Direct access to a debt advice service will further improve the support we provide to customers in financial difficulty.
Our Customer Connect program aims to help customers having difficulty making repayments on their mortgage, personal loan, credit card or small business loan by offering flexible repayment arrangements while the customer manages through a period of financial instability.
“Customer Connect has helped us to better understand at an earlier stage the nature of financial hardship facing our customers so we can do more to assist them,” says Customer Connect Head, Sue Jeffery.
“Following an expert review of the service we offer, we are now putting in place more measures to identify and help those customers who are really struggling to meet their repayments with us and other providers.”
A new debt advice service will be piloted in 2010 to offer customers in financial difficulty direct and timely access to independent financial counsellors. The service will help customers assess their overall financial situation, prioritise debts, arrange temporary repayment packages and plan the most appropriate course of action.
An early identification program will be trialed to spot customers who may be slipping into financial difficulty where, for example, short-term repayment arrangements may be offered at an earlier stage to help them avoid more serious financial problems down the track.
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