Financial difficulty

Individuals and small businesses can ask their financial services provider for assistance where, for a short period of time, they are unable to meet their repayments under a credit facility (such as a credit card, personal loan, home loan or business facility). This might include a request to change the repayments under the credit contract for a period of time.

If a financial services provider will not agree to a reasonable request for assistance then the Ombudsman has power to review that decision. In some cases we can require a financial services provider to change the terms of a credit contract.

» The FOS Approach to financial difficulty

» Information for consumers in financial difficulty

» Information for consumer representatives and financial services providers about resolving financial difficulty disputes

You may also like to read the following articles for further information:

» Debt collection and social security recipients

» Secured debts and shortfall issues

» Customers in financial difficulty and lenders mortgage insurers

» Natural disasters: Are you experiencing financial difficulty?  

» When FSPs must stop enforcement action

Small business

If you are a small business or deal with small businesses, you may find the following article useful:

» Dealing with customers in financial difficulty: small business

The Financial Ombudsman Service offers telephone conciliation conferences to help resolve disputes.

» Guide to conciliation conferences  

Statement of income and liabilities to support a dispute lodged with us by a consumer in financial difficulty:

» Statement of financial position