Loan COVID-19 payment breaks

Things you might find helpful to know if you’ve had a payment break:

Why am I unable to apply for a payment break or a payment break extension?

Unfortunately COVID-19 payment breaks and payment break extensions are no longer available.

But there are other ways we can offer you support with your loan payments today. Please go to our financial difficulty page to find out more.

    Did my payment break affect my credit file?

    COVID-19 payment breaks weren’t reported as missed payments to the credit reference agencies. But bear in mind, lenders may look at other information – such as bank statements – when assessing credit applications.

      What happened to any payments made during my payment break?

      If you’ve been able to make payments towards your loan during your payment break they will help you pay your loan off quicker.

      Here’s how you can continue to make additional loan payments if you want to.

        Have I been charged additional interest?

        We didn't charge any additional interest because you'd paused your loan payments.

        We'll continue to collect your usual monthly Direct Debit payment until your paused payments are repaid. Here's some more info about how and when these payments will be taken.

          What happens now my payment break has ended?

          You’ll still need to make your delayed payments, either by paying them off within your original term, or alternatively we’ll extend your loan term automatically to cover the delayed payment.

          If you need additional support please visit our financial difficulty page for more information.

            When and how do I make up my delayed payments?

            You can choose how to make up your delayed payments, either:

            • Pay the sum of your delayed payments by making additional payments during your original loan term - here are your ways to pay.
            • If you don’t make up your delayed payments within your original loan term we'll automatically extend your loan term by the number of months needed to cover your delayed payments.

              This means it could take up to an additional 6 months to pay back your loan depending on the length of your payment break/extension.

              Why am I continuing to receive letters about arrears?

              If the only payments you've missed were during your payment break

              During your payment break, you may have received letters from us notifying you of missed payments. For legal reasons we were unable to stop these, but if you’re keeping to the terms of your repayment plan or agreed payment break, you don’t need to do anything.

              You may continue to receive these letters until your loan term ends. We understand this may be confusing, but there are certain letters we’re legally required to send about missed payments.

              If you've missed other payments

              If you’ve missed any payments on your loan account outside the time of your payment break, it’s important you follow the instructions given in these letters. If in doubt, please get in touch with us on 0345 300 4547.

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