Hardship plan
Debt, arrears & collectionsA temporary agreement with a lender to reduce or pause payments.
Overview
Hardship plans are designed to help you get back on track.
They may involve reduced payments, frozen interest, or temporary pauses.
Why it matters
- It can prevent further missed payments.
- It provides breathing room to stabilise finances.
- It may be recorded on your credit file.
FAQs
Will a hardship plan affect my credit score?
It can, depending on how the lender reports the arrangement.
How do I request a hardship plan?
Contact your lender and explain your situation as early as possible.
Related terms
Take control of your credit health
Get the complete credit toolkit — all features included.
Start building creditInstant setup. No credit check. Cancel anytime.