UNFORESEEN HARDSHIP. 11.1 If the Member is unable to reasonably keep up with the payments or other obligations because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, the Member can apply to the Credit Union for a hardship variation.
11.2 To apply for a hardship variation, the Member must send to the Credit Union a written request which explains the Member’s reasons for the application.
11.3 The Member should make this application as soon as the Member becomes aware of any unforeseen hardship.
11.4 The Credit Union will acknowledge receipt of hardship applications within 5 working days and make a decision on the hardship application within 20 working days.
UNFORESEEN HARDSHIP. If a cardmember/account holder is unable reasonably to keep up their payments or other obligations because of change in their personal circumstances, they must let the Bank know immediately. The statutory hardship regime under the Credit Contracts and Consumer Finance Act 2003 provides you with a statutory right to apply to the Bank for certain variations to be made to your credit contract if you meet certain criteria, namely: ⮚ you have suffered hardship that you could not reasonably have seen coming, such as illness or injury, loss of employment, the end of a relationship, or death of a de facto partner, civil union partner or spouse. ‘End of relationship’ includes spouses or civil union partners living apart or separating, a marriage or civil union being dissolved, de facto partners no longer being in a de facto relationship, one spouse or partner endangering the relationship property or seriously diminishing its value, or a spouse or partner being an undischarged bankrupt; ⮚ as a result of that hardship, you cannot reasonably meet your payment obligations under the credit contract; and ⮚ you believe that you would be able to meet your repayment obligations if the contract was changed. You cannot make an application in circumstances where you are in default of your obligations to make payment under the contract, and in relation to that default: ⮚ have been for two or more weeks after receiving a repossession warning notice or notice under section 119 of the Property Law Act 2007; ⮚ have failed to make four or more consecutive periodic payments by the due dates; or ⮚ have been in default for two or more months. (However, any application can be made once you have remedied the relevant default). A hardship application also cannot be made: ⮚ within four months of a previous application, unless ICBC NZ agrees to consider the application in a shorter timeframe, or the grounds for seeking a change to the credit contract are materially different from the grounds given in the previous application; or ⮚ where the inability to meet repayment obligations was reasonably foreseeable to you at the time of making the contract. Please refer to our website (xxx.xxxxxx.xxx) for more details on how to make a Hardship Application and what information you will need to provide in support of your application.
UNFORESEEN HARDSHIP. 11.1 If the Member is unable reasonably to meet the conditions of this Agreement or other obligations because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, the Member can apply to the Credit Union for an unforeseen hardship variation
11.2 To apply for an unforeseen hardship variation, the Member must send to the Credit Union a written request which explains the Member’s reasons for the application.
11.3 The Member should make this application as soon as the Member becomes aware of any unforeseen hardship.
UNFORESEEN HARDSHIP. 27.1. Volgren is committed to the wellbeing of all employees, and providing support for those employees that are experiencing personal and family hardship, affected by circumstances beyond their control.
27.2. Volgren will continue to provide employees with external assistance through the Employee Assistance Scheme, and the immediate approval of paid and unpaid leave at management discretion, to allow sufficient time for the employee to recover. Depending on the circumstances other actions may be taken to support the employee, that are beyond this Agreement or the Award. Such actions will be taken at Management discretion and will not provide or set a precedent for changes to this Agreement or any other future agreements.
UNFORESEEN HARDSHIP. If your SBS Unwind Loan Agreement is a consumer credit contract and you are unable to meet your obligations under your Loan because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, and you reasonably expect that you could meet those obligations if your Loan were changed in the ways prescribed by the Act, you will need to: • make your application in writing; • explain your reason(s) for the application; • request a postponement of the date(s) on which any payment is due under your Loan; and • give the application to us. You should do this as soon as possible. If you leave it for too long, we may not have to consider your application by law (but may choose to do so, at our discretion). If you are unable to pay any fees, charges or other outgoings in relation to your Loan or the Mortgaged Property, including where your Credit Limit is insufficient to capitalise (add) these expenses to your Loan, please contact us to discuss as soon as possible. We may, in our discretion, agree to adjust your Credit Limit to allow for payment of these expenses. If you require assistance with the payment of additional expenses which arise as a result of a Repayment Event such as legal expenses and funeral costs (where you are unable to fund these expenses under your Loan), we may (in our discretion) agree to pay these expenses on your behalf and deduct the total sum from any Protected Equity Amount.
