Can’t repay CC - isolating for 12 weeks!

quietly_myself

I agree with you callum9999 I don’t know why they’re not offering Repayment Holidays - other companies are, but Barclays so far have been offering only the minimum of assistance. Considering they’re also unable to deal with the volume of phone calls they’re getting, you’d think trying to mitigate reputational damage would be a high priority but hey, I suspect they won’t until they’re forced to. 

sleepyjones, I applied for Universal Credit earlier in the week, but it sounds like they’re inundated so it could be a while before I hear anything. 

alfred64

If you’re going to struggle to make your monthly credit card or personal loan payments because of COVID-19, you might like to consider a payment holiday.

We're working to put a simple online process in place, so you can apply for a payment holiday of up to 3 months without affecting your credit rating and without the need to speak to us. We’ll contact you again when this is available to use, which should be within a few days.

It’s important to know that payment holidays are subject to approval and may not be right for everyone. Because you’ll be borrowing for longer and interest is still charged, the amount you repay overall will increase. Monthly payments will be recalculated at the end of your break.

rmsc3r

I would recommend contacting StepChange (other debt companies are available). They can arrange a repayment plan for you, that you could afford, with interest and charges frozen. This could avoid the need for bankruptcy (final resort!) - there are other steps available before this as well.

[Deleted User]

You would think banks would actually send an email or make some form of contact with regards to help but you have to go searching for it online. If your with Nationaide, like myself they are offering a 3 month holiday on CC repayments with something along the lines of only a minimum repayment per month for £1, but as and when the time comes to repay you don't want to be making the lowest repayment as you'll just end up in further trouble. I'm awaiting Nationwide to review my request but since I've been making more than the minimum repayments each month I seem to have ticked all the boxes to be accepted, we will have to see. 

molerat

Daveym79 said:

You would think banks would actually send an email or make some form of contact with regards to help .......

I am being overloaded with e-mails and pop up messages on browser banking and apps.

Simbad

I'm also with Barclaycard and am extremely disappointed that they aren't offering a credit card payment holiday. I'm currently repaying just over £100 a month, but that would make so much difference to me right now.

They've only sent out 1 email which says they're stopping late payment and cash advance fees for Barclaycard customers for the next 90 days.

Yes, a repayment holiday will add more to your repayments in the end, but people really need the break right now.

Mortgage, loan and credit card repayments should all be treated the same by the goverment.