Payment Breaks

rusty-london

Could anyone tell me if banks allow customers to take payment breaks on personal loans?

I managed to take one when I had a loan through a finance company some time ago, but I wasn't sure if banks allow them as well. I could do with taking a break for a couple of months to sort out one or two financial problems I'm having at the moment.

Rafter

Some loans have this functionality built in but they are generally marketed as flexible loans.

You could ask your loan company to reschedule or even take a 'top up' loan which you use you make your payments for a few months?

If you really are having financial problems that aren't going to resolve themselvs though, you should go and talk to citizens advice or CCCS about your situation.

Good luck

R.

rusty-london

Thanks for that Rafter, I've mailed the bank and explained the situation, so with any luck they'll let me have the break.