How it works

Unforeseen Financial Hardship

What to do if you suffer unforeseen financial hardship

We understand that life can throw a few curve balls from time to time, so if you find yourself unable to reasonably keep up your loan repayments, we call this an Unforeseen Financial Hardship. If you have been affected by an Unforeseen Financial Hardship, you can request that we vary the terms of your loan contract.

Unforeseen Financial Hardship may be due to personal hardship (e.g. illness or injury), a major life event (e.g. death of a loved one, loss of employment), or another reasonable cause. To apply to have your case reviewed you need to:

  • Make an application in writing (via letter or email) that clearly explains your reasons, with as much supporting documentation as possible that relates to your hardship event.
  • Clearly request one of the following:
    • Postponement of repayments for an agreed period (with the outstanding balance continuing to accrue interest)
    • An extension of the original term
    • A reduction in repayment amounts
    • Placing a cap on the arrears that may be charged under the credit contract
    • Offering information on different arrangements that will better suit your needs
    • Or any combination of the above.
  • Deliver your application to us (via email or post). You cannot apply for Unforeseen Hardship within four months of a previous application, unless the hardship is related to a different matter.

Once we have received your application, we will contact you in writing outlining the process from there. If we do not require any further information from you, a decision will be made within 21 working days of receiving your application.

You can make an application for Unforeseen Financial Hardship:

Via Email: 
customerservice@harmoney.com.au

Via Post: 
Unforeseen Financial Hardship 
Harmoney Services Pty Ltd
389/4 Young Street
Neutral Bay
NSW 2089