How can your bank help if you are doing it tough?

Most banks have hardship provisions to help if you are experiencing hardship. 

They are usually limited in how long they can help but they may be able to defer payments for a little while, convert your loan to interest only or in some cases even give you money to help out, such as in the case of Domestic Violence Grants.

 
 We will list any specific programs we become aware of so let us know if your bank helps people in financial distress, especially if it is related to family violence. 
 
STD’s (sexually transmitted debt) is a major issue in predatory behaviour as well as family violence.
 
By predatory behaviour we mean someone who deliberately targets another person, forms a relationship and then tricks, encourages or forces them to give them money.
 
In family violence we mean financial abuse where someone takes control over the family finances making it difficult for the other person to access money, who gambles, spends on drugs or otherwise throws away or unfairly spends family income or other behaviour that disadvantages their partner and children.
 

Specific Programs

Commonwealth Bank

Domestic & Family Violence Assistance Program

For eligible Commonwealth bank customers.
Includes:

  • free specialist counselling (not by bank staff)
  • Financial assistance team
  • Financial assistance for emergency costs and with debts
  • Your bank may have a program to assist as well.

    Please let us know if they do and we should let others know about it. 

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    Specific Interact Support Services

    Some services that Interact Support has available are Family Law Options Consultations and Family Dispute Resolution.

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    This post has information about how bank’s may be able to help if you are experiencing hardship or financial distress due to family violence or other life events.

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    Author: Joanne Law

    Joanne Law provides family dispute resolution and post separation coaching services for Interact Support.