How will CIO deal with my financial hardship complaint?

We may deal with your financial hardship complaint in any of the following ways:

  • refer your complaint back to the lender to give it a chance to re-consider its decision
  • negotiate an outcome between you and your lender
  • hold a conciliation conference between you and your lender
  • in certain circumstances, direct your lender to change your credit contract and the payments due under the credit contract.

We will only direct your lender to change your payments if:

  • your loan is covered by the National Credit Code
  • you are likely to be able to repay your loan if it is changed in a particular way.

However, if your financial hardship is long-term or permanent, it may be difficult for you to show us that you will eventually be able to repay your loan.