Suncorp boosts hardship support with new Way Forward partnership
Suncorp has partnered with not-for-profit debt solutions provider, Way Forward, to further support customers experiencing financial difficulty with independent help to overcome their debts.
Accessible for free to Bank customers who have been identified as requiring support to navigate back to financial stability, Way Forward helps people to pay off debt across multiple creditors.
Suncorp EGM Home Lending Bruce Rush said Suncorp is pleased to partner with not-for-profit debt solutions provider, Way Forward to provide customers in need with additional independent financial advice.
Bruce Rush, Suncorp EGM Home Lending
Each year we help a number of customers through times of financial hardship however we understand that in some circumstances, customers need greater and more holistic support to regain control of their finances.
“Way Forward will help to provide customers with support across multiple creditors and provide an achievable pathway back to financial stability.”
Way Forward was established in 2018 to support Australians to find a sustainable way forward from debt and avoid unaffordable payment arrangements.
Way Forward CEO David Berry said with Suncorp now joining as a member of Way Forward, its customers with debts across multiple lenders who are struggling to make ends meet can access Way Forward’s service.
“We will advocate on behalf of customers who need support in paying off their debts,” Mr. Berry said.
David Berry, Way Forward CEO
The strength of our partnership with our members benefits bank customers, by better supporting them to get out of debt faster.
In 2020, Suncorp Bank supported more than 25,000 customers with hardship relief including providing access to temporary loan deferrals.
The partnership with Way Forward will support customers in need and builds on Suncorp’s Financial Inclusion Action Plan (FIAP) which is aiming to build the financial resilience and wellbeing of Suncorp’s customers and broader community.
It follows the extension of our partnership with community service organisation Uniting and the expansion of its CareRing referral service.