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hardship variation

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A change to the terms of a loan, due to financial hardship, to make the loan easier to manage. The variation could give you more time to pay, or temporarily pause or reduce repayments.

To apply for financial hardship:

  1. Contact your lender's 'hardship officer'.
  2. Give the details of your loan (account number and the amount you pay).
  3. Say that you want to change your loan repayments because you are experiencing hardship.
  4. Explain why you are having difficulties making payments. Tell them how long you think your financial problems will continue and how much you can afford to repay.