UNFORESEEN HARDSHIP. Section 55 of the Credit Contracts and Consumer Finance Act grants you certain rights in the event of unforeseen hardship.
UNFORESEEN HARDSHIP i. It is recognised by the parties to this Agreement that the agreed salary increases place a significant and long term, financial commitment on the employer. It is further recognised that there may be unforeseen events or circumstances beyond the control of the employer which may, at some stage during the life of this Agreement, seriously impact on the employer's ability to pass on the salary increases outlined in this Agreement.
ii. It is agreed by the parties that should the employer become aware of events or circumstances which seriously impact on their ability to pay a salary increase or increases they shall immediately contact The Independent Education Union of Australia, to arrange urgent discussions on the matter. In such circumstances the union is entitled to a full and xxxxx assessment of the situation from the employer, including:
a) Events or circumstances threatening the salary increase or increases.
b) Full details of any relevant financial data, including any information relevant to the employer's capacity to pay.
c) Details of the proposed actions of the employer to address the situation.
iii. The parties are obliged to attempt to resolve the matter in good conscience, and to seek an outcome which is both timely and does not place an excessive burden on either the employees or the employer (including minimising the impact on the operational needs of the school and students).
iv. Where agreement can be reached the outcome is binding on both parties, and shall not constitute a breach of the Agreement.
v. Where the matter cannot be resolved within a period of two weeks or such other period as agreed, the parties are to seek the assistance of Fair Work Commission.
UNFORESEEN HARDSHIP i. It is recognised by the parties to this agreement that the agreed salary increases place a significant and long term, financial commitment on the employer. It is further recognised that there may be unforeseen events or circumstances beyond the control of the employer (e.g. a decline in enrolments of 10% per year or 20% over 3 years, significant change in funding, severe local economic or climatic conditions etc.) which may, at some stage during the life of this Agreement, seriously impact on the employer's ability to pass on the salary increases outlined in this agreement.
ii. It is agreed by the parties that should the employer become aware of events or circumstances which seriously impact on their ability to pay a salary increase or increases they shall immediately contact the union to arrange urgent discussions on the matter. In such circumstances the union is entitled to a full and xxxxx assessment of the situation from the employer, including:
a) Events or circumstances threatening the salary increase or increases.
b) Full details of any relevant financial data, including any information relevant to the employer's capacity to pay.
c) Details of the proposed actions of the employer to address the situation.
iii. The parties are obliged to attempt to resolve the matter in good conscience, and to seek an outcome which is both timely and does not place an excessive burden on either the employees or the employer (including minimising the impact on the operational needs of the school and students).
iv. Where agreement can be reached the outcome is binding on both parties, and shall not constitute a breach of the agreement.
v. Where the matter cannot be resolved within a period of two weeks or such other period as agreed, the parties are to seek the assistance of Fair Work Commission.
UNFORESEEN HARDSHIP. The Credit Contracts and Consumer Finance Act 2003 gives Borrowers under a consumer credit contract the right to apply for changes to be made to their contract where they have suffered an “unforeseen hardship”. Where the Borrower, in terms of the Credit Contracts and Consumer Finance Act 2003, is unable reasonably, because of illness, injury, loss of employment, the end of a relationship or other reasonable cause, to meet their obligations under this Agreement then the Borrower may apply to the Lender to change this Agreement in one of the manners set out in Section 56 of the Credit Contracts and Consumer Finance Act 2003. The Borrower must reasonably expect to be able to discharge his or her obligations if the terms of this Agreement were changed in that manner. The Borrower may not make such an application if:
(a) the Borrower has made a default in payment that has not been remedied (to the extent that it can be remedied);
(b) the Borrower has caused a credit limit to be exceeded; or
(c) it was reasonably foreseeable to the Borrower at the time this Agreement was made that the Borrower would be unlikely to be able to meet his or her obligations under this Agreement because of the illness, the injury, the loss of employment, the end of the relationship, or the other reasonable cause.
