What are my options after a second COVID-19 payment break?

Where you are able, returning to your previous payment arrangement, as soon as can you afford to do so, is in your best interests as it will reduce your interest cost over the remaining term of your loan.

Where you are not yet ready and need some longer term support, we can help. It is important that you understand how those options will impact your loan and we have outlined that information below. If you need any more support to help you select the option which works for you, please contact us.

Option 1: Return to full repayments

I want to return to full loan repayments
When you started your payment break we gave you details of the amounts and dates in our letter which apply when your payment break ends. If you want to go back to full payments, you don’t need to do anything. We will arrange it for you. The repayment date of your loan will remain the same.

If you cancelled your direct debit or standing order in the last six months, you will need to set it up again and make sure there is enough money in the account, to avoid missing any payments. If you don't pay by direct debit or standing order, please make sure that your loan payment arrives on time.

Option 2: Worried about returning to full repayments

I need more help and support to make my loan repayments
We aim to continue to support you through this situation.

If you expect that you will have longer-term cashflow issues as a result of COVID-19 and are unable to return to full loan repayments, the important first step is to call us on 0818 300 127. We will assess your circumstances and then suggest the next best course of action. Please visit Worried about Payments for more about our long term options.

Frequently Asked Questions

Common queries

Can I have a third payment break?
If you have already had two COVID-19 related payment breaks you cannot have another one. However, if you expect that you will have more long term cashflow issues as a result of COVID-19, and you will be unable to make your repayments, the important first step is to call us on 0818 300 127. We will assess your circumstances and then suggest the next best course of action. Please visit Worried about Payments for more about our long term options.
What if my Relationship Manager has been looking after my case?
If one of our Relationship Managers has been dealing with your case, feel free to contact them.
Do I need to change my direct debit or standing order if my payments are changing?
No. However, if you cancelled your direct debit or standing order in the last six months you will need to set it up again. You can do this by contacting your local branch.
What if I pay by standing order or with cash?
If you pay by standing order or cash, you need to adjust the payment amount yourself.
Is there a way I can spread my payments out?
If you expect that you will have longer-term cashflow issues as a result of COVID-19 and are unable to return to full loan payments, the important first step is to call us on 0818 300 127. We will assess your circumstances and then suggest the next best course of action. Please visit Worried about Payments for more about our long term options.
If I take a payment break because of COVID-19, will it affect my credit rating in the future?
No. There will no negative impact to your Irish Credit Bureau / Central Credit Register record as a result of any option chosen once the agreed payments are met as they fall due.