Financial Hardship ANZ
Financial hardship assistance
Financial hardship can happen to anyone, whether due to unemployment, illness or simply the rising cost of living.
If you’re having trouble making your repayments, for any reason, call our Financial Wellbeing Assist Team or complete the online form and together we can work on a plan to get you back on track.
On this page
What is financial hardship?
In simple terms, financial hardship is when you’re unable to pay your bills, whether that’s your mortgage, credit card or even your electricity and water.
In many cases you may only need assistance for a couple of months, but sometimes support can last for a year or more.
There are many reasons why someone might experience financial hardship:
Unemployed or reduced income
Apply for support early
If you're worried about making your payments now or in the future, let us know as soon as possible so that we can create a plan to help you through this difficult time.
Your credit score may be affected if you miss your repayments without entering a hardship arrangement. Find out more about financial hardship and your credit report.
How to apply
1. Prepare your application
To create the right plan for you, we first need to know a little more about your income, expenses and debts. Download the example form below to see what information you may need to provide.
2. Apply for assistance
Complete the online form or call us to apply over the phone. Applications usually take 20-30 minutes.
You can also nominate someone to apply on your behalf, such as a financial counsellor or family member, and translation services are available.
3. We'll be in touch
Once you've completed your application, the Financial Wellbeing Assist Team will give you a call in approximately 5-10 days.
We'll discuss what support is available and may ask for more information or supporting documents.
Ready to apply? As soon as you lodge your application, we can start working to find a support plan for you.
How ANZ can help
When you apply for financial hardship assistance, we’ll assess your financial position and propose a plan that best suits your needs. This could involve:
Payment relief
A full or partial pause on your home loan, credit card or personal loan repayments.
Interest only conversion
A temporary switch to an interest-only loan, meaning you pay only the interest component of your mortgage for a set period.
Delayed payments
An arrangement to repay any missed payments over a set period when your hardship support ends.
Loan contract variation
A permanent change to your contract, such as a term extension or agreement to add missed payments to the total loan amount.
Financial counselling and support
While financial hardship can be challenging, there are many free and confidential services available to help you navigate this difficult time.
If you're unsure what your next steps should be, talking to a financial counsellor can help you better understand your options and manage your debt.
National Debt Helpline
Financial counselling service that provides free and independent advice to people facing financial hardship and crisis.
Way Forward
Free debt relief advice and assistance to help you manage repayments and create new payment plans with lenders.
Moneysmart
Easy-to-use tools and tips to help you manage your money, plan for the future and pay off debt.
Family and domestic violence
If you are impacted by financial hardship and experiencing family violence or financial abuse, call ANZ Specialist Customer Connect on 1800 517 167
We'll support you if you're affected by family violence or financial abuse. Find out what help may be available.