0
If you're behind, or about to be, "hardship" isn't you asking nicely. It's a process banks and lenders have to have, and asking for it changes what they can do to you while it's being considered.
Worth knowing:
- You ask for a hardship variation. Use the words.
- It can mean pausing payments, reducing them, or extending the loan. You can propose what would actually work for you rather than waiting to be offered something.
- It applies to more than home loans — credit cards, personal loans, and often utilities have their own version.
- If they say no, they have to tell you why, and that decision can be disputed.
Free financial counselling exists and it's genuinely free, not a debt company pretending: the National Debt Helpline is 1800 007 007.
If the bank's own dispute process gets you nowhere, AFCA covers this too: 1800 931 678.
0 replies