#EveryoneNeedsaPlan: Financial Hardship Options

Recent research conducted by ASIC estimates more than 5 million Australians struggled to make loan repayments in the last 12 months, but many don’t ask for help.

• Asking for help with financial hardship is the first step
• ASIC MoneySmart has some tips for how to ask for help if you're experiencing financial difficulty 
• Step one is to contact your lender and let them know that you’re experiencing financial hardship
• Your lender must consider your request for assistance
• Your lender will work with you to help get your through your financial difficulties
• Arranging assistance with your lender for financial hardship will not impact your credit rating
• If you’re having trouble don’t hesitate to reach out for help