Some lenders allow you to miss repayments, but only if that is a feature of the loan product that you signed up for, and only if you advise them in advance. Most lenders do not allow their customers to miss a minimum payment, and impose heavy fees on customers that do.

The only exception is those people who register for hardship. Contact your lender to discuss a possible hardship repayment schedule. These may be available to people who have recently lost their jobs or have another reason for an interruption to regular income.

The ultimate resource is an Aussie Broker

Talk to us today