At Possibl, we understand that sometimes life takes an unexpected turn that may make managing your loan repayment difficult.

If you are experiencing difficulties, we encourage you to contact us using the below details.

- by email to hello@possibl.com.au; or
- by telephone, by calling us on 1800 30 42 10.

However, we also understand that sometimes things get tough for an extended period. For these times, Possibl has a formal Hardship Assistance Program.You do not have to contact us in writing or by email. You can still contact us by email or by phone using the above contact details. If you do not feel comfortable contacting us personally you can ask someone else (like a financial counsellor) to contact us on your behalf.

What is financial hardship?

Financial hardship is when you have difficulty in repaying your loan when it is due even though you may want to make the repayment. This may be because of:

- Unexpected change in your circumstances (ie the revenue or income that you expected to use in order to make the repayment is not received);
- Unexpected changes in your income or expenses;
- Changes to your employment status (such as losing your job or having your hours of work reduced)
- Significant life events (such as a relationship breakdown or death in the family)
- Injury or illness
- Emergency event or natural disaster

What happens if you apply for financial hardship?

If you contact us to advise us that you are having difficulties in meeting your loan repayment, a member of our team will contact you to find out more about your individual situation. All requests for hardship assistance will be treated in absolute confidence.

Usually, we will ask you some questions in order to find a solution that is suitable to your individual situation. We may also ask you to provide some documentation to help us make a decision about your application. These documents may include:

- recent payslips;
- evidence of your current income (e.g. account statements or Centrelink statements)
- evidence of medical circumstances (e.g. medical certificate from a qualified medical practitioner,
- other evidence (e.g. separation statement, statement from your real estate agent regarding the failure of your property to sell, or consent from joint owners of a relevant property (where required).

What is the aim of a hardship arrangement?

The aim of any hardship arrangement is to ensure steps are put in place to allow you to continue to meet your obligations during the period in which you are experiencing financial difficulty.

What might happen as a result of an application for financial hardship?

Based on the information you provide, we may be able to set up a short-term payment arrangement to help you get back on your feet. This may include:

- a postponement of payments for a period;
- a variation to your loan;

What happens if Possibl determines that you are not eligible for a hardship arrangement?

If we do not offer you hardship relief and you are not happy with our decision, you can ask to be referred to our internal dispute resolution team. This team will undertake a further review of your individual situation.

What if I am not satisfied with Possibl’s response to my request for a hardship arrangement?

Possibl is a member of the Australian Financial Complaints Authority (AFCA).

If you are an individual or a ‘small business; (ie you employ less than 100 employees) (Eligible Customer) you can refer your concerns to AFCA.

AFCA is an independent dispute resolution services that is provided to Eligible Customers free of charge.

You can contact AFCA on:

1800 931 678 (free call)
GPO Box 3 Melbourne VIC 3001

Once you have lodged a complaint with AFCA, they will contact Possibl directly to begin investigations.