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Struggling with repayments?
If you've missed a repayment or think you might miss one, the best thing you can do is act now. We’re here to help.
How we can help.
If you think you might miss or have already missed a home or personal loan repayment or a payment on your credit card or you're over your overdraft limit, the best thing you can do is act now by getting in touch with us. It's important you reach out to us early so we can find a suitable solution to help you get back on track.
Looking to consolidate existing debt or restructure your loan to reduce your payments? Or maybe change your existing credit card to a low interest rate option? Call us on 0800 177 277 weekdays 8am to 6pm or Saturdays 9am to 3pm to explore how we can help. Alternatively, speak to your Relationship Manager or visit us in branch.
If you’ve had a change in circumstances like losing a job, ending a relationship or an unexpected illness or injury, don’t wait until you’ve missed a payment to ask for assistance. Our Financial Solutions team are on hand at 0800 772 771 weekdays 8am to 6pm to discuss ways we can help.
Have you missed a payment and are unsure what to do next? Our Customer Care team can help you with a payment arrangement or other options to help get you back on track. Call 0800 402 802 weekdays 8am to 6pm or Saturdays 9am to 3pm to discuss.
FAQs.
Understanding how loan repayments work and what happens if you can't make a planned repayment is helpful for managing your money.
Tools & resources.
Budgeting advice
MoneyTalks provides free, independent and confidential budgeting advice. If you have concerns about your finances, their financial mentors can talk you through options to help you get on top of your debt.
Budget calculator
Are there any expenses that can be reduced? Our budget calculator can help to assess your income and expenditure and give you good insights into creating a personal budget or reviewing your outgoings
Managing Your Money workshops
Could you benefit from reviewing or developing your money management skills? We have free Managing Your Money workshops and webinars available.
Real stories from Westpac customers
Cathy’s story
Cathy contacted us to say she was really unhappy that most of the repayments on her credit card each month were only covering the interest amount and she was not making headway in reducing her debt. We were able to advise that we offer a Low Rate Mastercard® which has no annual account fee, a lower interest rate on purchases compared to her current credit card and no reward scheme. After weighing up her options, Cathy was happy to change her card type and by taking advantage of a lower interest rate on purchases, was able to start getting on top of her debt.
Agatha's story
Agatha called Customer Care after receiving a text from us regarding her missed home loan repayment. She was late with her home loan repayments and was incurring some default interest. We realised that her loan repayment date was out of sync with her pay date so suggested she look at realigning the payment date to avoid any future missed repayments. We were also able to assist her to transfer funds from another account to clear the loan arrears and get her account up to date straight away
Peter's story
Peter called in after receiving an email from us regarding his missed personal loan repayments. After speaking to him, we realised that things had been a bit tough financially lately for Peter due to a relationship breakdown. Things were now improving but he needed some help to get his loan up to date. Working together we agreed on a payment arrangement that worked within his budget alongside his regular repayments. As a result, he was able to clear the arrears within a few weeks.
Asif's story
Asif called Westpac to talk to us about his two credit cards. We were able to identify that Asif wasn’t struggling financially but was finding it confusing having two cards, two bills and different repayment dates. He would pay one card but sometimes forget about the other.
We suggested he could set up direct debits or automatic payments, but Asif preferred to have just one card and one bill. He wanted to combine both card limits but was unsure how to do this and needed some help getting things sorted. The team at Westpac was able to look into his request and we were also able to provide Asif with information to pay his card via online banking. He was grateful that we had assisted him to simplify his banking.
Frank's story
Frank and his wife had received a letter from us informing them they were behind on their home loan repayments. They called in to see how we could help them as they were going through a very trying time having been impacted by loss of income due to COVID-19. Their tenants weren’t paying the rent in their rental property (also COVID-19 affected) and his wife had also suffered an injury. Frank and his wife were naturally very stressed and unsure of what to do next.
Based on their circumstances we realised that an application for financial hardship assistance might be the most suitable option for Frank and his wife. We were able to transfer them to our specialist Financial Solutions team to complete an assessment and provide a solution that would work to take the financial pressure off for a few months.
Get in touch.
