Hi Lulu,

You can ask for a repayment holiday for upto 3 months, but there is no guarantee they will provide one, and during this time the interest on the loan is added on and you will end up paying more.

You might have to provide a reason for the holiday other than you are struggling as this will likely worry them. Perhaps that you are looking to pay for an actual holiday?

If the payment holiday is agreed it won't be recorded as a late payment on your record, but I'm not sure how it will be displayed.

HTH

Sparky.

Hi,

I hope someone can help? I have a loan out with Santandar (it was previously GE Money Asda Loan) my monthly repayment is £315 per month and I have been paying this for 2 years without any problems. I want to take a 1 month break from paying as this month money has been tight. If I call Santandar and ask for a 1 month break is this feesable? and do companies consider this i.e. if they said yes to a break would it go on my credit rating as a missed payment?, will I have to pay more interest? Do companies even offer this service? Any help would be greatly appreciated

thanks.