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COVID-19 FAQs

    I saw information from the FCA about payment pauses on loans, credit cards and overdrafts, does that mean I can pause the payments on my Braemar Finance agreement?

    On the 3 April the FCA published an article about support for consumers with personal loans, credit cards and overdrafts. You can read this article here.

    Do I need to make payment during lockdown?

    Yes, you should continue to make payments as you would normally. 

    If you’re struggling financially, please call us on 01563 897213 to discuss your agreement.

    I am not working, what should I do as I think it will impact my ability to pay?

    Please call us on 01563 897213 to discuss your individual circumstances and the options available to you.

    Do you offer payment holidays?

    Based on a customer’s individual circumstances, we might be able to offer a payment holiday of up to 90 days.

    Please contact us on 01563 897213 and we can discuss the options available to you.

    If you have already spoken to us about a payment holiday you don’t need to call us back. We’ll contact you and will work with you to agree what happens next based on when your original payment pause was agreed and your individual financial circumstances at the end of the holiday.

     

    I arranged a payment holiday and now you’ve contacted me telling me my account is in arrears, what should I do?

    Your payment holiday arrangement is forbearance for your current situation due to the circumstances of Coronavirus and we’re not waiving any rights we may have under the agreement. 

    Under the Consumer Credit Act, we’re still required to send you some statutory notices as your agreement may show in arrears and could accrue fees and charges during this period. Please ignore these statutory notices during your payment holiday. Whilst your arrangement remains in place, any fees and charges accrued during this period will be removed. Your credit file won’t be negatively impacted as a result.

    I have had to take unpaid leave and I’m unable to pay my agreement, what should I do?

    Please call us on 01563 897213 to discuss your individual circumstances and the options available to you.

    I am already behind with my repayments, what should I do?

    Please call us on 01563 897213 to discuss your individual circumstances and the options available to you.

    How will missed payments affect my credit file?

    Whilst your arrangement remains in place, any fees and charges accrued during this period will be removed and your credit file won’t be negatively impacted.

    To speak to any of the credit reference agencies, they can be contacted using the following details:
    www.equifax.co.uk or 0800 014 2955
    www.experian.co.uk or 0800 013 8888
    www.transunion.com or 0330 024 7574

    I have received a letter from you asking me to contact you.

    If we have already agreed a payment holiday with you, under the Consumer Credit Act we’re still required to send you some statutory notices as your account will technically show in arrears and could accrue fees and charges during this period. Please ignore these statutory notices during your agreed payment holiday.

    Whilst your arrangement remains in place, any fees and charges accrued during this period will be removed and your credit file won’t be negatively impacted as a result.

    I would like to pay off my agreement

    If you want to pay off your entire finance agreement early, please contact us on 01563 897213 or email your request including your agreement number to csbraemar@braemarfinance.co.uk.