If you’re worried about your monthly loan repayments as a result of coronavirus (COVID-19), we’re here to help.
If you think you’ll struggle to make your loan payments because of coronavirus, we can help by offering our members a reduction in monthly loan payments.
Under a loan payment holiday, we will allow you to reduce your monthly payments for up to 3 months. It won’t affect your credit rating, so there’s one less thing to worry about.
You can apply for a personal loan payment holiday if:
It’s important to remember that a personal loan payment holiday is a temporary reduction in your loan payments, to help you through these uncertain times.
There are a few things to consider before applying for a personal loan payment holiday, to make sure it’s right for you:
Where we can, we’ll start your payment holiday as soon as possible however, it can take up to 2 weeks to change, due to it being actioned by your payroll.
In most cases we will be able to advise you instantly whether your payment holiday has been accepted.
Transave Credit Union trading as TransaveUK Registered Office, G4 Business Centre, Carlisle Street East, S4 7QD.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, Firm Ref No 21377.
Website Designed and Developed by Switchstance