Financial Hardship

Any Power Alliance Finance customer that is experiencing financial difficulty, we’re committed to being here for you.

Support for Customers


Sometimes unforeseen circumstances can affect your financial situation. If you have or think you may miss a Power Alliance Finance loan payment in the future, we’re committed to assisting our customers. Our dedicated team will take the time to understand your individual situation and provide you with the most supportive options to get you back on track.

Life Events

Life Events

Sometimes unforeseen factors including loss of employment, family breakdown, illness, injury or even the death of a family member may affect your financial position. This can be hard to deal with, but it’s important to understand that Power Alliance Finance is here to help. If something has happened to you and you’re finding it hard to make your repayments, there are a number of ways Power Alliance Finance can assist with your circumstance.

COVID-19

COVID-19

If you are a Power Alliance Finance customer and have been personally impacted by COVID-19, we’re here to provide additional financial support. We’ve developed the guidelines below to simplify the process and help you get the support you need.

Natural Disaster

Natural Disaster

If you’ve recently been affected by a natural disaster, please get in touch. Flooding, bushfires, and drought can heavily impact your financial situation. Our specialists can take you through a range of options to ease the pressure based on your individual circumstances.

Support Guidelines

HOW DO I APPLY?

To make this process as quick and easy as possible, Apply online to start the process.

WHO IS ELIGIBLE FOR ASSISTANCE?

Customers who are experiencing financial difficultly as a result of COVID-19 may be eligible for hardship support.

I HAVE BEEN IMPACTED BY COVID-19. WHAT DO I NEED TO DO?

For consumer loans, provide evidence of loss of employment or reduction of income. Acceptable options include:

  1. a) Separation certificate (termination of employment)
    b) Evidence of employment contract not being renewed
    c) Jobseeker Payment / Newstart application or evidence of payments
    d) A recent payslip dated within the last three months
    e) 2 consecutive months of bank statements
  2. f) Any relevant medical certificates

For commercial loans, provide evidence of direct or indirect impacts to business.

Apply online to start the process.

IF YOU REQUIRE HARDSHIP ASSISTANCE THAT IS NOT RELATED TO COVID-19

Provide all documentary evidence, e.g. a current Statement of Cash Flows, Profit & Loss Statement, Balance Sheet

Apply Online to start the process.

WHAT HAPPENS TO MY CAR LOAN IF I LOSE MY JOB OR I THINK I MAY LOSE MY JOB?

Power Alliance Finance is committed to assisting customers, especially during this challenging time. We understand the evolving COVID-19 situation is affecting our customers and we are here to help.

Should you lose your employment because of COVID-19, you may be eligible for financial support.

Apply online to start the process.

WHAT HAPPENS TO MY CAR LOAN IF MY BUSINESS IS FORCED TO CLOSE?

If your business has been forced to close due to COVID 19, you may be eligible for financial support.

Apply online to start the process.

OTHER BANKS ARE OFFERING TO DEFER PAYMENTS. I WOULD LIKE TO DEFER MINE. WHAT CAN I DO?

We review and assess each customer’s needs on a case-by-case basis and our goal is to provide responsible and sustainable solutions that meet an individual’s needs.

If you have been affected by COVID-19, you may be eligible for financial support.

There are some general guidelines that will apply if you defer your payments:

  • The specifics of your loan will change i.e. the term and/or payment amount, and this will be communicated to you in writing
  • Interest will continue to be charged on the loan during the deferred period

Apply online to start the process.

I WOULD LIKE TO CONTINUE TO PAY MY LOAN HOWEVER; I WOULD LIKE TO REDUCE THE PAYMENT AMOUNT. IS THIS POSSIBLE?

If you are currently paying above your repayment amount, you can simply stop paying the additional amount and revert to your advised payment amount. You do not need to call or email us as long as you are maintaining your payments.

If you are not paying above your repayment amount, you will need to apply for hardship.  We review and assess each customer’s needs on a case-by-case basis however if you change your payment amount the following general guidelines will apply:

  • The specifics of your loan will change i.e. the term and/or payment amount, and this will be communicated to you in writing
  • Interest will continue to be charged on amended or deferred loans

Apply online to start the process.

IF I APPLY FOR HARDSHIP ASSISTANCE, WILL MY CREDIT FILE BE NEGATIVELY IMPACTED?

In terms of your repayment history, if you maintain your payments under the hardship arrangement then this will not affect your credit file.

I'm finding loans for Myself My business

Disclaimer

This information provided by Power Alliance Finance, a division of Australian Alliance Automotive Finance Pty Limited ABN 63 002 407 703, Australian Credit Licence 513747 is of a general nature and for information only. Nothing on this website constitutes or should be considered to constitute legal, taxation or financial advice. Before making a decision about any of the products and services featured on this website, you should consult with your own independent legal, taxation and financial advisors, who can advise you about your personal circumstances.