UK extends payments of gel for consumers struggling with debt | Money


The UK’s financial watchdog has extended the emergency measures in order to allow consumers in financial difficulty because of the outbreak of coronavirus gel loan and credit card payments until October 31.The measures that were announced by the Financial Conduct Authority, in April, for an initial period of three months, also includes the bank overdrafts, store cards and catalogue credit.

Customers who still have the request for payment of a gel, or an arranged interest-free overdraft up to £500, can apply until October 31.

For consumers who have already taken one and are still experiencing payment difficulties due to the health emergency, the FCA has indicated that companies should continue to offer support, including the deferral of payment, or reduce the amount of payments to a manageable level, for a period of three months.


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