Further Information on your Emergency Payment Freeze coming to an end

As your emergency payment freeze is due to come to an end soon, we want to explain what will happen at that point, so please contact us. If we have not heard from you, we will attempt to contact you to discuss your personal circumstances and whether your situation has improved or whether you are still experiencing any continuing difficulties resulting from COVID-19. We will also look at the possible options available to you. If we have not been able to contact you and discuss your current circumstances, please contact your Agent or business manager as soon as is possible.


No longer impacted by COVID-19?

If you are no longer impacted by COVID-19, we will remove the emergency payment freeze from your account and you can simply return to making your usual, regular contractual weekly payments. Please discuss with your Agent / Business manager the alternative ways in which you can make payments.


What will happen to my credit file?

As you are aware, during the emergency payment freeze period we did not report any missed payments as arrears. If your account was already in arrears at the point the emergency payment freeze was agreed, the same level of arrears continued to be reported on your Credit File throughout that period. When the emergency payment freeze ends the reporting will recommence with any outstanding arrears, as at the start of the emergency payment freeze remaining in place. In other words, you will be in the same position as you were when you first entered the emergency payment freeze.


Still impacted by COVID-19?

We are keen to work with you to understand your circumstances and look at the best options available for you:

  • You may be able to, dependent on your circumstances, extend the emergency payment freeze period for up to a further 3 months. This can be requested at any time up to 31 October 2020
  • If you are impacted by COVID-19 but are able to make a reduced repayment, you may be able to continue to make reduced payments and have an emergency payment freeze applied to your account for up to a further 3 months. This can be applied for at any time up to 31 October 2020
  • If you’d rather talk to someone else about debt or money worries, National Debt Line (www.nationaldebtline.org) and StepChange (www.stepchange.org) are specialist debt charities and offer free impartial advice. Alternatively, your local Citizens Advice Bureau are also on hand to provide expert support on a wide range of financial issues.

What will happen if we are unable contact you?

If no contact can be made, we will end your emergency payment freeze if we are unable to make contact within three weeks after the end date and recommence standard reporting to the credit reference agencies. As you are aware, during the emergency payment freeze period we did not report any missed payments as arrears. If your account was already in arrears at the point the freeze was agreed, the same level of arrears continued to be reported on your Credit File throughout the freeze period. When the emergency payment freeze ends the reporting will recommence with any arrears, as at the start of the emergency payment freeze.

You may also contact us by emailing customerservice@loansathome.co.uk or call us on our freephone Customer Helpline 0800 011 4490 if you have any further queries.

 

We look forward to hearing from you.

Loans at Home

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EMEGENCY PAYMENT
FREEZE ENDING