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Experiencing financial hardship - What Can I Do?

The majority of customers don’t call their bank if they’re feeling like they’re losing control of their finances or experiencing financial difficulty. This is a mistake.

Unfortunately, most customers call when they’re already behind in their repayments or they’ve received a letter from their bank’s collections team. In this instance, your bank may refer to your account being delinquent, in default or in arrears. If that is the case, it’s important to be honest about your situation with your bank. A customer may still be able to receive hardship assistance even if they are in arrears, however the earlier you contact your bank (before you are in arrears) the more likely it is the bank will be able to provide you with help.


  1. Your financial position has changed and you think your repayment capacity may be impacted,
  2. You don't think you can make your next repayment,
  3. You have missed a repayment or
  4. Can’t catch up on your arrears

Can’t catch up on your arrears contact your bank for assistance. The sooner you contact your bank the better.

If you think you are in financial hardship, you should take the following steps:

Step 1: Assess your personal circumstances

Step 2: Call your bank and give a hardship notice

Step 3: Provide information to your bank