What is financial hardship?

If you want to pay your bills but don’t have the money to do so, you may be in financial hardship.

Common events contributing to financial difficulty may include:

  • injury or illness
  • unemployment
  • relationship separation
  • domestic violence/financial abuse
  • natural disaster
  • reduction of income
  • gambling.

Financial hardship is more common than you might think. If you're finding things tough, please reach out to us.

How can we help?

We have a Customer Care team, who specialise in working with you if you’re finding things tough financially. We’ll talk you through your circumstances to understand what options are available to help improve your situation.

Our priority is to help you get up to date with your payments and back on track. The sooner you talk to us, the better. Call Customer Care on 1300 023 419.

If your query relates to gambling, our team can talk you through options available, including NAB’s gambling restriction option on personal NAB Visa Credit and Debit Cards.

What you need before you start

We’ll need details about:

  • your account information
  • your situation

To make sure your application is processed quickly, complete the form as accurately as you can.

How to apply

There are several ways to get financial hardship assistance:

Customer Care

GPO BOX 4963, Melbourne, Vic 3001

Hardship for small business

Financial hardship in business is more common than you might think. It’s caused by anything from staffing challenges and cash flow issues to personal injury or illness. If you're finding things tough and are struggling to see how you can make repayments, the sooner you talk to us the better.

If you think you might miss a payment and would like to talk to someone about your options, please call NAB Assist on 1300 023 419.

How to apply for financial hardship assistance

There are several ways to apply:

Customer Care

GPO BOX 4963, Melbourne, Vic 3001

Where else you can get help

  • Cash flow improvement tool - uncover opportunities to help improve the running of your business.
  • Financial Healthcheck tool - answer 10 short questions to discover any potential issues and what you can do to fix them.
  • Australian Taxation Office's Small Business Support Program - the ATO provides free seminars and workshops for small business, including tax basics and record keeping.
  • Business.gov.au - this Australian Government website connects you to information, grants, registrations and support to help your business succeed in Australia.
  • Customer Care kit - organisations who can help you get back on your feet in difficult times.

What happens next?

Most of the time, we can process your application over the phone. Occasionally we’ll need you to provide supporting documentation. If this is the case, please allow up to 21 days for us to process your request.

Understanding your hardship agreement

We’ll work out a payment arrangement that is individual to you. While you’re on a payment plan, interest and fees (excluding late payment fees) continue to apply.

The amount you normally pay, may be adjusted temporarily to a lower amount. We’ll explain this to you when we’re discussing your situation.

It’s important to remember that reducing the amount you currently pay will require you to make up the difference in the future. We’ll work with you to catch up these payments over time. If you can’t make a payment that we’ve agreed to, or you need to change your arrangement, it’s important that you call us on 1800 701 599 (or 1300 961 577 for small business) and let us know.

Your rights

If you’re not satisfied with the financial difficulty assistance we’ve provided, you can contact our NAB Resolve team. They’re here to listen to your feedback and help you work through difficult issues.

National Australia Bank

General Manager, NAB Resolve

Reply Paid 2870, Melbourne, Vic 8060

If your concerns haven't been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA).

AFCA is an external dispute resolution (EDR) scheme to deal with complaints from consumers in the financial system. AFCA provides fair and independent financial services complaint resolution that's free to consumers.

You can contact AFCA:

  • Website: afca.org.au
  • Email: info@afca.org.au
  • Telephone: 1800 931 678 (free call)
  • In writing to:

Australian Financial Complaints Authority
GPO Box 3, Melbourne, VIC 3001

It's important that you have spoken to NAB Resolve first as AFCA will encourage you to work with us before they look at your case.

Other support you might find useful

Customer Care

Assistance is out there. See here for organisations who can help you get back on your feet in difficult times.

Customer Care Kit

If you're experiencing a change in your circumstances, require financial hardship assistance, or think you might need help in the future, please call NAB: 1300 023 419

We're ready to help you

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