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NESTEGG
Published on: 23 Sep 2025
Recently updated: 24 Sep 2025

Arca’s CreditSmart initiative spotlights a persistent issue: consumers believe seeking help automatically damages their credit standing.

Under Australia’s credit reporting framework, financial hardship information (FHI) can be recorded when a borrower and lender agree to relief. Industry guidance indicates FHI is intended to contextualise repayment history during a support period rather than penalise credit scores. Yet the nuance is poorly understood, fuelling avoidable arrears and complaints.

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Digital Agency: SGY