We understand that sometimes, life can be tough. If you’ve had a change to your personal circumstances, you may find it hard to keep up with your repayments. This article guides you on how the remedies of Commbank Financial Hardship. Experiencing financial hardship is more common than you may think, but getting support is important – and we’re here to help.
Helping our customers understand the options available to them
As new measures are introduced to support all Australians, we regularly update this guide to make it easy for you to find out what options are available.
Download the guide or see the helpful information below.
Coping with the unexpected
Certain events in your life may leave you needing help and support to get back on track financially. For example:
- Changes to your income and expenses
- Losing your job
- A significant life event, such as a relationship breakdown or death in the family
- Injury or illness
- An emergency event or natural disaster
- Coronavirus (see our coronavirus support page for more information)
We may be able to help with tailored payment solutions, including reducing your payments for a period of time, extending your repayment arrangements, or consolidating your existing CommBank debts.
Request financial assistance in NetBank or call us on 13 30 95 if you’re unable to, or maybe unable to, meet your repayments when they fall due. See how missed or late payments may impact your credit report.
For business customers
If you are a business customer and have a business loan or a line of credit, call us on 13 26 07 and we’ll work with you to develop a solution tailored to your needs.
If you’re not in that position yet, there are other ways we can support you.
How we can help
Life is unpredictable – change can come our way whether we’re prepared for it or not.
We’re here to help with challenging circumstances you might be facing, such as the loss of a loved one, unemployment, serious illness, or addiction.
If you’re facing a change in your circumstances, get in touch with us as soon as possible so we can help you manage your financial situation.
Financial hardship
If you’re behind in repaying your debts, don’t hesitate to call us or get in touch via NetBank.
We may be able to give you extra support if you’re going through financial hardship.
Major events, emergencies & life changes
Unexpected events, such as the coronavirus pandemic, bushfires, drought, floods or storms, can have a major impact on your finances.
See our coronavirus support page if you’ve been financially impacted by COVID-19, or our Emergency Assistance Package if you’ve been impacted by an emergency or natural disaster and need financial support. You can also see our specific bushfire support and drought support services.
Illness or loss of a loved one
Losing a loved one is hard enough, without having to worry about finances too.
Find the support you need with managing a deceased estate and understanding what you need to do when a loved one passes away.
If you have an eligible Owner Occupied home loan, our Home Loan Compassionate Care may be able to support you if your spouse or dependent has passed away or is diagnosed with a terminal illness.
Problem gambling & addiction
Problem gambling may not always be obvious.
If you think you or someone you care about may need financial help with staying in control of their gambling spend, discover how we can help.
Separation or divorce
Going through a separation or divorce often means dealing with a range of concerns, including financial ones. We’ve created a financial checklist to help you during this unsettling time.
Planning ahead & aged care
Plan ahead for your future and discover how to set up authorities for managing access to your account(s), including power of attorney.
If you or a family member are considering making the move to aged care, you can also find out how we can help you navigate your aged care options with a financial plan.
Domestic & family violence
If you’re experiencing domestic and family violence, we can provide confidential support to help you with your immediate banking needs.
Financial abuse
Take back control of your finances
Discover how we can help to empower you to take back control of your finances if you’re in a financial abuse situation.
You can also read our Recognise & Recover guide to help you regain control of your finances.
Elder financial abuse
If you think you or a loved one may be experiencing elder financial abuse, you can find out what you or they can do to stay protected and access our Safe & Savvy guide, designed to help the elderly avoid scams, fraud and financial abuse.