Many people have complained about the management of their payment holidays.
Tag - debt repayment holiday
Most agreements to suspend debt repayments or monthly premiums have come to an end. Make sure you understand how this will affect your finances.
If you have taken a debt payment holiday, make sure you catch it up.
Payment holidays are a lot like real holidays – they end up costing more than you realise.
Bank customers will have a nasty surprise if they allow their debit orders to bounce.
If you do need to take a debt holiday, take a look at using a cashflow relief loan rather than a payment holiday as a way of ring-fencing that debt.
Credit life payouts and payment holidays are on the cards. But it will only be for those who are directly impacted by the lockdown, and will come with Ts and Cs.