Hardship brochure




Financial Hardship


Contact us


If you are having trouble meeting the repayments on your loan you should contact us as soon as possible to discuss your situation. Make sure you are honest. Remember, the sooner you act the easier it will be for us to assist.


If you are unsure about whether you can afford to pay or not, contact a financial counsellor for help (see www.fido.gov.au).


You can ask for a hardship variation


If your loan is covered by the National Credit Code, you have the right to ask us to enter into a hardship variation to:




Note: A hardship variation gives you temporary relief. You still need to pay off your entire loan, but it will be stretched over a longer time period (and you will pay more interest in the long run).


A financial counsellor, community legal centre or solicitor may be able to help you ask for a hardship variation (see www.fido.gov.au).


You do not have to agree to a hardship variation if it is not on the terms you requested.


We do not have to agree to your request to change the terms of your loan.


If we do not agree


If we refuse your request to change your contract because of hardship, you can dispute our decision.


We are a member of an external dispute resolution scheme approved by ASIC, the Credit and Investment Ombudsman (CIO), which may be able to hear your complaint. Please refer to our Complaints and Dispute Resolution Guide for further information.


You can also apply to a tribunal or court in your state for an order to change the terms of your loan. 


Talk to other creditors


You should also talk to all of your other creditors about your situation. Again, the sooner you take action and discuss your financial problems with your creditors, the easier it will be to try and work out a solution. If the credit is covered by the National Credit Code, you can request a hardship variation for those products also.






Other options


Here are some other options that may be that you may wish to consider if you are experiencing financial hardship.