What happens if I don’t pay my loan?

Posted October 2026

When considering your first loan, or a new loan, it’s important to know what to do if you miss your repayments when they’re due. 

As a starting point, it’s important that you read and understand all of the loan documents provided to you before agreeing to the terms.  This is especially important for digital documents, where it’s easy to skip to the end and sign.  That new car or those upcoming renovations may be exciting, but this part is essential!

If you’re not sure about any of the information provided, or the conditions of your loan; ask questions.  We’re here to help.

So, what happens when I miss or stop payment on my loan?

Sometimes, life happens! We forget to make a payment or an unexpected expense arises that makes it difficult for us to make our loan repayment.

If this happens our Lending Solutions team is here to help.

Phone – 0800 287 688

Email – solutions@unitymoney.co.nz

At Unity, we work closely with our members to ensure they can continually make their repayments on their loan. And, if the unexpected happens and the current arrangement for your loan doesn’t work, we will work with you to get you back on track.

What happens if I need further financial assistance?

We understand that anyone can experience temporary financial problems for a variety of reasons, so, in certain circumstances you may be eligible to apply for Hardship Assistance.

Can I get independent help with my finances?

Yes, if you still have concerns about your finances, you can ask for free and confidential budgeting and financial capability advice from Moneytalks.

Freephone:  0800 345 123

Email: help@moneytalks.co.nz

SMS: 4029