Hardship Desk
Our team handles all hardship requests with absolute confidentiality, dignity, and care. Speak to us today.
Free NZ Support
For free, independent financial mentoring in New Zealand, contact:
MoneyTalks www.moneytalks.co.nz 0800 345 223Financial Hardship Policy
Effective Date: October 2024 | Version: FHP-NZ-2024-V1
When money gets tight
Unexpected financial pressure can hit anyone, and it shows up in different ways — sometimes a short cash-flow squeeze, sometimes something that lasts longer. If you're finding repayments hard, we'd rather hear from you early so we can help.
Hardship can come from all sorts of situations, for example:
- Injury, serious illness or a medical emergency.
- Losing a job, redundancy, or a business closing.
- A drop in income or big seasonal swings in cash flow.
- Floods, storms or other regional emergencies.
- A relationship breakdown, family violence, or a bereavement.
How we approach it
FG Finance Limited will work with you to find a workable way through a difficult patch rather than leaving you to manage it on your own.
Premium funding isn't the same as a long-term home loan, but we still hold ourselves to the standards in the Premium Funding Code of Practice and look at every hardship request on its own facts.
How to ask for help
Get in touch as soon as you think repayments might be a struggle. You can apply yourself, or nominate someone to deal with us on your behalf — a financial mentor, accountant, lawyer or family member. We'll treat them with the same care we'd treat you.
To understand your situation, we may ask about:
- What's caused the financial difficulty.
- Your current income and the main household or business costs you're covering.
- A repayment amount you could realistically manage for now.
What we may be able to do
Every request is different, so the arrangement depends on your circumstances. Options we can look at include:
A longer term
Stretching the loan out and spreading any arrears across the remaining or extra instalments.
Waiving fees
Setting aside dishonour fees, cancellation charges or default interest.
A short pause
Putting repayments on hold for a short, agreed grace period.
What happens next
We'll look at your request quickly. If we need anything more from you to make a decision, we'll ask within 5 business days of your application.
If we can help, you'll get a written variation setting out the new repayment plan. If we can't, we'll tell you why in writing, through whichever channel you prefer.