When the unexpected happens and you have difficulty managing your Gem repayments, our Hardship Care team is here to help you get back on track.
What is financial hardship?
Financial hardship is when you want to make your repayments on a Gem credit card, personal loan or car loan, but can’t.
Financial hardship can be caused by many unexpected factors, and some of these may include:
- Injury or illness
- Unemployment or a reduction in income
- Relationship breakdown
- Mental health issues
- Domestic or family violence
- Financial abuse
- Problems with gambling
- Natural Disasters
How can we help?
Experiencing hardship can leave you feeling overwhelmed and unsure of what to do. But even when things aren’t going according to plan, it’s still important to have a plan to get back on track.
Our dedicated and friendly Hardship Care specialists are here to try and provide you with options that may help your situation, while always making sure we keep our commitment to being a responsible lender.
Paying your account on time is important, but we understand that sometimes this isn’t possible. If you’re struggling to make your payments, we encourage you to speak with us as soon as you can as paying late may impact your ability to obtain future credit.
Our Hardship Care arrangements are designed to offer short or long-term solutions depending on your circumstances. Some examples of how we may be able to help are:
- Short-term arrangements (from 3 – 12 months) that are manageable for your circumstances
- Long-term permanent arrangements (12+ months) where we may vary the length of your loan contract or reduce your current interest rate.
- Payment holidays for an agreed term.
For more information refer to: What happens to my account if I am approved for Hardship Care?
How can you apply for Hardship Care?
For the quickest experience, we recommend completing our online Hardship Care application. We are also available over the phone. If you’d prefer to speak to one of our Hardship Care Specialists, give us a call on 0800 433 033. Find more information on how to apply for Hardship Care here.
Once we’ve received your application, we'll let you know if we need more information. Otherwise, we’ll get back to you within 20 business days with an outcome.
For more information refer to: Applying for Hardship Care with Gem
Some useful information.
We want you to know that you’re not alone when going through financial hardship. We’re here to help and these are a few other resources you can turn to for support and guidance.
Free and independent advice.
If you’re worried about your finances, you can get free and confidential advice from an independent service such as MoneyTalks. They offer over-the-phone budgeting support, or they can put you in touch with a local Financial Mentor for face-to-face help.
You’ll find a handy Budget Planner here to help you work out where you’re spending so you can budget more effectively.
Find more support.
- If you need help finding a financial counsellor, FinCap can provide you with contacts in your local area.
- If you need mental health support, we encourage you to talk to the Mental Health Foundation of New Zealand.
- If you’re needing support getting back to work, WINZ may be able to help.
- If you’re experiencing violence or abuse, you can safely contact any of the below to discuss your options in a confidential manner:
- If you’re experiencing problems with gambling, Gambling Helpline NZ or PGF Services may be able to help you.
Want to know more? Click here to view our other articles about Hardship Care.