Finding it hard to make repayments?

Sometimes the unexpected happens, like losing your job, a medical condition, a death in the family or a relationship ending and you may find that you can’t make your repayments.

Hardship assistance can help give you some breathing room during this time. To be considered for hardship assistance, you must have a home loan, personal loan, credit card or overdraft facility with Westpac. If you qualify for hardship assistance, there are a number of ways that we may be able to help with your home loan, personal loan or credit card repayments such as:

  • Reducing your loan repayment amounts
  • Restructuring your loan
  • Taking a payment holiday

In certain circumstances we may also be able to offer alternative financial help to customers who do not qualify for hardship assistance.  Our Financial Solutions team can talk you through the options available.

Before considering hardship assistance there are some other options to consider:

  • If you have insurance that covers an event that has occurred to you (such as redundancy, inability to work due to illness or injury), you should consider making a claim.
  • If you’re having difficulty repaying your loan because your partner has passed away and was a joint borrower, first you’ll need to notify the Deceased Estate Team on 0800 756 872 (8am-5.30pm Monday-Thursday, 8am-5pm Friday). Then talk to us about applying for Financial Hardship.
  • We can also talk to you about using your KiwiSaver to manage unexpected expenses if appropriate.
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Real stories from Westpac customers

Tom was fighting cancer, Emma had recently separated, Pete’s wife had passed away, and Stu was recovering from a serious accident. They all didn’t know how they would be able to make their repayments, so they talked to Westpac.

See how we helped

Impact of receiving hardship assistance

As part of receiving hardship assistance we may need to ask for your credit report from a credit bureau, and report back to them that you’ve received hardship assistance from us. This means that if a credit check is needed for certain transactions, like making a hire purchase or taking out a new rental agreement, it could be harder for you to meet the requirements needed. But don’t worry, your balance and overdue amounts will not be disclosed. Your credit report will only show that you’ve been receiving hardship assistance instead.

We understand that this can be a difficult decision. If you’d like to talk to us further about this impact in order to find the best option for you, just give our helpful Financial Solutions team a call on 0800 772 771 between 8am to 6pm, Monday to Friday.

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Talk to us

  • We’re here to help and can work with you to create the solution that best fits your needs.  Before you apply online, you can talk to us about the options available. Please call 0800 772 771 between 9am to 5pm, Monday to Friday.
  • Or make an appointment with your local branch - Call 0800 400 600 or visit your branch to make a time to discuss hardship assistance and find out if it is right for you.

Apply online

It’s important to contact us sooner, rather than later. If you fall too far behind on your repayments, our Financial Hardship solutions may not be able to help.

To complete an application you will need to provide your financial information including details about your income, expenses, assets and debt repayments.

We recommend you apply in Westpac One so we can respond faster. If you do not have access to Westpac One, you can apply here. However, you can also print an application form, or pick one up from your nearest Branch then return it by email, drop it off at your nearest branch or post.

One of our Financial Solutions team will review your application, and contact you to discuss your options and next steps. This will happen within 5 business days.

If you do qualify, the Financial Hardship solution agreed may be able to start when your next payment falls due.

Apply now