Richard Lane, director of policy and external affairs at StepChange Debt Charity, said: "The extension of payment holidays for credit cards, overdrafts and other forms of consumer credit will come as a huge relief for the many thousands of households struggling to keep up with credit repayments during this pandemic. Pandemic epicentre celebrates as rest of the world scales down party to send off a year blighted by Covid-19, 'I will always be a European': Boris Johnson's father Stanley is applying for FRENCH citizenship after Brexit, 'Brilliant' 22-year-old mother of twins is found collapsed dead by her heartbroken boyfriend just two days after Christmas, Strolling free: Couple 'who had their adopted son, 11, killed for £150,000 insurance payout'. These are covered by separate guidance which will be updated soon, the FCA said. Credit card and overdraft payment holidays extended until October. EXCLUSIVE - Strolling free: Couple 'who had their adopted son, 11, killed for £150,000 insurance payout'. Britain FINALLY breaks free of EU rules - with Dover lying deserted on the stroke of 11pm despite warnings of queues and shortages, Look out Boris, Rishi may be Britain's destiny all too soon: A big majority, a vaccine, a Brexit deal. Specialist travel cards are so good for spending abroad because they don't charge fees. The Scottish Government has extended the ‘moratorium’ period for people who … Check here, * The new coronavirus supplement of $550 per fortnight is being added to several welfare payments - check if you are eligible here, * A list of Services Australia phone numbers for different information lines from crisis payments to low income health care cards is here, * Visit the Services Australia and register for a Jobseeker Payment or call to register on 132 850, * Centrelink advance payments are available in some circumstances. The move comes in addition to banks offering payment holidays on mortgage repayments to help struggling homeowners. On Friday, the FCA said it does not propose to extend this temporary measure across the whole market, but overdraft customers who are financially impacted by coronavirus will still be able to ask their lender for a reduced interest rate on any additional borrowing over their £500 interest-free buffer. How will proposed temporary relief help people with overdrafts? Retired medics beg NHS to use 40,000-strong 'Dad's Army' to dish... Drug used for more than a decade to treat cancer could cure Covid-19 - outperforming remdesivir in lab... www.heraldsun.co...https://www.heraldsun.com.au/lifestyle/customers-under-financial-stress-offered-repayment-breaks-on-credit-cards-and-personal-loans/news-story/a68d78232b70b6e705bd12a7d4b99e52. For customers still facing temporary payment difficulties as a result of coronavirus, firms should provide them with support by reducing payments on their credit card and personal loans to a level they can afford for three months. As of 21 May, 877,800 customer accounts had been given a payment freeze on their credit card. You’ll find a deadline date you need to respond by in the communication from us, to make sure there’s no interruption to the payment holiday if … You should look online in the first instance, as telephone lines are extremely busy at this time. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Check your eligibility here, This is estimated to cost Australia $4.8 billion, The second $750 payment announced March 22, A second one-off payment for welfare recipients registered on 10 July. Are you sure you want to delete this comment? Check if you get it here, Austudy and Abstudy have also since been added to the recipients, Finance Minister Mathias Cormann told the Senate on March 23, The time-limited coronavirus supplement will cost an estimated $14.1 billion, The first $750 coronavirus supplement announced on March 12, One-off payment to welfare recipients registered from 12 March to 13 April. A payment holiday is when you take a break from paying all or part of your monthly mortgage payment. Regulator is also proposing further support for people with credit cards, store cards and catalogue credit and personal loan customers, Find your bookmarks in your Independent Premium section, under my profile. Part of the Daily Mail, The Mail on Sunday & Metro Media Group, Experts warn those areas that spent Christmas in Tier 4 are most at risk of even TIGHTER 'Tier 5' Covid restrictions in January - despite data showing cases may already be falling in some of them, Brexit is DONE! Create a commenting name to join the debate, There are no Independent Premium comments yet - be the first to add your thoughts, There are no comments yet - be the first to add your thoughts. 'Interest and fees will continue to accrue to your balance, and at the end of the payment pause your total balance will be higher than it was before the payment pause.'. Customers who are negatively impacted by coronavirus and who already have an arranged overdraft on their main personal current account would be able to request up to £500 interest-free for a further three months. Your credit card provider will advise you how you can request a payment holiday. 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