There is a set timeframe to make a hardship application if you’ve already defaulted on your repayments.
You lose the chance to make a hardship application if:
you’ve been in default for two months or more, or
you’re in default and you’ve missed four or more payment due dates in a row.
If the lender has issued you a repossession warning notice or a Property Law Act notice and you remain in default, you lose the right to make a hardship application after two weeks.
If you are out of time to make a hardship application, you can still discuss your lending with your lender – they just no longer have a legal obligation to consider it. They might be able to offer you help such as temporary overdrafts, loans, or one-off payments.
For more information on making a hardship application see the Commerce Commission guidance (or, go to comcom.govt.nz and search “hardship application”).