Member Support

Financial hardship assistance is help with your loan when a change occurs in your life that makes it hard to keep up with repayments.

Things like illness or injury, losing your job or having your hours cut, a relationship separation, a natural disaster, or the rising cost of living. It isn’t a penalty and it isn’t a mark against you.

Under Australian credit law, you have the right to ask any lender for hardship help, and we’re required to consider your request properly. When you get in touch, we’ll talk through what’s happened and look at ways to adjust your loan while you get back on your feet.

The earlier you reach out to us, the more options are usually available^{^}.

We look at your situation first and then work out what will actually help, as there’s no single fix that suits everyone. Depending on your circumstances, options may include the following^{^} for a preiod of time:

• reducing your repayments 
• pausing repayments
• pausing Interest or fees or
• extending your loan term to lower each repayment adding missed payments to your loan balance

Some options could mean paying more interest over the life of the loan, and we’ll always explain that clearly before anything changes - so you can decide what’s right for you. Nothing changes on your loan until we’ve agreed on an arrangement together.

No, asking for help does not affect your credit score.

Since July 2022, when a lender agrees to a hardship arrangement, it appears on your credit report as “financial hardship information”. By law, credit reporting bodies cannot use that information when calculating your credit score.

What does hurt your score is missing repayments without an arrangement in place. Those missed payments can stay in your repayment history for up to two years. So, reaching out early is genuinely the safer path for your credit, not the riskier one. It’s the single biggest reason to contact us as soon as you think you might have trouble making your loan repayments.

Your credit report includes your monthly repayment history with us. If we agree on a hardship arrangement, a hardship flag sits alongside your repayment history for the months the arrangement covers. It stays on your report for 12 months, then drops off.

It doesn’t say why you needed help or what the arrangement was. No details of your illness, job loss or anything else are recorded. While you keep to the arrangement, your repayment history is protected: paying an agreed reduced amount is reported as paying on time.

Other lenders can see the flag if you apply for new credit during that time, but it cannot be used in your credit score.

No. You don’t need to gather payslips, medical certificates or bank statements before you contact us. Please don’t let paperwork stop you from making the call.

The first step is just a conversation about what’s happened and what you can manage right now. In some cases, we may ask for supporting documents later to help us set up the right arrangement. We’ll only ever ask for what's really needed. If anything we ask for is hard to get, tell us and we will work around it.

First, we’ll confirm we’ve received your request. Then a member of our team will look at your situation - and may call you to understand it better or ask for supporting information.

Under the National Credit Code we must respond to a hardship notice within 21 days, and in most cases we’re faster than that.

We will acknowledge your request promptly and keep you updated throughout the assessment process.

If we agree on an arrangement^{^}, we’ll confirm the details in writing, so you know exactly what’s changing, for how long, and what happens at the end.

If we can’t agree, we’ll explain why in writing and tell you your options, including your right to take it further.

Call us as soon as you can, and don’t rely on an online form if a payment is about to come out.

Phone 1300 014 870 (9am - 5.30pm AEST, Monday to Friday) and tell the team a repayment is due soon; they can talk through your situation straight away.

Submitting a written or online request does not automatically pause your repayments, so a scheduled payment may still be attempted while your request is being looked at.

If a payment has already been missed, it’s not too late - call us anyway. One missed payment with a plan behind it is far better than several missed payments and silence.

Before your arrangement ends, we’ll be in touch to check how you’re going - you won’t just be switched back to full repayments without warning.

If you’re back on track, your repayments return to normal (we’ll confirm the new amount and date in writing).

If things are still tough, tell us: it may be possible to extend or adjust the arrangement. What matters is that we hear from you.

Keeping to the arrangement, or renegotiating it before it breaks, is also what keeps your repayment history protected on your credit report.

Our aim is to help you keep your car wherever that’s realistic. Your car is usually how you get to work, get the kids to school and get back on your feet.

