Financial difficulty & hardship support
If you are struggling to keep up with your home loan or other credit repayments, you are not alone and you have rights. Under the National Consumer Credit Protection Act 2009 (NCCP), you can ask for help before things get worse. Greystone Finance is here to guide you through it, confidentially and without judgement.
Your hardship rights
- You can ask your lender to change your loan terms if you are having trouble meeting repayments, this is called a hardship variation.
- A change might mean a short repayment pause, a reduced repayment amount, extending the loan term, or a combination that gives you breathing room.
- Your lender must consider a genuine hardship request and respond to you in writing, generally within 21 days.
- Asking for hardship assistance does not, on its own, affect your credit report, though missed repayments before you ask may.
How to apply for hardship assistance
Talk to us first
Contact your Greystone broker as early as possible, the sooner we know, the more options we can put on the table before arrears build up.
Tell us what changed
Let us know the reason (illness, job loss, reduced income, family circumstances) and whether it is temporary or ongoing. No documents are needed to start the conversation.
We lodge your hardship request
We help you apply to your lender for a hardship variation and advocate on your behalf, then confirm the lender's decision with you in writing.
Contact our hardship team
Reach out to apply for hardship assistance or simply to talk through your options. We will respond promptly and treat everything you share in confidence.
- Phone
- (03) 9191 0274
- Post
- 811/1 Queens Road, Melbourne VIC 3004
You can also access free, independent help from the National Debt Helpline on 1800 007 007, a not-for-profit financial counselling service available Monday to Friday.
General information only. Not personal financial or legal advice. Your rights and available options may vary by lender and by loan.