Change text size:   Increase font size   Reduce font size  |   Print page:   Print this page
  |   Contact us   
 
consumers
English

Dealing with financial stress  

During the current economic climate you may find it difficult to cope with your financial situation. If you are having trouble meeting your repayments or paying your bills you should do everything you can to prevent your car, home or household goods from being repossessed.

Contact your lender or creditors straight away and try to negotiate alternative arrangements to make your repayments. It is really important that you don't ignore the problem and hope that it goes away because if you leave it, it will only get worse.

If your financial problems are temporary due to illness, unemployment or relationship breakdown you can apply to have your payments suspended or varied due to personal hardship.

For more information on credit and debt problems, personal hardship and where to get help visit the Australian Securities and Investments Commission (ASIC) website MoneySmart.