1. RAMS
  2. About RAMS
  3. Financial hardship

  • Financial hardship - We understand that anyone can experience financial problems. We encourage you to contact us to discuss your change in circumstances.

  • Financial Hardship

    Our approach to financial hardship

    We understand that anyone can experience financial problems. Life can take unexpected turns that sometimes make it difficult for you to maintain your repayments. Whether its illness, loss of employment, a relationship breakdown or something else, we encourage you to contact us to discuss your change in circumstances.

    When we become aware of your situation, we will assess your circumstances on a case by case basis to see what arrangements or options may be suitable for you.

    Some of the things we may be able to offer are:

    A short term fixed/reduced repayment for an amount below the current minimum monthly repayment

    A short term moratorium or deferral of repayments

    Our commitment to you

    A professional consultant will assess your request

    Your individual situation will be reviewed to find a tailored outcome

    If required, we can put you in touch with a free Financial Counselling service

    We will need to know:

    How your circumstances have changed

    How much you can pay towards your accounts

    What changes you expect in your circumstance and by when.

    Are you experiencing financial difficulty?

    RAMS Hardship Assist Team 1800 143 075 - operating hours 8.30am – 6.00pm (AEST) Monday to Friday, closed weekends and public holidays.

    Fill in our online form and we'll contact you within 48 hours.  It is important you include your contact details and other relevant information. If you require Translation Services, please tell us your preferred language.

    Call us

    RAMS Hardship Assist Team 1800 143 075 - operating hours 8.30am – 6.00pm (AEST) Monday to Friday.  

    Closed weekends and public holidays. 

    Online form  

     
    Fill in our online form and we'll contact you within 48 hours.  It is important you include your contact details and other relevant information. If you require Translation Services, please tell us your preferred language.

    Information for Financial Counsellors & Authorised Third Parties

    Below are the standard forms used by Financial Counsellors.

    Financial Counsellor Authorisation Form  

    Statement of Financial Position Form 

    More Information:

    Financial Counselling

    You can obtain free independent advice from a Financial Counsellor. This is a not-for-profit organisation with dedicated people in each State that can assist you with a wide range of financial issues. They will work with you to help you understand your circumstances and provide advice and help you with next steps. Contact a Financial Counsellor on 1800 007 007 from anywhere in Australia.

    Other resources

    Doing it tough - Helpful Financial information from the ABA (Australian Bankers' Association Inc)

    Financial Counselling Australia (FCA) - FCA is the peak body for Financial Counsellors in Australia

    MoneySmart - an initiative of the Australian Securities & Investments Commission (ASIC) which offers tips and tools to help you make the most of your money.

    National Debt Helpline - a not-for-profit service that helps people in Australia tackle their debt problems.

     

      • Yes, with your signed approval we can discuss and negotiate a solution with your nominated representative such as a Financial Counsellor or other third party.

      • We will look at your individual situation and provide a tailored solution. This may be for a short, medium or long period of time depending on your circumstances.

      • We will advise you in writing of the reason for the decline. However, even if we decline hardship assistance we may provide other assistance on a case-by-case basis. You may wish to seek further financial advice from a financial counsellor or other third party, about the options available to you.

        If you are not satisfied with our response or handling of your complaint, you may be able to lodge your complaint with a free, independent external dispute resolution scheme, the Australian Financial Complaints Authority. Their contact details are:

        Online: www.afca.org.au 
        Email: info@afca.org.au
        Phone: 1800 931 678
        Mail: Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001

      • We will endeavour to contact you during the nominated time on the number provided, within 48 hours of receiving the information.

      • Solutions are assessed on a case by case basis and you may need to provide some further information such as Centrelink documents, medical information or proof of income and expenditure. If required our Consultants will discuss these requirements with you.

      • Assistance is determined on a case by case basis and could include reduced or deferred repayments. We are committed to working with you to provide a solution that will better your financial position.

      • Once we are aware of your financial difficulty we will suspend collections activity for 21 days, while we are assessing your situation, as per legislative requirements. This will enable you to provide us with any additional information if applicable. If we agree to provide you with hardship assistance and you comply with the terms of your arrangement, there will be no collections activity during any approved assistance period.

  • Financial hardship request for assistance 

    This information will be sent to us directly. The form can be completed any time 24 hours a day, 7 days a week. It is important you include contact details and other relevant information.

    *Indicates mandatory field

    First name*:
       
    Last name*:
       
    Date of birth*(dd/mm/yyyy):   
       
    Account no*:      
       
    Phone*:       
       
    Best time to call:  
       
    Other details*:
    - How your circumstances have changed
    - How much you can pay towards your repayments
    - What changes you expect in your circumstances and by when