Financial Hardship

If you are struggling financially or are worried about your current financial position and are concerned that you might experience difficulties meeting your financial obligations with P&N Bank, you should contact us as soon as possible.

We’ll do our best to work with you and may be able to offer you Financial Hardship Assistance.

We understand that unexpected or exceptional circumstances can occur such as:

injury or illness
unemployment
divorce or relationship separation
unexpected reduction of income

These circumstances can impact your financial situation and your ability to make repayments to your loans and other credit contracts. We are here to help customers experiencing hardship or having genuine difficulty meeting repayments.

Examples of assistance we may be able to provide include, but are not limited to, flexibility or moratorium in meeting your scheduled repayments, or an extension of your loan term resulting in lower monthly repayments.

What should I do if I am suffering financial hardship or having financial difficulties?

If you are unable to meet your financial obligations, as a result of financial difficulties, you may be eligible to receive Financial Hardship Assistance from P&N Bank.

How do I apply?

In the first instance, we recommend you contact our Financial Hardship team on 1300 591 276, 8.30am to 5.00pm AWST Monday to Friday.

Alternatively, you can contact us in the following ways:

Online
Complete the Application for Hardship Assistance Form

You can also print and manually complete a PDF version of our Financial Hardship Assistance application form, which can be returned to us by email or post.

Please ensure any requested supporting documents are included with your application.

Email
[email protected]

Mail
Attn: Financial Hardship Assistance, Credit Management, P&N Bank
PO Box 8609
PERTH BC WA 6849

What supporting information is required with my application?

The information that we will need from you will vary dependant on your individual circumstances but will usually include:

your last two (2) pay slips or a letter from your employer verifying your employment and income (if self-employed, your last two BAS statements)
recent bank statements or transaction history
confirmation from Centrelink of any current benefits paid, and
any other documentary evidence of income or as required

We may also require additional information, which may include:

medical certificate or any relevant medical documents
notice of employment termination
any relevant legal documentation, and
any other documents that may support your application or as required

What happens next?

We will acknowledge your request for financial assistance within 24 hours of receiving your request.

We will then review your application and may be able to offer you assistance if you are suffering genuine financial difficulties or hardship and can demonstrate that you are still able to meet your loan and credit contract obligations if provided with assistance.

We will advise whether we are able to offer you financial hardship assistance, or any other appropriate arrangement within 21 days of receiving your application.

What if I do not agree with P&N Bank’s decision?

Whilst we will always attempt to provide assistance to those that are experiencing genuine financial difficulty, we may not always be able to provide this assistance, for a variety of reasons.

Should you disagree with a decision made by P&N Bank, or wish to make a complaint in relation to your request for hardship, you can utilise P&N Bank's internal dispute resolution (IDR) process by contacting the Member Advocate on 13 25 77 or:
Email: Member Advocate
Mail: Attn: Member Advocate, P&N Bank, PO Box 8609, PERTH BC WA 6849

P&N Bank also subscribes to an external dispute resolution scheme (EDR) provided by the Australian Financial Complaints Authority (AFCA), who can be contacted as follows:
Website: www.afca.org.au
Email: [email protected]
Phone: 1800 931 678 (free call)
Mail: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001

Further Information about Financial Hardship

For further information relating to and for assistance with financial hardship, please visit the following links:

P&N Bank's Financial Hardship FAQ’s
Six simple steps to creating a budget
Easy online calculators
Visit MoneySmart, an online resource provided by ASIC
Financial Counsellors Association for links to financial counsellors within WA
Download our Financial Assistance Guide