I was put on furlough during the pandemic and then was called back, and then put on furlough again. While I was receiving some wages, it was not enough to pay all my bills as I was pretty much in some serious debt. I did phone and speak to my bank and those I owe and they were gracious about matters and put me on a different payment plan so I only had to pay a few quid a month for the accounts.

My question is that when I recently checked my credit report, it shows those accounts as being late or in arrears. I thought the arrangement I had with these accounts would keep them up to date and not late??




While it is fortunate that lenders and banks are working with those clients that have been impacted by the pandemic and their jobs placed on furlough, the fact is if you make payments other that the contractual agreed amount, it can and will affect your credit history.

Many lenders are offering a “breathing space”, time to sort out your finances, and while again this is great, your accounts have to reported as they are actually paid.

I would hope, and like to think that in the future when lenders look at credit histories, and they see something like arrears or lates being reported during this time, the time of the pandemic, they take this into consideration and realise many people had financial hardships during this time.



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