score.
Interest continues to accrue during a pause or while you’re on interest‑only, so your balance and total interest payable may increase. We’ll explain the affects including any changes to future repayments or term.
Yes. Missed repayments may lead to fees, affect your credit score, and can put assets like your home or car at risk. If you keep to an approved hardship arrangement, your payments are shown as up to date, and a temporary hardship note – which doesn’t affect your credit score – appears on your credit report for 12 months.
Missing repayments can attract fees, may impact your credit score, and could put secured assets at risk if things aren’t resolved early. The sooner you contact us, the more options we’ll have to help you get back on track.
Yes. You can make partial or one‑off repayments at any time. Anything you can pay during a financial hardship arrangement helps reduce the interest that accrues.
Yes. If your circumstances improve, you can contact us to cancel the financial hardship arrangement and resume repayments.
Yes. If your situation improves, you can ask to end your repayment pause and return to your regular repayments. If you’re on a hardship arrangement, we’ll review your circumstances with you and talk through the best next step – whether that’s resuming principal and interest, reducing repayments, extending your loan term, or switching to interest‑only for a period (subject to approval).
No. LMI protects the bank, not you. If your property is sold for less than the amount owing, we may claim under the LMI policy, and the insurer may seek to recover the shortfall from you. LMI is different to Mortgage Protection Insurance, which protects you directly.
Please contact us straight away. We’ll help secure your accounts and you may still be eligible for hardship support while we assess what’s happened.
Yes. You can nominate a representative – like a financial counsellor or someone you trust – to apply for hardship assistance for you.
You can speak with a free, confidential financial counsellor through the National Debt Helpline on 1800 007 007. Additional support services are also available for mental health, family and domestic violence, serious illness, and natural disasters.