The first options we’ll look at are ones that keep you driving:

• reducing your repayments 
• pausing repayments
• pausing Interest or fees
• interest reduction or freeze or
• extending your loan term to lower each repayment adding missed payments to your loan balance

If the loan has genuinely become unaffordable, there are still choices you control - like selling the car yourself or voluntary surrender - and we’ll explain each one honestly, including the costs.

Repossession is a last resort, and there are legal protections and required notices before it can ever happen.

Yes, it may be possible, but you should speak with us before you sell your vehicle because your loan is secured against it.

We can provide a payout figure, which is the amount required to repay your loan on a particular day. If the sale proceeds are enough to pay out the loan, the loan can be finalised. If the sale proceeds are less than the payout figure, you may still be responsible for the remaining balance (the shortfall).

If you're considering selling your vehicle, contact us first so we can discuss your options and explain any steps that may be required before the loan can be finalised.

Yes. You can authorise someone you trust to speak with us or act on your behalf, such as:

• a financial counsellor
• a community lawyer
• a family member or friend

For ongoing access to your account, we may ask for a signed Third Party Authority (also known as a Letter of Authority), which allows us to discuss your account with your nominated representative.

If you don't have a signed authority in place, we may still be able to speak with your representative during a call if you are present and give us one-off verbal authority. This authority applies only to that interaction and must be provided each time.

Financial counsellors are free, independent and confidential, and we genuinely encourage using one - they can negotiate with us and any other creditors and help you see your finances as a whole.

If English isn’t your first language, you can also use the free Translating and Interpreting Service (TIS National) on 131 450 to talk with us.

You don’t have to sort this out alone, and you don’t have to rely only on us.

The National Debt Helpline (1800 007 007) offers free, confidential financial counselling. They are independent, they are not selling anything, and they talk to lenders like us every day.

Moneysmart.gov.au (run by ASIC) has free information about budgeting, managing debt and understanding your options.

The Australian Financial Security Authority (AFSA) also provides practical information if you're struggling to pay your debts, including guidance on the formal options available and where to get help.

If money stress is affecting more than your finances:

• Lifeline is 13 11 14 (24/7 crisis support)
• 1800RESPECT (1800 737 732) (family violence and financial abuse support)
• Beyond Blue (1300 22 4636) (mental health support)

Remember, seeking independent advice won't affect your relationship with us, and you can still talk to us about support options at any time.

We understand that financial difficulty can sometimes be linked to broader life circumstances.

If you're experiencing family or domestic violence, elder abuse, mental health challenges, disability, language barriers, serious illness, bereavement, unemployment or other difficult personal circumstances, please let us know.

We'll listen, treat your information with care and work with you to understand your circumstances and identify appropriate support options.

You may also find the following services helpful:

• AskIzzy to find local support services and community assistance
• MoneySmart for information about managing money and financial hardship
• 1800RESPECT for support relating to family, domestic and sexual violence
• Lifeline for crisis support and suicide prevention

These services are independent of Money3 and may be able to provide additional support, information and guidance.

Tell us first. We want the opportunity to review your concerns and work with you to find a suitable resolution.

You can make a complaint by calling our Resolutions Team on 03 9093 8211 or by emailing resolutions@money3.com.au. Our complaints process is free. We will acknowledge your complaint as soon as possible, and generally within 24 hours of receiving it.

We aim to provide a response as quickly as possible. Under our Internal Dispute Resolution process, most complaints are responded to within 30 calendar days. Complaints relating to hardship requests are generally responded to within 21 calendar days.

If you are not satisfied with our response, or we do not resolve your complaint within the required timeframe, you can take your complaint to the Australian Financial Complaints Authority (AFCA).

AFCA is a free and independent dispute resolution service.

AFCA
Phone: 1800 931 678
Website: afca.org.au
Mail: GPO Box 3, Melbourne VIC 3001

Making a complaint will not affect how we treat you, and we can continue discussing hardship assistance options while your complaint is being considered.