Understanding Unforeseen Hardship
Personal hardship can manifest in various forms, such as a sudden change in job status, illness, injury, or personal relationship breakdowns. These situations, often beyond your control, can impact your financial well-being. We acknowledge that these challenges are unpredictable and can significantly alter your ability to meet loan repayments.
It can be difficult to ask for assistance when your life has an unexpected turn, but we're here to help.
Collaborative Approach: Our team is ready to work with you to find a flexible solution that best meets your needs.
Prompt Contact is Crucial: The sooner you contact us for hardship assistance, the more effectively we can help.
There are multiple ways we can assist you while in hardship
Loan Term Extension: Extend the duration of your loan to lower repayment amounts, making it more manageable
Payment Postponement: Make a variation to the payment schedules, including postponing payments for a specified period.
Flexible Repayment Options: A combination of extending loan terms and altering payment amounts.
While we strive to assist our clients in hardship, there are situations where you may not be eligible.
Consecutive Payment Failures: If you have missed four or more consecutive payments.
Extended Arrears Period: Being in arrears for two or more months.
Recent Hardship Applications: Having made a hardship assistance application within the previous four months.
Hardship Assistance FAQs
Do you want more information? Navigate our comprehensive hardship assistance FAQs for the answers.
Don't delay! The sooner you apply the sooner we can help relieve the financial pressure from unexpected hardship.