What are the common triggers for financial stress?
With the cost of living on the rise, more and more Australians are struggling to meet their financial commitments. While everyone’s financial situation is unique, here are some common triggers for financial stress.
Your business is in a downturn
An unexpected medical emergency
Change in your employment status
Parental leave impacts your income
A sudden reduction in income
You have an unexpected expense or bill
Ask for help
If you’re struggling with your finances, financial counseling support is available.
What can you do if you’re experiencing financial hardship?
If you’re experiencing financial stress there are things you can do to alleviate the situation:
Seek assistance
Speak with us about your situation and we can help you get through the changes in your financial situation.
Reflect
There are options to alleviate your financial stress. Take your time and consider them with us before making a decision.
Be transparent
The more information we have about your situation, no matter how difficult, the better equipped we’ll be to help.
Accept assistance
Getting help in isn’t a sign of failure. It shows that you’re acting responsibly and committed to getting back on track.
There are options to help reduce your monthly repayments
We can consider short term payment arrangements or deferring payments. By understanding your unique circumstances, we can consider what option may best suit you.
How do you get started?
Start by assessing your current financial situation and identifying any areas of concern. Then, head to our Financial Hardship Support page for more information on how we can support you through financial hardship.
What’s next on your loan journey?
Your loan journey doesn’t end here. Explore these resources to take the next step with confidence.
What are the warning signs of loan repayment challenges?
Recognising the early signs of repayment challenges can make a big difference. If you’re finding it harder to meet your loan repayments, it’s important to act early. Here’s what to look out for, and how RedZed can help you get back on track.
What is a complaint?
Any expression of dissatisfaction made to us concerning RedZed Lending Solutions Pty Ltd (as program manager of the RedZed Lending Program) or Perpetual Trustee Company Limited (as lender under the Program) related to their respective products or services, or the complaints handling process itself, where a response or resolution is explicitly or implicitly expected.