If a client is in difficulty and is unable to meet their obligations, industry companies are calling on the creditor to seek a solution together. Industry companies invite clients in difficulty to act calmly and prudently:
- Under no circumstances should the client borrow from other creditors to repay an existing debt
- The client should contact their service provider to find the best solution to the problem
- The client should not delay the problem – the longer the client hesitates, the more difficult it will be to resolve the situation
- The client should revise their budget – there may be spending items that can be abandoned or substantially reduced
- If, however, the client does not see a way to deal with the situation, seek advice from the Alternative Financial Services Association.