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Financial Hardship

We’re here to help our Members find smart financial solutions and this includes assisting them when they are impacted by financial difficulties.

The most important thing to remember is that you must communicate with us about any financial hardship. We cannot be of assistance if we are unaware of your situation.

Our prudent lending criteria means our loans arrears and defaults is one of the lowest in the industry.

However, we recognise the unexpected can occur - such as an illness or a job loss - and Northern Inland is prepared to work with Members through times of hardship.

Regardless of the amount of your loan, Northern Inland is committed to working with Members who are in financial difficulty and  exploring options that might be available.

Missed repayments:

If you have missed repayments and we do not hear from you, a default notice may be served on you.  A default notice sets out what payments you owe, the amount owed and give you a notice period in which to catch up the payments you owe.  These payments are known as arrears.  To keep the contract going, you must pay the arrears and meet any other payments which fall due during the default notice period, or make other arrangements with Northern Inland by the date set out in the notice.

We can help you consider your options if you contact us at your earliest opportunity.

Reaching an agreement with Northern Inland

If you are experiencing financial difficulties due to:

  • Illness, unemployment or other reasonable cause and
  • Your loan or overdraft is for the 'hardship threshold' amount or less and
  • You believe that you would be able to discharge your credit contract if the terms were changed, you are entitled to apply to Northern Inland to change your contract.

The Hardship Threshold can be found on ASIC's smart money website:

Applications for hardship can only be made where the amount of credit does not exceed the average loan size for new dwellings in NSW.  This amount is set out in the Table of Housing Finance commitments in 'Housing Finance, Australia' as published from time-to-time by the Australian Bureau of Statistics.

We can work with you in a number of ways:

  • We treat your request confidentially and with respect.
  • We ask you to provide us with financial information, so we can assess your situation.
  • We always encourage you to keep making whatever payments you can, while we are considering your request.
  • We help you determine your short term as well as your long term plans.
  • If we agree on a plan to assist you, we will confirm this in a letter to you.
  • If we are unable to assist you, we will advise you promptly in writing.

Options that might be available include:

  • Extending the period of the contract and reducing the amount of each payment due,
  • Postponing for a period, the due payments,
  • Extending the period of the contract and postponing for a period, the due payments,
  • Reducing the limit available on credit contracts,
  • Offering different banking arrangements which may better suit your needs
  • Providing interest-only repayment options.
  • We take the time to explain the options to you, so you can determine what will best suit your current circumstances and meet your medium and long term financial goals.
  • Such an agreement will not change the interest rates that will affect your contract.

What if an agreement cannot be reached?

If Northern Inland does not agree to vary the credit contract, you may be entitled to Northern Inland's external resolution services provider - the Financial Ombudsman Service.

Are you in financial difficulty or having money trouble?

  • Phone: 1300 65 65 81 and ask for the Credit Control Department.

  • Alternatively, if you are in Tamworth, you can call the Credit Control Department direct on (02) 6763 5131 or (02) 6763 5138 for the cost of a local call.

Financial counselling services

Financial counsellors can help you get back on track in terms of your financial commitments, and can guide you in dealing with lenders.

For access to financial counselling services in all States and Territories, go to:


If you have any questions, please contact us 

Find your nearest branch
Call us on 1300 65 65 81
Email us

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