For those who have gotten a standard notice and/or the loan provider is threatening legal proceedings, you will need to act urgently. You ought to instantly:

  1. Send a page towards the loan provider asking for a variation of one’s agreement on the basis of hard­ship (when you have maybe maybe not sent one). Should this be impossible band the lending company and have for a variation due to pecuniary hardship.
  2. Lodge an application in writing or online in EDR, scheme, which will be administered because of the Financial that is australian Complaints (AFCA). Its contact information are:
  • Ph: 1800 931 678
  • E-mail:
  • Online:

ESSENTIAL: The lender cannot commence court proceedings against you after you have lodged a written dispute with AFCA before the dispute is set (or AFCA considers it cannot consider carefully your dispute).

3. Get advice that is legal.

IF a STATEMENT has been received by you OF CLAIM

  1. In NSW you’ve got 28 times through the date you might be offered with a declaration of claim to register a defence. Following the 28 times has elapsed the lending company can put on for judgment. It is strongly recommended you lodge with AFCA rather than file a defence in Court. You have to lodge with AFCA prior to the loan provider will get judgment, so lodge with AFCA at the earliest opportunity. (See point 2 above).
  2. If you lodge online with AFCA you will definitely instantly obtain an acknowledgment that the dispute happens to be lodged.
  3. Once you’ve lodged in EDR the financial institution should never connect with get judg­ment before the matter is managed by AFCA.
  4. In the event that loan provider continues to be threatening to obtain judgment ring AFCA on 1800 931 678 and let them understand this and obtain advice that is legal.
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Then those lenders have obligations to work with you if you are in financial hardship if your lender is bound by the Code of Banking Practice (banks), the Customer Owned Banking Code of Practice (credit unions / building societies) or a member of the Mortgage & Finance Association of Australia. These responsibilities may protect your loan regardless of if the Code will not use or you might be a business or investment borrower. You need to use a breach of these responsibilities as explanation to grumble to AFCA.

You really need to nevertheless contact the financial institution and explain your position. Require a decrease (or postponement) in your repayments for time frame. In the event that lender agrees, verify the contract on paper. Keep a duplicate of this page. In the event that loan provider will maybe not concur, you ought to keep making several of your repayments (when you can) and obtain advice from the counsellor that is financial claim to AFCA, in case your loan provider is an associate.

In the event that loan provider will perhaps not consent to alter in repayments have advice. If court procedures are commenced, you have to get advice that is legal.

In the event the financial hardships will tend to be longterm, it is suggested you obtain a monetary counsellor to work with you.


See our Getting assistance reality sheet for a summary of additional resources. If you’re in monetaray hardship by having a true house loan see our Mortgage anxiety reality sheet.

Last updated: 2019 september.

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