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Relief for millions as three month payment holiday on credit cards and loans kicks in

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www.mirror.co.uk

Millions of households who have been hit hard by the coronavirus outbreak will be able to apply for temporary relief on their credit card bills from today, as new rules kick in across the board.

City watchdog, the Financial Conduct Authority (FCA), said the new temporary measures will act as a stop-gap to quickly support users at risk of falling into arrears because of a loss of income, sickness or a sudden change in their circumstances.

The measures, which come into force on Thursday, April 9, will allow people to access a three month payment freeze on their loans and credit card debts.

It said new measures to protect those on car finance will follow next week. Under the rules, anyone with an arranged overdraft on their main personal

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