Financial hardship is when you are unable to make repayments on loans, utilities, or household debts due to changes in your financial situation.

Life can take unexpected turns, and sometimes managing bills or repayments on loans and debts can become overwhelming. If you are unable to meet your financial commitments, this is called financial hardship. It means you may not be able to pay loans, utilities, or household debts as agreed, but you can contact your lender to explain your situation and request to speak to their hardship team to discuss possible support options. Some common reason people experience financial hardship are job loss or reduced income, illness or medical issues, relationship breakdown or separation, unexpected expenses (e.g. repairs, emergencies), rising cost of living pressures.

Financial hardship support can involve:

• Help when you can’t pay loans, utilities, or household debts
• Contact your lender directly about hardship
• Request to speak to the lender’s hardship team
• Discuss repayment changes or short-term arrangements
• Adjusted or paused repayments depending on circumstances
• Support to manage essential bills during financial difficulty