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Not all banks at doing loan payment holidays the same way....
SimontheGuru
Posts: 1 Newbie
It appears that HSBC are not prepared (as yet) to do a loan payment holiday without it affecting your credit score... Yet other banks are! Why hasn't the Government legislated for this? A lot of self-employed people are in desperate need at this time and when it all comes to an end will face increased difficulty if in future borrowing is then denied them because of a lowering of their credit score - unfair...
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Comments
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Not because of a lowering of their credit score - but potentially because of what is reported on their files.
What exactly have HSBC said re CRA reporting? It would help others make informed decisions.0 -
My son has spent the full day trying to get through to the royal bank of Scotland to ask for help as he through carona virus is no longer able to work. The operator who answered was very ignorant telling him NO, as the government have not contacted them yet therefore if he doesn’t keep his payments up his credit rating will go down and he will incur further charges with added interest. Surely this can’t be the policy on how to treat customers at anytime never mind in our countries current crisis?0
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NatWest and royal bank of Scotland I have just been informed are NOT giving any help to customers with bank loan repayments... suicidal thoughts for many young men trying to stay afloat for their family, at such an awful period
thanx in advance for any advise0
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