Do Barclays loans do 'payment holidays'...?

ferry

Hi all
Was just wondering if anyone knew if Barclays would consider a 'payment holiday' for 3 months for long time customers while I am trying to to bring my monthly outgoings down..?
I'd like to allocate 3 months worth of loan payment to sorting out other small debts elsewhere..

Thanks

terry

YorkshireBoy

You'll have to either look at your credit agreement, or ring Barclays (perhaps anonymously or as a potential new customer - 0800 number on their website) to check this one out.

My only concern is whether Barclays would update your file at the CRA's with an "arrangement to pay" for the 3 month payment holiday?

ferry

Thanks Yorkshireboy.
After I posted I wondered the same thing about it being registered with the CRA's.

Anyone shed any light on this..?

Rafter

Doesn't look like Barclays do flexible loans which offer this kind of facility.

You can move your payment date from the looks of things though if that helps.

So if you are currently paid on say 28th of the month and your loan goes out on the 5th of the next month, you could move the payment date to 30th, after your next pay day and therefore free up one months payments to sort out some of your smaller debts.

Otherwise I think your 'payment holiday' request might be treated as you being in financial distress.

Other ideas........

You could ask them for a 'top up' loan to pay off your other debts?

You could try and get a zero% credit card to pay off your other debts?

You could try to get a flexible loan somewhere else, although you normally need to make at least 3 payments in a row before they will consider giving you a payment holiday.

Good luck.

R.