Financial Hardship Assistance and Natural Disaster Assistance

We understand that life can take unexpected turns and that anyone can experience financial difficulty, due to unforeseen circumstances. Common events that may contribute to financial difficulty may include illness, change in income, relationship breakdown or emergency events like natural disasters and pandemics.

Our dedicated financial hardship team are committed to assisting you with finding a solution to help you get back on your feet.

Our team is here to support you through these times. We are here to help.

Financial Counselling

Financial counselling is a free service offered by community organisations, community legal centres and some government agencies. Financial counsellors can provide you more help if you need it.

The National Debt Helpline 1800 007 007 is open from 9:30am to 4.30pm, Monday to Friday. When you call this number you will be automatically transferred to the phone service in your state (opening hours can differ in different states). Calls from mobile phones may incur additional fees.

Frequently Asked Questions

How do I get in contact with ALPHERA Financial Services to discuss my current financial situation?

For general enquiries you can contact us on 133 269 or via email at info@bmwfinance.com.au.

For account information twenty four hours a day seven days a week, you can visit myalpheraaccount.com.au.

I am experiencing financial hardship. How can you help?

ALPHERA Financial Services has a dedicated Financial Hardship Team that can support you during difficult times. We may be able to assist you by offering:

an extension of loan terms
a temporary reduction to your current monthly instalments
a short term moratorium or deferral of instalments that you need to pay
a capitalisation of arrears

Will my instalments be debited from my bank account during this time?

Yes, all scheduled loan repayments will continue as usual. If you are experiencing financial difficulty and would like to alter these arrangements, please contact our Financial Hardship team on 1800 333 636 or by email to hardship@bmwfinance.com.au

How do I update my direct debit details?

You can update your direct debit details by visiting myalpheraaccount.com.au or via info@bmwfinance.com.au.

How do I payout my loan agreement with ALPHERA Financial Services?

You can obtain a payout quote twenty four hours a day, seven days a week through myalpheraaccount.com.au, or by calling 133 269 between 8.30am and 5.30pm (EST) Monday to Friday and following the prompts.

Payments can be made via BPAY and Bank Transfer to finalise your loan agreement. These payment details are available on your payout quote.

What happens to reporting of Repayment History Information (RHI) when you have a financial hardship arrangement?

Your credit report includes your RHI for accounts such as personal loans, personal credit card accounts and home loans. Whilst you are in a financial hardship arrangement, your RHI will confirm whether you met the requirement of that arrangement (instead of your normal payment obligation).

From 1 July 2022, when you enter into a financial hardship arrangement with us, it will be reported on your credit report, alongside your repayment history for that month. It will not show the reason you are in hardship or details of what the arrangement is. The repayment history information will be based on you being able to make repayments based on the terms of your financial hardship arrangement.

Your credit report will also show that those payment obligations have been impacted by a financial hardship arrangement. This will be shown by a letter code of 'A' or 'V' (depending on the type of hardship assistance) that will go next to your RHI and will remain on your credit report for 12 months.

Visit Credit Smart for more information on financial hardship arrangements.

Will interest continue to accrue while I am in hardship?

For consumer loan customers, the rate of interest charged to your account will not change if your instalments are deferred or reduced. The interest will continue to accrue and will be capitalised and added to the remaining balance to be paid over the remaining term of the loan.

For commercial loan customers, please contact us if you are having trouble meeting the obligations under your finance contract as there may be consequences from any default.

What happens if I can't afford my first monthly instalment after my hardship arrangement has completed?

Hardship measures are only short term solutions to assist with unexpected events and help you get back on track.

If your situation is prolonged, keeping your vehicle may not be the best financial option for you. As the vehicle depreciates in value, it may leave you with a large gap between the car value and what is owing on the loan.

If your hardship arrangement has completed and you are still unable to meet your obligation to ALPHERA Financial Services, please contact the Hardship Team on 1800 333 636 between 8.30am and 5.30pm (EST) Monday to Friday to discuss options available to you, such as selling or voluntarily surrendering your vehicle.

Will I fall in arrears if I cannot make instalments?

Failure to meet your instalments will put your loan agreement into arrears and may result in collections activity and a negative impact on your credit file.

If you find yourself in this position, please contact the Customer Support team on 133 BMW (133 269) between 8.30am and 5.30pm (EST) Monday to Friday to discuss options available to you.

Financial Hardship Assistance

Have your information ready

When contacting us, please have supporting information such as:

your income and employment status
what you own (house, household items, vehicles and shares)
what you owe (with us and with other lenders)
what has changed which has caused your difficulty
what changes you expect in the future

If you wish to seek assistance please complete your details here or contact our Hardship Assistance Team at:

ALPHERA Financial Services
1800 333 636
hardship@bmwfinance.com.au