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Refused extension to payment holiday
mutley66
Posts: 7
Forumite
Hi, I’ve a payment holiday on my PayPal credit account and have called them today to request an extension. They have refused, saying they were not obliged to give me the first payment holiday, they don’t know anything about the extension (that I understand the FCA have instructed). Can they refuse to do this as I understand they should be adhering to the instructions set out by the FCA ?
Regards
Regards
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Comments
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I am pretty certain that PayPal Credit is not a regulated service and it definitely does not hold a banking license so I am not sure it is bound by the guidelines.
They are also guidelines, there is no requirement that a first or second payment holiday is granted to anyone, it is at the discretion of the lending institution.
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