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Financial Assistance in Difficult Times

We know this is a stressful time, so we want to be as straightforward and helpful as possible. We also ask that you reach out as soon as you can so we can help you get this sorted out. Here are some questions you might have if your financial situation has recently changed:

Q: What is financial hardship, am I eligible?

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 which many are experiencing as a result of COVID-19

Here’s what we’re doing to help you get back on track:

  • Impacted customers may have the option to reduce their repayments to something that may be more suitable in the current circumstances.

  • If required, we can support you by deferring repayments for a 3-month period.

  • If you are deferring repayments, we will waive our late payment fees during that period.


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 personal loan. What should I do?

If you need extra financial assistance as a result of the COVID-19 outbreak, please send us something for our records to show that you've either lost your job e.g. a letter from your employer, or that you've applied for Government income support e.g. a letter from Centrelink. Alternatively, you may also provide a detailed description as a declaration of your circumstances outlining why you require financial hardship assistance.

Once we receive the above, we will contact you to come up with a suitable arrangement, such as reducing your repayment amount or temporarily put your regular required repayments on hold for a period of 3 months. After this, your ongoing repayments will resume as per 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.


IMPORTANT: You should be aware that by deferring your repayments, the interest on your loan will still apply and you may end up paying more interest over the course of the remaining loan term. Subsequently, your loan repayment amount may be higher to ensure you can catch up on your repayments. If you would like more information about this before deferring your payments, please let us know as soon as possible.

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 contact@wisr.com.au.

Q: Can the government help me financially right now?

You can stay up to date with the Australian Government announcements at australia.gov.au. They recently introduced the Coronavirus Supplement to provide aid to anyone who has lost their jobs during this period.

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 contact@wisr.com.au, be sure to reference your Loan ID.

Q: What is the best way to contact the Wisr customer support team?

You can email contact@wisr.com.au 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 1300 992 007 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.

Want to get in touch?

If you have any questions about how this information may apply to you, please contact out helpful customer support team.

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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.

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