How Confidas can help you if your current income has been impacted by Coronavirus (Covid-19)
Ways we may be able to support you:
· By reviewing your levels of cover
· Changing instalment dates
· Payment deferrals
What is a payment deferral?
· A payment deferral normally means that when monthly payments resume, the amount that has been missed gets spreads over the remainder of the agreement.
Is a payment deferral appropriate for me?
· Payment deferrals should only be used when absolutely necessary, the full credit agreement balance will still be due, but will be paid over a shorter period.
· The total payable will not increase as a result of a payment deferral as we will not charge any additional interest.
· Agreed payment deferrals will not have a negative impact on your credit score (if applicable).
What should I do next?
· If you are struggling financially please contact your insurance broker in the first instance and discuss your needs with them.
· Do not cancel any payments or direct debit through your bank as this may have an adverse impact on your policy with us and your credit score.