Financial difficulty can be caused by many different situations, and can affect anyone - whether you’re an individual, a couple, joint account holder, small business, borrower or a guarantor. We know these circumstances can often arise quickly and unexpectedly, and could include:
At Heritage, supporting our customers is at the heart of everything we do. It’s not always easy to ask for help, but please try to contact us early if your circumstances change (even if it’s only short term) so we can work out how best we can assist you.
When you feel comfortable to talk, we assure you that we will:
Depending on your circumstances, we may be able to offer Financial Hardship Assistance to members struggling to meet loan or credit card repayments.
If you're finding it difficult to stay on top of your loan repayments, get in touch with us to see if we can help.
Depending on your circumstances, some of the ways we may be able to help include:
When you are ready to talk to us, we will work with you to create a plan of support. At that time we encourage you to be as open as possible when sharing your financial position.
If you do request Hardship Assistance, we encourage you to keep making whatever payments you can while we assess your request.
If you have a joint account, we can work with you in the initial stages of your request without involving the other party, if preferred.
When we receive a request for hardship assistance, we will:
If you’re going through financial difficulty and would like to talk to us about your options, please get in touch with our dedicated team at 1800 222 030 or email firstname.lastname@example.org as soon as you can.
Alternatively, you can apply for Hardship relief by completing the Hardship Relief form and emailing it to Heritage. When the form is received, we will contact you to discuss your application further. If preferred, you can also post the form to: Member Assist Department, Reply Paid 190, Toowoomba QLD 4350, please note, no stamp is required if posted within Australia.
Please note our team may ask you about your income, expenses, assets, and request documents specific to your finances to assist with your application. Our team has been trained for these situations and are here to help you with the next steps.
A financial hardship arrangement is an agreement between you and Heritage. If something has impacted your ability to repay your your credit card, personal loan, car loan or mortgage loan repayments, we can help by reducing them or deferring them for a set amount of time. Financial hardship information is not a reflection of poor credit management. In fact, having a hardship agreement can help protect your credit report from missed repayments.
If you agree to a financial hardship arrangement with Heritage, this will show on your credit report during the arrangement. It will remain on your credit report for 12 months after the end of the agreement. This helps safeguard your repayment history as it will show that a special payment arrangement is in place for a period due to financial hardship.
Being in a financial hardship arrangement won't impact your credit score. However, repayment history information can be included in the calculation of your credit score. So, if you miss a payment under your arrangement, your credit score might be impacted.
What does financial hardship look like in my credit report?
If you've missed one, or multiple loan repayments, this will show on your credit report. Your credit report is updated with your repayment history monthly. Any missed repayments will show on your credit report for 24 months after they are reported.
If you have an approved financial hardship arrangement, your credit report will show the type of arrangement you have with us. This could be a temporary arrangement or a variation to your loan. Your credit report will not include the reason for the hardship arrangement, or any further details of our arrangement.
Does financial hardship exclude me from applying for credit?
Financial hardship information does not exclude you from applying for credit in the future, once your financial hardship arrangement has ended.
If your credit report has financial hardship information, a potential lender may ask you for more information about your current situation to understand whether you are still experiencing hardship.
What happens when I get in touch with Heritage to discuss my hardship situation?
What hardship assistance is available?
Will my hardship arrangement affect my credit report?
If we have agreed to a hardship arrangement with you, this will be noted in your credit report for the time the arrangement is in place.
Being in a financial hardship arrangement with us won’t impact your credit score. However, repayment history information can be included in the calculation of your credit score, so if you have a temporary financial hardship arrangement and you miss a payment under the arrangement, there could be an impact to your credit score.
Can someone else apply for financial hardship on my behalf?
What happens if my circumstances haven't changed at the end of the hardship period?
Will I be contacted by Member Assist after financial assistance has been approved?
What happens if I don't qualify for financial hardship assistance?
If you've been impacted by bushfire or flood please reach out to us as soon as possible. Our contact centre team is available 24/7 by calling 13 14 22 and will work quickly to assess your situation and advise how we can help.
If you’re unable to make your next mortgage, personal loan or credit card repayment due to bushfire or flood impacts, contact our Member Assist Department on 1800 222 030.
For all other Member Relief Package enquiries please call 13 14 22.
Our Member Relief Package includes:
Above all, safety is the number one priority. If you live in an impacted area we encourage you to monitor the situation through the media and emergency service websites.