Fill in the [brackets]
BEFORE YOU CALL - Account numbers, ID, a list of income and essential weekly costs, and a note of what you can afford to pay. - Say you want the "hardship team" (or "financial difficulty team"). Use the word hardship. SCRIPT 1. "Hi, I'm [name]. I lost my job on [date] and I'd like to apply for hardship help on my [mortgage / card / loan]." 2. Facts: "My income has fallen to $[amount] a week. My essential costs are $[amount]. I can afford $[amount] a [week/fortnight]." 3. Ask: "What options can you offer? Repayment holiday, reduced repayments, interest only, a longer term?" 4. Ask: "Will you stop any fees, penalty interest and collection or enforcement while you consider this? Will this show on my credit report?" 5. Ask: "What do you need from me, and by when? Can you send the application form and confirm in writing?" 6. Close: "Thanks. Can I have your name and a reference number? When will I hear a decision?" IF THEY SAY NO OR OFFER SOMETHING YOU CAN'T AFFORD "Please send me the decision and reasons in writing. Please also tell me about the complaints process and the dispute resolution scheme." AFTER THE CALL: send an email: "Thanks for speaking with me on [date]. To confirm: [what was agreed]." Then send your written hardship application.
Tips
- Don't agree to a plan on the call if you don't understand the total cost. Ask for it in writing.
- If you cannot cover even the reduced amount, say so. Don't promise what you can't keep.
- Free help preparing: MoneyTalks 0800 345 123 (text 4029).
- If the response is poor, escalate to a complaint, then the lender's dispute resolution scheme.
- Keep a log: date, time, name, reference, what was said.
General information, not legal advice. Keep a copy of everything you send. Spotted something out of date? Email help@unemployed.nz.