We know this is a stressful time, so we want to be as straightforward and helpful as possible. As we learn to live with COVID-19 and now begin the clean up of some of the most severe floods we've seen in decades, it's no surprise many Australians are facing a lot of financial pressure. If your financial situation has recently changed, here's how we can help.
Q: What is financial hardship?
Financial hardship typically refers to being unable, or finding it extremely difficult, to meet your financial obligations – namely your household bills or loan repayments. It usually occurs after a change in your personal circumstances.
Our Financial Assistance team can work with you if you've fallen behind or anticipate that you won't be able to meet your upcoming repayments. We’ll spend some time with you to develop a solution tailored to your needs.
Keep in mind that interest continues to be charged over this period and you will need to catch up once you’re back on your feet.
Q: I have concerns about paying my Wisr loan. What should I do?
If you need financial assistance, please contact us informing us of your change of circumstance and why you require support. If you think you'll only need short-term help email@example.com, providing a detailed description as a declaration of your circumstances outlining why you require assistance.i.e. for a month , we may be able to come to provide a prompt solution. We recommend that you call our financial assistance team on 1800 240 008 or email us at
If you're facing more long-term financial hardship, we will ask you to complete a hardship application form. We'll assess your financial position and work with you to develop a solution tailored to your needs.
After your period of assistance, your ongoing repayments will resume as per your agreement with you. If you still cannot make your repayments at that time, we will review this further with you. We will contact you by email and/or SMS to remind you when your next repayment is due and for how much.
Q: What documents do I need to apply for financial hardship?
We’ll tell you specifically what documents we need when you reach out, but you can expect to provide the following:
Documents which prove that:
You have become unemployed with no primary source of income
You have a substantial reduction in your ability to pay your loan.
These may include either:
Letter from your employer
Letter from Centrelink
Bank statements showing a reduction of income
Any other evidence you have to explain your circumstances.
Q: Can I transfer my loan to a family member?
Generally, personal loans cannot be transferred to another person. While you might be able to come to an arrangement yourselves, we cannot legally transfer the loan.
Q: Can I lower my repayments?
There are many options that may be available for us to help you get back on your feet, reducing your regular repayments to get through a period of difficulty is one of those options.
Get in contact with our team by emailing firstname.lastname@example.org or calling our team on 1800 240 008.
Q: How long does it take to process a financial hardship request?
We aim to get back to you as soon as possible as we know it’s important to get peace of mind during this period. We are experiencing higher than normal volumes of enquiries at present, so the best way to get in contact is by emailing us at email@example.com. Be sure to reference your Loan ID.
Q: Can the government help me financially right now?
We’re lucky to live in a country where financial counsellors are available FOR FREE whenever you need it. Yup, the government funds financial counsellors nationally and it’s a totally confidential service.
If you need advice or just the comfort of speaking to a human being, they will listen and can help with things like:
bills or fines you're struggling to pay
being harassed by debt collectors
gas, electricity or phone disconnection
being evicted from your house
car accidents with no insurance
The National Debt Helpline offers free and confidential advice from professional financial counsellors. You can call them Monday to Friday on 1800 007 007 from 9:30 am to 4:30 pm.
Q: What is the best way to contact Wisr's Financial Assistance team?
You can email firstname.lastname@example.org and we’ll respond as soon as we can referencing your Loan ID speeds this process up even more . Or give us a call on 1800 240 008 between 9am and 5:30pm. Please note that our call volumes are higher than usual, so we appreciate your patience and consideration.
We understand how stressful this may be, and we extend our sincerest thoughts and best wishes to you. Please contact us if you have any other questions.
Disclaimer: This article contains general information only, and is not general advice or personal advice. Wisr Services does not recommend any product or service discussed in this article. You must get your own financial, taxation, or legal advice, and understand any risks before considering whether a product or service discussed in this article may be appropriate for you. We have taken reasonable efforts to ensure that the information is accurate at the time of publishing, but the information is subject to change. We may not update the article to reflect any change.