Credit card and loan payment holiday extension

Rangytangy

In a little bit of a dilemma due to me being affected by Covid 19 have been on payment holiday for both a loan and credit card from the same company these holidays are due to end on the last day of June.I am led to believe that the fca are proposing to extend these holidays but the company say they are not aware that this extension is yet in place and want me to make take up payment plans which I am reluctant to do as I have a feeling they will be able to hold me to these payments even when these payment holidays are given the green light are other people having the same problem waiting for the fca to confirm.

[Deleted User]

They will likely be extended yes, it is likely that confirmation of that will be published and come into action tomorrow. However remember that banks are not obliged to extend this to people, especially in cases when doing so would put them in further hardship (the debts still accrue interest, so are increasing every day).

They may have already decided is that you are not suitable for a second payment holiday and a repayment plan would make more sense based on your circumstances. If you were put on a payment plan they could choose to allow a payment holiday or not, it would be their choice, just as they may choose not to grant a payment holiday if you do not take the payment plan.