Definition of Financial Hardship
Redfox defines financial hardship as:
A situation where a customer is unable, reasonably, because of illness, unemployment or other reasonable cause, to discharge their financial obligations under their contract with the supplier and the customer reasonably expects to be able to discharge those obligations if payment and/or service arrangements were changed. Financial hardship can be of limited or long term duration.
Redfox Credit Team
In times of genuine hardship, we understand that customers require (and deserve) easy access to empathetic and skilled staff. Redfox will endeavour to provide this service by training all relevant staff to correctly identify customers who are dealing with financial hardship.
At Redfox, we expect our team to act with compassion and sympathy, whilst still managing to meet business requirements. The team is also required to accept reasonable payment arrangements, taking into account each customer’s individual circumstances.
Identification of a Customer Experiencing Financial Hardship
Redfox considers financial hardship a state that involves a customer’s inability to pay bills, rather than an unwillingness to do so. Financial hardship can arise from a variety of situations and can be of either limited duration or long term.
Common causes of financial hardship include, but are not limited to:
- Loss of employment by the customer or family member;
- Family breakdown;
- Illness including physical incapacity, hospitalisation, or mental illness of the customer or family member;
- A death in the family;
- Abuse of the service by a third party leaving the customer unable to pay the account; and
- Natural Disaster.
Reaching a Financial Arrangement
The agreed financial solution should meet the following criteria:
The repayment should be sufficient to cover expected future use of the service (as adjusted to ensure the customer’s financial position does not worsen over a reasonable period of time).
The arrangement should provide a continued reduction of debt at a reasonable rate (i.e. the customer should not be increasing existing debt levels under the arrangement).
Upon request or suggestion, we will restrict your services. This includes but is not limited to:
- Reducing your plan to a lower data limit (and lower cost) one;
- Reducing spend allowance on mobile data plans to stop you exceeding your monthly quota by an undesired amount;
- Removing access to apply for new products and services; and
- Suspending use of some or all services.
Financial Counselling Services
In times of need there are many fantastic organisations that can offer assistance. The following organisations are in no way affiliated with Redfox but might provide the help you need:
Financial Counsellors Association of Queensland: 07 3321 3192
(referral to a financial counsellor)
Financial First Aid: 1300 370 255
Telephone financial counselling service
How to find out more
For more information on Redfox’s Financial Hardship Policy, please email firstname.lastname@example.org, or call us on 07 4951 7777 between 8:30 AM and 5:00 PM, Monday to Friday.
How long will the assessment take?
Your assessment will be reviewed by our empathetic and skilled credit team within 7 business days.
Your privacy is our priority
If you are facing financial difficulties you may be required to provide some sensitive information, this may include:
- Employment information;
- Income details (including any government assistance); and
- Debt statements (Bills)
Our staff is experienced in treating matters of financial hardship with understanding and sensitivity, and your privacy will remain our utmost concern. All information will be kept confidential and in accordance with the privacy provisions of the Privacy Act 1988.