As you will be all aware the government has announced that the UK is going to be in lockdown for a further three weeks. Here is our round up of the latest news this week.
Finance and Loan repayments
The Financial Conduct Authority (FCA) is announcing that it plans to make a deal with Car Finance Companies and other rent-to-own, buy-now-pay-later and pawnbrokering loans to delay repayments as commented by the BBC News today 17 April 2020 https://www.bbc.co.uk/news/business-52321723.
Those people with a payday loan will be given a one-month ‘payment holiday’ and last week the FCA announced a three-month freeze on loan and credit card repayments.
These are all positive moves for debtors and also in the long run for loan companies as it makes it more likely that the debtors will be able to pay the loans in the future.
Coronavirus Job Retention Scheme
The London Chamber of Commerce announced by email today that if you’re eligible for the scheme, which becomes live on Monday 20 April. You’ll need to provide the following information:
Contact us to be put through to one of our employment solicitors who can advise on the above in further detail.
Recovering Debts – contact us for further information