What is financial difficulty?

Financial difficulty has many different meanings for different people. Other common terms, such as financial hardship, financial trouble, money problems and cashflow shortfalls, can all mean you maybe unable to meet your contractual obligations in the short to medium term.

This can be a result of:

  • Unemployment;
  • Unexpected illness that prevents you from bringing in an income;
  • Being in arrears of your loan repayments;
  • Other events which mean you will not be able to meet your future repayments or other loan obligations.