Finding it hard to make repayments?

Hardship assistance can help give you some breathing room during this time. 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 (e.g. crisis cover, redundancy cover, etc), you could consider making a claim first
  • 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.

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.

Next steps.

Call us

Any time from 8am – 6pm Monday-Friday.

Call 0800 772 771

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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.