If you are worried about future financial difficulties, or want to understand how we are supporting our customers through the coronavirus crisis, please read our Frequently Asked Questions below.
If you have been directly affected by coronavirus due to reduced hours, pay or a loss of job and you’re worried about what this might mean for your agreement with us, we’re here to help. You can contact us by calling 0800 197 9090 or by emailing us at this address.
My income has significantly reduced and I may not be able to make my next payment, what can I do?
Our customers are our priority and we will do everything we can to assist customers who find themselves struggling financially. We have a range of forbearance solutions for any customer who has been impacted by the coronavirus crisis. We will review all cases individually and find the most appropriate solution for you.
Will I need to provide any information when requesting assistance due to my income being reduced as a result of coronavirus?
We may ask you to complete a questionnaire and provide documentation to us to assist us in reviewing your financial situation. This is to allow us to ensure we are able to understand your circumstances in full and agree the best way forward for you.
Will I be charged interest on my loan agreement whilst I don’t make repayments on my account?
Yes, we’ll continue charging interest on your loan agreement. You will not however, have to make any payments during the period agreed.
How will this affect my payments at the end of period of non-payment?
We’ll be in touch with you when the period of non-payment ends to tell you what your new monthly amount will be and the date when payments will begin again. This might be higher than your original payment. If the new repayment amount is too high, you may have the option of spreading the extra repayment amounts over a period of time. Our customer support team will be able to talk you through your options should this be the case.
How could this affect my loan agreement?
We’ll continue to charge interest as normal during the deferral period and this interest will be added to the amount you owe. All payments will be deferred by the agreed period meaning you will have an agreed period of months over which to make your payments.
When the period of non-payment ends, we’ll increase your monthly payment amount. This means you can make up the payments you did not make over the rest of your loan term. It also means you’ll pay interest on the deferred payments over the remainder of the loan term. If you cannot afford the new repayment amount, our customer support team will discuss your options with you to ensure payments are affordable for you.
Here’s an example of how the period of non-payment could affect repayments when the period ends.