How Revolut can help during financial hardship
Financial hardship occurs when you're unable to meet your repayment obligations, like for credit cards or loans. This can happen due to illness, natural disasters, unemployment, excessive credit commitments, or other personal reasons.
If you're dealing with financial hardship and are unable to make your loan payments with Revolut, it's important that you take action as soon as possible. You can apply for financial hardship via the Revolut app.
We can discuss your situation and payment options, which may include entering you into a financial hardship arrangement (holding or reducing your repayments for a period of time). We may request some documentation, depending on your case.
How to apply for financial hardship
- Go to 'Home' on the bottom menu
- Below your balance, tap 'More'
- Select 'Get help'
- Tap 'I'm experiencing financial difficulties'
- Follow the steps to apply for hardship assistance
You'll need to complete the questionnaire and supply any information requested to help us assess your application. If you need further help, you can contact our support team in-app or email us at finassist-au@revolut.com.
Will entering a hardship arrangement impact my credit score?
A financial hardship arrangement doesn't affect your credit score. Your credit facility repayment history will show that you have an arrangement in place during this time, and this will remain on your report for 12 months — it does not provide any details about the arrangement.
However, if you don't enter an arrangement and fail to make your repayments, it may negatively impact your credit score.