What is Financial Hardship support?
Sometimes things happen that can knock you flat, like losing your job, a medical condition, a relationship break-up, a death in the family or a natural disaster. At these times, you might find you simply can’t make your repayments, no matter how much you want to. Talk to us about applying for Financial Hardship, it’s there to give you some breathing room, while you get back on your feet.
Before you consider Financial Hardship, there are some options to consider. If you have insurance (e.g. crisis cover, redundancy cover, etc), you should consider making a claim first. If that’s not an option, then talk to us about applying for Financial Hardship.
If you’re struggling to repay 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’ll do everything we can to help you during this tough time, as well as talk to you about options for getting out of debt.
After you've explored the above options and Financial Hardship Assistance, we can also talk to you about using your KiwiSaver to manage unexpected expenses if appropriate.
How might Financial Hardship help me?
Every situation is different, so we work together to create a solution for you. If you qualify for Financial Hardship, we may be able to help relieve the financial pressure you're feeling on your home loan, personal loan or credit card in a number of ways, including:
- Reducing loan repayment amounts
- Restructuring your loan
- Taking a payment holiday
How to apply for Financial Hardship
1. Talk to us first
Get in touch early, because we’re here to help. We’ll take the time to listen and discuss all the different options and whether Financial Hardship is right for you.
- Call 0800 772 771 between 8am to 5pm, Monday to Friday - Our Financial Solutions team are specialists who will listen and advise you about Financial Hardship or other options that may be suitable for you.
- Request a call back - Choose a time and day that works for you, and we’ll call you back, from Monday to Friday 8am to 5pm.
- Make an appointment with your local branch - Call 0800 400 600 or visit your branch to make a time to discuss Financial Hardship and find out if it is right for you.
You can also choose to start an application online. However, we do recommend talking to us first. That way we can tell you if you might qualify, and chat about any other options that may be available to you.