MSE Poll: Have you applied for a payment holiday?

MSE_Petar

Poll started 21 April 2020

With many struggling as a result of the coronavirus crisis, lenders, utility firms and others are offering some the opportunity to take payment holidays, where you stop making payments for a set period (though beware, in many cases you will still rack up interest). So we want to know how many are applying for a payment freeze, and on what bills...

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Did you vote? Are you surprised at the results so far? Have your say below.
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RelievedSheff

I don't think the results are a surprise. Payment Holidays (not sure why they are called that) are an absolute last resort.

MovingForwards

RelievedSheff said:

I don't think the results are a surprise. Payment Holidays (not sure why they are called that) are an absolute last resort.

Sadly, based on what I'm reading, people are doing it because it's available, not because they are struggling.

Wonder how many posts there will be from people complaining their mortgage or other payment has increased and they didn't know the missed payments are getting tagged on and incurring additional interest? Quite a few I expect, again based on the amount of posts and people explaining, re-wording it, providing figures to show how much it will add.

onlyfoolsandparking

The poll results make surprisingly good reading if they're accurate of course and it displays more people are running their finances in such a way they can weather this lockdown for a few months. I wont be applying for any payment holidays for anything even though I'm over a £1000 down a month at the moment. I've worked out my spending has also gone down with not being able to go out socialising etc and whilst the savings I'm making don't equate to the loss in income, they're not millions of miles apart.


I suppose the only really useful thing one can say in current climate is if you need payment holidays then you need them simple as that, hopefully people will learn from what's happened though and be more stringent with their finances going forward.

20SmthngSver

I have for my 0% agreements. Absolutely not for mortgage, as interest still gets added and could cost thousands more over the term. Haven't for phone etc. Gym was automatically frozen. Fibre provider let me downgrade to the cheapest.

The council couldn't give a tinkers cuss. They are ploughing ahead with their 4% increase, despite most services not running now. It's disgusting. Especially as Central Government has just splashed out £3.4 billion to help councils. They should cut some of the admin and bureaucracy in staffing, reduce their wages and stop bonus/high pension contributions. I know someone at a local council who gets a 18% monthly pension contribution. Not what the council is for. Public money isn't there for private benefit. It's a vocational public role, not a capitalist enterprise. They are saving a fortune in wages not being paid at the moment.