Knowledge base | MoneyPlace Help & support

What to do if you are in financial difficulty and cannot repay your loan

We understand that sometimes times are tight. We also understand that unexpected life events can arise and throw you off-guard.

If you can not pay your loan, the sooner you take action the better.

Please note that any late or default payments will be reflected in your loan repayment history which may affect your credit score.

If you find yourself in one of the following situations, you may qualify for help under our hardship program to get you back on track:

  • a loss of employment or reduced hours
  • prolonged illness or injury
  • a relationship breakdown
  • being overcommitted 
  • natural disaster
  • lost of a loved one 

If are in financial difficulty or are behind on your loan, you should get in touch with us on 1300 008 003 or borrow@moneyplace.com.au

Our team will help you make an application for financial assistance and, if you qualify, help tailor a solution relevant to your situation.

We may be able to help you to repay your debt by varying your contract (for example, changing the amount or timing of your repayments).

You should also get in touch with your utility companies, and any other lenders you have a relationship with, to see how they can also help you.

If you need further help and information about your options for managing your debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor. This is a free service.