What is Hardship?
Hardship is when you want to make a regular repayment on a credit card, personal loan or car loan but can’t because of something unexpected. That could be:
- Injury or illness
- Unemployment or a reduction in income
- Relationship breakdown
- Domestic violence
- Financial abuse
What is Hardship Care?
We understand that sometimes the unexpected can happen, and you may need additional help with your financial situation. That’s what Hardship Care is all about. Our team will work with you to assist in managing your repayments when you need it most. We’ll help you get back on track with your finances, no matter what situation you find yourself in. And remember, it’s never too early or too late to ask us for help.
Can I apply for Hardship Care if I have been impacted by COVID-19?
Yes. You can apply for Hardship Care if you have been impacted by COVID-19. It’s just one of many factors that can affect financial hardship.
Can I apply on behalf of another person?
Yes. You can apply for Hardship Care for another person if they are the account holder and have authorised you to act on their behalf. They will need to complete and submit an Authorised Third-Party Form before you can act for them.
Does receiving Hardship Care have an impact on my credit reporting?
In New Zealand…Yes. Under New Zealand regulations, your credit report status will be updated to reflect this arrangement if the Hardship Care is approved.
Will any restrictions be put on my account(s) if my application is approved?
In New Zealand…Yes. If approved, you won’t be able to make purchases on any credit card held with Gem Finance until the arrangement has been successfully completed and then three (3) consecutive minimum monthly repayments have been made on time.
Are there any other ways to apply for Hardship Care?
Your quickest way to apply for Hardship Care is with our online application form. If you phone, you might have to wait while we connect you to a team member. If you need to, in NZ call 0800 433 033, Mon-Fri, 8am-6:30pm NZST.
Can I lodge an insurance claim while applying for Hardship Care?
If you have credit card insurance with us, it’s a good idea to lodge a claim before you apply for Hardship Care. Your insurance policy might mean that you’re already eligible for hardship assistance. You can apply for both at the same time if you wish.
How long does it take to complete the application?
You should allow about 20 minutes to complete your Hardship Care application if you have all the relevant information and are ready to go.
What information do I need for the Hardship Care application?
It’s a good idea to have all the relevant information you’ll need before you start your application. That includes information about:
- The account you need help with - account type, account number and any additional account holder details.
- Your current situation – your employment status, reasons why you’re applying, etc.
- Your household income and expenses.
- Any mortgages, personal loans and credit cards you have with other financial institutions.
Can I save my progress during the application?
No. You won't be able to save your Hardship Care application progress as you go at the moment. We suggest you put aside around 30mins to complete your application in one sitting.
What will happen once I have submitted my application?
We will send you a letter telling you the outcome of your Hardship Application within 21 calendar days. We may also get in touch if we need additional information to support your application.
What should I do after I have submitted my application?
While your Hardship Care application is pending, you are still required to make the contractual monthly repayments on your account(s).
What should I do if my circumstances change after I have submitted my application?
If your circumstances change after your application has been submitted and you are no longer require any Hardship Care, you should notify us immediately.
Within NZ - 0800 433 033, outside NZ - +6499411736, Monday to Friday NZST 8 am to 4.30 pm