Struggling borrowers risk missing payment holidays

Millions of borrowers who expect to miss loan or mortgage payments may be leaving it too late to request payment holidays, according to credit report provider Credit Karma UK. With the average approval time for payment holidays on loans and mortgages taking upwards of a week, the firm is urging borrowers to act quickly to avoid unauthorised missed payments and long-term damage to their creditworthiness.

Source: financial reporter
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