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Financial Hardship Policy

If you are experiencing hardship it is best that you talk to us as soon as possible.

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1 DOCUMENT SCOPE

1.1 About This Policy

This guide only relates to debts purchased by us under a Notice of Assignment. All other debts  managed by us are subject to our client's own financial hardship policy.

2 What is Financial Hardship?

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We define financial hardship where you want to meet your credit commitments however are unable to due to internal and external factors.

Events that may contribute to financial hardship include, but are not limited to:

  • unemployment

  • injury

  • sickness

  • relationship breakdowns

  • natural disasters

  • domestic violence situations

  • a reduction in household income

 

It is not unusual for most people to experience financial hardship at some stage. We encourage open communication where you are experiencing financial hardship so we may try to assist you.

3 How We May Assist You

Our primary concern is getting you back up-to-date with your repayments. The sooner that you communicate with us the easier it is for us to assist you.

 

If you do not believe that you are under financial hardship but may have missed a payment or need to miss a payment we urge you to speak with us.

4 Applying for Financial Hardship

We offer several options if you wish to make an application for financial hardship. You should contact us as soon as possible:

Online

Email

Phone

Mail

https://www.lcollect.com.au

Hardship@LCollect.com.au

(02) 8923-1600

Suite 101B 55 Mountain Street

Ultimo NSW 2007

5 Now What Happens?

We do request that an application for financial hardship be in writing and be accompanied by evidence supporting your claim.

 

Once your request is received please allow a minimum of 15 business days for us to process your request.

5.1 Understanding Your Agreement

Where your request has been approved we will write to you by post or email, confirming your agreement. Unless agreed otherwise interest and fees, where applicable, may continue to apply.

5.2 Your Rights

If you are not satisfied with the assistance that we have provided you can contact us to discuss your concerns:

Online

Email

Phone

Mail

https://www.lcollect.com.au

Hardship@LCollect.com.au

(02) 8923-1600

Suite 101B 55 Mountain Street

Ultimo NSW 2007

If an issue has not been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers.

Australian Financial Complaints Authority (AFCA)

Phone

Email

Online

Mail

1800 931 678

info@afca.org.au

https://www.afca.org.au

Australian Financial Complaints Authority

GPO Box 3

Melbourne VIC 3001

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Remember to keep in contact with us so we can help you.