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28884posts

COVID-19 (coronavirus) information

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Little helper

Re: COVID-19 (coronavirus) information

Will there be a reduction in interest now that the Bank of England have reduced the base rate? I have a Personal loan with you. 

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Little helper

Re: COVID-19 (coronavirus) information

Current situation is awful and it affects absolutely everyone in one way or another, hopefully things will improve soon. In the meantime we try to deal with a lot of things over the phone, which often requires being on hold for longer than usual, I just hope everyone has enough patients and understanding, my advice is, make yourself a cup of tea while you are wanting and let's all be kind to each other trough this difficult time.
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Just looking

Re: COVID-19 (coronavirus) information

Hello, 

What's the current lead time in terms of loan holiday replies to do with COVID-19. I sent my application off 2 weeks ago (4th April) and have yet to hear back.

 

Many thanks

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Your Community Expert

Re: COVID-19 (coronavirus) information

Hi @timypeg, we don't have a specific timescale on this. However, If you have received an automatic reply to your payment delay request, there is no need to contact us. Please follow the steps within the email asking to delete your direct debit, and ignore any correspondence regarding missed payments. We will be back in touch when your payment break has been applied and this will be backdated to the date we received your email. Any late payment fees will be refunded and it will have no effect on your credit file. We thank you for your patience during this time - Keigan

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Little helper

Re: COVID-19 (coronavirus) information

Hi my name is Neil, and I've applied for the 3 months payment break on my loan. 

 

I've had an email acknowledgement that its been received, but I keep getting emails and texts asking for payment. 

 

I'm self employed and have no money coming in, so I need the payment break. My payments have been on time previously and I will insure they are following the payment break. 

 

I am concerned that it will affect my credit rating due to the delay in having confirmation. 

 

Thanks in advance. 

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Your Community Expert

Re: COVID-19 (coronavirus) information

@Polaristutor, please disregard any correspondence you've received from us. As long as you've sent us the form and received the automatic reply, there is nothing more you need to do - Keigan

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Little helper

Re: COVID-19 (coronavirus) information

Hello,

 

I requested a 3 month payment holiday on 7th April and only just received an email last Friday 17th to say "Sorry - things are taking a bit longer than usual right now". I understand you are very busy and working throught all the requests. My next loan payment is due soon on 25th April and im worried if it will still be taken, despite me sending the form a while ago? Can I get an update please on how much longer the payment freeze will take?

 

Thank you

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Your Community Expert

Re: COVID-19 (coronavirus) information

Hi @KTroopA, please follow the steps within the email asking to delete your direct debit, and ignore any correspondence regarding missed payments. We will be back in touch when your payment break has been applied and this will be backdated to the date we received your email. We are working through all received requests at the moment. 

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Little helper

Re: COVID-19 (coronavirus) information

@RossM Hi thank you for the reply. Just to make 100% sure the email says to delete direct debit for credit cards. I have a loan with tesco bank, is it still ok to do the same, whilst I wait for a response from the team?

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Your Community Expert

Re: COVID-19 (coronavirus) information

Yes, please cancel the Direct Debit to ensure payment isn't taken @KTroopA.