Payment Deferrals are only intended to provide short term emergency help for people facing an immediate financial crisis due to the Covid-19 pandemic. Whilst helpful in some cases, they are not something that should be used as a matter of routine and, for people who can afford their repayments, taking a Payment Deferral can actually make both their medium to long term financial situation and credit record worse, not better.  As the FCA (our regulator) has confirmed that means if you can afford your repayments it is in your best interests to start repaying, rather than delaying even more of your instalments.   

Payment Deferrals do not excuse you from having to pay the instalments you deferred nor do they extend the length of your agreement, they just delay when during your agreement you have to pay those instalments.  This means that, at the end of your Deferral period you still owe the same amount of money as you did before, it is just that you have less time to pay it back.   
For people who have been impacted by COVID-19 and who cannot make payments as a result, Payment Deferrals are one of the tools we have to try and help but please contact us at  or call us on 0333 200 0030 as soon as you can, to see how we can help you.