Three-month extension for Covid relief on consumer credit

By Neasa MacErlean

Consumer credit customers experiencing payment difficulties are to be given an extra three months to apply for a payment freeze — or, if they already have such an arrangement in place and are still in financial difficulty, they are to be given a three-month extension. These proposals are being consulted on by the Financial Conduct Authority, with interested parties needing to reply by 5pm on Monday, 22 June 2020.