Consumer Hardship Assistance

What is hardship assistance?

Life happens. We want to be here for you as much as possible when it does.
If you have been impacted from a natural disaster, job loss, an unforeseen illness or injury or had another unexpected change in circumstances, it is important that you speak with our Customer Care Team as soon as possible. The sooner we know, the sooner we can work with you to try and find a solution.

Before you contact us, you might also check if you have loan protection insurance (Consumer Credit Insurance) or are eligible to apply for income protection through your Superannuation fund.

We also encourage you to seek advice from a financial counsellor through a free service. For information and resources that may be available to you (see links below).

How can I apply?

  1. Speak with our Hardship Team today by calling 1800 346 663, or click here to obtain a copy of our Hardship Application form. The form can be printed or completed on your smart phone or other smart devices.  Once you have completed the form, please send it to [email protected], with any relevant supporting documentation.
  1. In order to assess your request, we will ask for information about your current financial situation. Depending on your reason for requesting hardship assistance, we may also ask you to provide us with supporting documentation such as:
  • Bank statements
  • Centrelink Income Statement
  • Pay slips
  • Medical documents
  • Separation Certificate
  • Details of other hardship arrangements with other providers/creditors
  • Any documentation relevant to/supporting your circumstances

Everything you tell us, or provide to us, is treated as confidential.


What happens after I apply?

  1. Once we have your request, along with your supporting documentation, our Hardship team will review your information. It is important that you are honest and open about your financial situation and personal circumstances. The information you provide can help us to tailor an arrangement which is relevant to your circumstances.

Each application is assessed on a case-by-case basis.

  1. You will receive written notice of the outcome of your application as soon as possible but within 14 days of us receiving your documentation.

Hardship assistance, if approved, is designed to assist you get back on track to meet your financial obligations.  It is not a long term solution, and we may need to discuss other options with you that better suit your personal situation.

Have other questions about applying for hardship assistance?

Think that you might be experiencing financial hardship?  Have a chat with one of our team today on 1800 346 663

Further Information and Support Services

ASIC MoneySmart
Free impartial guidance and tools to help improve your personal finances.

1800 555 660

National Help Debt Line and Financial Counselling Australia
Financial counselling is independent, free and confidential, and available Australia wide.  National Debt Helpline have an interactive map that can help you find assistance in your local area.

1800 007 007

Head to Health
An informative hub for Australian mental health resources and organisations.

Family Relationships Advice Line (AU Gov)
A national free call phone service to assist families experiencing relationship or separation issues.

1800 050 321

Hardship frequently asked questions.

Is my credit file affected by a hardship request?

Credit Reporting Bodies decide how to assess the impact of hardship arrangements. Typically, whilst hardship arrangements are recorded on your credit file it doesn’t affect your credit rating. For more information, you can contact our two Credit Reporting Bodies below. 

Equifax – https://www.equifax.com.au/

Illion – https://www.creditcheck.illion.com.au/ 

Why do you need supporting documents?

The information you provide can give us a clearer understanding of your situation, and how we might be able help you during this time.

How long can I receive hardship assistance for?

We may be able to provide you with short to medium term assistance, depending on your circumstances. If your situation is long term or permanent, we may be limited to what options we can provide.

Will I still be contacted while my account is with the Hardship Department?

Our Hardship Team may need to contact you, but all collections and enforcement action is stopped while your hardship request is in progress.

I want to apply for hardship assistance, but I don’t know if I can because I have a joint loan?

If you do have a loan with another borrower, either borrower can individually request hardship assistance.

    Why can’t you give me the same assistance as some of my other credit providers?

    Not all credit providers will be able to provide the same assistance, and not all hardship arrangements will be the same. Finance One is a non-bank lender.  It cannot accept deposits and loan those funds out to customers.  It needs to source its funds elsewhere, which comes at a higher cost.  Finance One is therefore not a subscriber to the Banking Code of Practice.

    What happens after my hardship arrangement has ended?

    Our Hardship Department will be in contact with you before your hardship assistance is due to conclude.

    What if I am not happy with the decision from the Hardship Team?

    If you are not satisfied with the decision of your Hardship Application, please contact our Internal Dispute Resolution Team.

    Can someone assist me with my hardship application?

    You can authorise a third party, such as a Financial Counsellor, to assist you to make your hardship application. You will need to sign an Authority to Act form to give them authorisation to speak with us.

    Can I apply for assistance if I am a Sole Trader or have a small business?
    Discuss with the Commercial team the assistance we can provide for your small business.
    How are hardship arrangements reported? 

    We are only required to report a customer is receiving financial hardship assistance when we formally approve a hardship arrangement in writing.  This means we do not report a borrower is in hardship when we receive an initial request for assistance or when we are considering a hardship application.   However, once a hardship arrangement is approved, we will commence and continue to report a customer is receiving hardship assistance, until the end of their hardship arrangement. 

    If we make a permanent variation to the loan as a result of a customer successfully completing a temporary hardship arrangement, we will no longer report a customer is in hardship and we will revert back to reporting a customer is making their payments or if they fail to make their repayments, that they are in default of their loan agreement.  If a customer does not comply with an approved hardship arrangement, we may end the arrangement early and unless contractual repayments are made, we will report the customer as not making their payments under their loan. 

    Whilst a hardship application is being assessed (or if a customer seeks an internal review of a hardship decision), we may suspend reporting on your loan.  However, this will only occur in limited circumstances.