Financial hardship
Struggling with repayments? There are options.
Illness, job loss or a relationship ending can happen to anyone. The earlier you act, the more options you have.
1. Talk to your lender early
Every lender has a team for customers in difficulty. Under consumer credit law, if something unexpected such as illness, injury, losing your job or a relationship ending means you can't keep up, you can ask your lender for a hardship change. That might mean a longer loan term with lower repayments, or pausing repayments for a set time.
2. Get free, confidential help
MoneyTalks is a free financial helpline run by FinCap. Its advisers can help you work out a plan and talk to lenders.
- Phone
- 0800 345 123
- Text
- 4029
- help@moneytalks.co.nz
- Online chat
- moneytalks.co.nz
- Hours
- Mon–Fri 8am–8pm · Sat 9am–4pm · Sun 10am–2pm
3. Let us help
If we arranged your loan, talk to us. We can explain your options, look at restructuring and contact your lender with you.
Things to avoid
- Ignoring letters or calls from your lender. Problems are easier to solve early.
- Taking out high-cost short-term loans to cover mortgage repayments.
- Agreeing to anything you don't understand. Ask for it in writing and take advice.