Financial Difficulty

Financial Hardship

At HSBC, we're committed to helping customers to overcome any financial difficulties they may be experiencing. If you're having trouble making your repayments, we could for example, work with you to develop a repayment plan or provide you with a short or long term break from your repayments.

HSBC understands customers may go through difficult times, and that's when you need someone on your side the most. Whether you have questions about your mortgage, home equity, or your unsecured debts, our team of trained, dedicated Financial Hardship officers have solutions that may be right for you.

Supporting you through the tough times

We may be able to alter your current repayments based on what you can afford to pay at the time, for example reduced repayments, interest adjustments and repayment extension periods.

The type of assistance we may be able to provide will vary depending on your individual circumstances and HSBC dedicated Financial Hardship team will aim to provide you with temporary relief from your repayments.

Applying for Financial hardship assistance

HSBC has a number of ways you can discuss and apply for Financial Hardship assistance:

  • Over the phone by calling the Hardship department: 1300 555 988 between 8:00 a.m. to 5:00 p.m. Monday to Friday (AEST).
  • In person by visiting any HSBC branch and speak to any of our staff, who will help you get you in touch with our dedicated Financial Hardship team.
  • Online by submitting a Hardship application and Statement of Financial Position. (PDF, 107KB)
  • In writing or email our dedicated Financial Hardship team contact you shortly after receiving your letter to discuss the matter with you further.

You should complete and return a Statement of Financial Position (PDF, 107KB) form to help us better understand your financial position.

Customer Assist
GPO Box 5302
Sydney NSW 2001


02 9762 9689

* If you are a Small Business Customer, you should call the Contact Centre on 1300 308 008 in the first instance. If you are a Commercial Banking or Business Banking customer and may be experiencing financial difficulty, please contact your Relationship Manager in the first instance to discuss your situation. Financial Hardship assistance may be available in certain circumstances. Alternate application processes and documentation apply.

What happens next

HSBC will respond promptly to requests, in writing, confirming the main details of any arrangement made. We aim to provide you with an outcome for your application within 21 days of your request. At this time we will advise you of our decision in writing or we will write to you and ask you for further information to help us come to a decision.

In the event HSBC is unable to approve your hardship request we will provide you with information about your right to refer your request to an External Dispute Resolution service.

HSBC will give genuine consideration of any request, irrespective of your loan value, reason for financial difficulty or your repayment history and collections activity will be put on hold during our assessment process.

Dealing with a third party

We understand that at times you may like to have a third party representative deal with HSBC on your behalf. Should this be the case, we require written authority to discuss your personal and account information with the third party.

If you would like us to deal with a third party, you should contact us and discuss the process with your relevant Customer Service team.

Further Information and Support

There is also some useful information about financial hardship and money management, including links to the ABA's website, the Financial Counselling Australia (FCA) website and the Australian Securities and Investments Commission (ASIC) MoneySmart website.

Customers with a mortgaged property may also be eligible to apply for additional short term assistance under the government mortgage assistance scheme.

Should you require further information regarding the mortgage assistance scheme you can visit or visit HSBC's Frequently Asked Questions page.

Finally, you may wish to speak with an accredited financial counselor. In Australia, there are many free financial counselling services and you can find out more about these by calling 1800 007 007.