Hardship

What to do if you suffer unforeseen hardship?

If you are unable to keep up your payments because of an unexpected event that causes you hardship, for example illness, injury, loss of employment or the end of a relationship, you can apply to us for a hardship variation.

To apply for a hardship variation you need to make a request to the creditor in writing which explains your situation and requests one of the following variations:

• Extending the term of the contract and reducing the amount of each payment due under the contract accordingly (without a consequential change being made to the annual interest rate(s));
• Giving you longer to pay by postponing, during a specified period, the dates on which payments are due under the contract (without a consequential change being made to the annual interest rate(s)); or
• Both of the above – postponing payments for a specified time and reducing the amount of your payments by extending the term.

Do this as soon as possible because, if you leave it for too long, the creditor does not have to consider your application.

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