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Financial Hardship
If you are struggling to make your Westlawn loan or lease repayments due to financial hardship, we may be able to help. Unexpected events can happen in life and we understand that anyone or any business may experience financial hardship at some time.
Situations that may cause financial hardship include:
- Illness or injury
- Unemployment or reduced working hours
- Relationship breakdown
- Death in the family
- Sudden changes in income or expenditure, or
- Emergency or natural disaster
If you find yourself in such a situation, and you’re struggling to meet your repayment obligations, we encourage you to contact us as early as possible to discuss your change in circumstances. We will treat any financial hardship request confidentially and with respect. Once you contact us, we can assess your individual situation to see what arrangements or options may be suitable for you.
Here's some more information
If you are having difficulty making loan repayments due to financial hardship, we can work with you in a number of ways:
- We will ask you to provide us with financial information so we can assess your situation
- We encourage you to keep making whatever repayments you can while we assess your request
- We will not default your credit file while we are assessing your request
- If we agree on a plan to assist you, we will confirm this to you in writing
- If we are unable to assist you, we will advise you promptly in writing and help provide you with alternative options
In order to assess any financial hardship request, we will ask for certain information from you. Depending on your situation, this may include:
- Reason why your financial situation has changed
- Your monthly income and expenditure and current liabilities
- Bank statements for the past 3 months
- Medical certificate
- Letter from your accountant
- Your current living arrangements (renting, own your home, or living with family)
- Your current family situation (married, single, have children)
- Latest statements for any accounts you hold outside Westlawn including other loans or credit cards
Having this information available when you make your request will help us assess your application as quickly as possible.
Contact Westlawn about financial hardship
If you are experiencing financial hardship, please contact your nearest Westlawn branch.
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