How can my lender help me with my financial hardship?

A lender may agree to:

  • a payment arrangement
  • capitalise the arrears, which would increase your payments
  • postpone your payments for some time
  • extend the term of your loan and reduce your payments
  • give you time to sell the security property
  • any other reasonable proposal that enables you to eventually repay the loan.

If your loan is not a consumer loan (e.g. it is a commercial loan), it may be more difficult to negotiate a favourable outcome.

Further information about our approach to financial hardship complaints can be found in our Position Statement 2.