Options that may be available to you:

Anyone can experience temporary financial problems for a variety of reasons. Whether you are party to a relationship breakdown, encounter job loss or reduced hours, become ill or injured, or suffer the death of a family member, our Hardship Assistance process aims to tailor solutions to help you get back on your feet.

We do not believe in a “one-size fits all” approach. We aim to tailor an approach based on your individual circumstances and address every request in confidence. We can explore a range of options to help you manage through a difficult period including (but not limited to):

• Using advance repayments (if any) to take a “repayment holiday”;
• Extending the loan term;
• Lowering repayments by converting to interest-only; or
• Deferring or reducing repayments for a period of time

What is a loan repayment holiday?

Although it's often referred to as a loan holiday or repayment holiday the accurate term is actually 'deferred payment' plan. To be clear, a deferred payment plan only stops the need for you to make repayments for an agreed time. Your outstanding loan balance will continue accruing interest over this time, which will be added to your debt.

Will there be any impact on my Credit File?

During any loan payment holiday period, your credit file will reflect with ‘H' for Hardship and this may impact your credit score.

You may complete a hardship application for the following change of circumstances:

• Illness
• Injury
• Loss of employment (including a reduction in hours)
• Relationship breakdown
• Death of a family member

If your change of circumstance is not included in the above options, contact your local branch or call us on 0800 229 943 for assistance.

Click here to go to our Hardship Assistance application form.

We may require additional information depending on the purpose of your hardship application, e.g. Doctor’s certificate, redundancy letter. There may be other options available to you if your change of circumstances does not meet any of the above.  Email us at hardship@unitymoney.co.nz to discuss your options.