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As the COVID-19 Situation evolves, Homestar is here to help.
Coronavirus (COVID-19) Assistance
We have supported you through uncertain times like the bushfires and we are here to support you through COVID-19. We want to help you.
Should you be suffering hardship and struggling with your repayments due to loss of income, we can manage the cash flow strain together.
Below are some options to help you:
Adjusting your direct debits
If you have arranged to pay more than you need to pay into your loan by direct debit, you can contact us to reduce your repayments to the minimum amount required under your loan.
Interest only Repayments
If you are experiencing cashflow issues because of COVID-19 you may contact us and apply to pay interest only for 3 months. We may consider a further extension of 3 months on the interest only arrangement after the initial 3 months depending on your circumstances. During the time your loan is interest only, your loan balance will not change. However, your principal repayments will be applied through the remaining term of your loan and so your required repayment amount will slightly increase after the interest only period ends.
If you've have suffered a material loss of income as a result of COVID-19 you can apply for financial hardship.
If we have granted you assistance, we may consider an extension to this depending on your circumstances after the 3 months. For the 3 month deferral period no repayments are required. However, during this time, interest and fees will be added to the loan balance and your loan balance will progressively increase.
The repayment of the increased loan balance will be applied through the remaining term of your loan and so your required repayment amount will slightly increase after the 3 month period ends.
For further assistance please contact our Hardship team on 1300 099 382.
Government Information on COVID-19
The latest information on the governments financial help packages visit the Prime Minister’s updates at: https://www.pm.gov.au/media/supporting-australian-workers-and-business and also https://www.pm.gov.au/
You can also gain access to a new messaging service on WhatsApp by typing oz.gov.au/whatsapp.
For the latest health information visit the Department of Health website at https://www.health.gov.au/
For the latest health information visit the Australian Border Force at https://www.abf.gov.au/
Protect yourself against Scams
Be aware of scams involving coronavirus and visit the Government Stay Smart Online website https://www.staysmartonline.gov.au/ on how to stay safe. Scamwatch is keeping Australians informed via their website at https://scamwatch.gov.au
Here are some other ways you can protect yourself:
- Remember that we will never send you an email with links to sign in pages, or ask for your personal information, account details, PIN or passwords.
- Always ensure your computer and other mobile devices have up-to-date security software.
- Do not use public wifi to access your banking.
If you think that your login details or financial details may have been compromised contact us immediately on 1300 767 023 or email us firstname.lastname@example.org
We will regularly update this page so please keep visiting for current COVID-19 updates.