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If you currently have a loan with us and have been affected financially by the COVID-19 pandemic, please click here for ways in which we may be able to work with you during these difficult times.

FAQ – COVID-19 (Coronavirus)

What is a payment deferral?

It is important for you to understand a payment deferral is not a payment holiday nor is it a contractual right.

Payment deferrals mean you can request to have your monthly payments deferred for a period of time without being considered as being in arrears, and are designed to help you when you are experiencing, or can reasonably expect to experience temporary payment difficulties. For example: in this case, because of the Coronavirus situation if you have been made redundant or have suffered a reduction in income,

If you contact us and explain that you are experiencing, or can reasonably expect to experience, payment difficulties due to Coronavirus then as long as:

  • Your account is up to date; or
  • Your account is in arrears as a direct result of the Coronavirus; or
  • Your account is currently in arrears but in an arrangement

We may ask you whether you would like to consider requesting a Payment Deferral as a solution to your financial difficulties.

Loans are subject to status and affordability. Consolidating debts may increase the term and the total amount payable.

Before entering into any credit agreement please make sure you can afford the monthly repayments, we recommend that you seek independent advice if you are unsure of any of the terms of our agreement. There may be other taxes or costs, not paid through us or charged by us, that you have to pay in connection with the agreement.

Late repayments can cause you serious money problems. For help go to www.moneyadviceservice.org.uk

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