Many people assume support is only available after they've fallen behind on repayments. Others aren't sure whether what they're experiencing is serious enough to act on. And some don't know what options are available.
That's why we've expanded the resources available to you, including practical tools, educational videos and guidance to help you understand your situation earlier and explore the support available.
Recognising the signs
Financial difficulty often develops gradually rather than all at once.
You might notice you're relying more heavily on credit, putting off bills until the next pay cycle, or feeling increasingly concerned about upcoming repayments. These early signs can be easy to dismiss, but understanding them can help you take action sooner.
The earlier you understand what's changing, the more time you may have to review your options and decide what's right for your circumstances.
New resources to help you take the next step
The enhanced financial hardship resources bring together practical information and support in one place.
You'll find:
- Guidance to help identify the early signs of financial stress
- Practical financial wellbeing tools and resources
- Information about the support options that may be available
- Educational videos that answer common questions
- Guidance on what happens when you ask for assistance
- Access to hardship support information and application pathways when needed.
The resources are designed to help members understand their situation, learn more about their options, and feel confident about the next step.
Answering common questions
The new video series explores some of the questions people often have when they're dealing with financial pressure.
Questions such as:
- How do I know if I'm at risk of financial difficulty?
- Is it too early to talk to BankVic?
- What happens when I ask for assistance?
- Will asking for help affect my ability to borrow in the future?
- What information should I have ready before I reach out?
By providing clear, practical answers, the resources aim to remove uncertainty and help members make informed decisions.
You don't need to have everything worked out
Another common misconception is that you need to know exactly what solution you need before seeking support.
In reality, understanding what's changed and how it's affecting your finances is often the best place to start. The new resources are designed to help you do exactly that.
Whether you're looking for budgeting tools, reviewing your repayment commitments, or exploring hardship assistance, understanding your options early can help you make decisions with greater confidence.
Explore the new resources
Explore the new resources to better understand your options, take action early, and access support when you need it.
