Today the Australian Banking Association has told Queenslanders impacted by major flooding as a result of cyclone Jasper that banks have teams on standby to help those in need.
"The ABA urges anyone in need of financial assistance to reach out to their bank, and to do so as early as possible. Dedicated hardship teams are on standby and ready to help," ABA CEO Anna Bligh said.
Ms Bligh said hardship teams are highly experienced at working closely with people who have been impacted by crisis including floods and other disasters.
"Banks have a range of very practical tools in their tool kits to support people through tough times," Ms Bligh said.
Depending on individual circumstances, banks can assist by:
- deferring upcoming credit card payments
- providing emergency credit limit increases
- restructuring existing loans
- offering additional finance to help cover cash flow shortages
- deferring scheduled loan repayments
/Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).View in full here.
