Millions of people in the UK who have been hit financially by the coronavirus pandemic may be eligible to apply for temporary relief on their credit card bills.
New rules have been introduced from today as a temporary measure to support those at risk of falling into debt after receiving a pay cut, being furloughed, sickness, or a sudden change in their circumstances.
The Financial Conduct Authority (FCA) said those vulnerable will be able to access a three-month payment freeze on loans and credit card debts, but has warned customers should think carefully before applying.
The regulatory body also announced new short-term relief measures to protect those on car finance will follow next week, as reported by The Mirror.
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