New rules, including payment holidays, were introduced to help people whose finances were affected by coronavirus. However, applications for coronavirus-related payment holidays closed on 31 March 2021.
However, you can approach your creditors to ask for an informal break from payments, to give you some time to deal with your debts. Each creditor will consider your request differently, and may decline. A payment break may affect your credit score.
In Scotland, the Government's ‘moratorium’ period, for people who have debt problems, lasts six months. During this time creditors aren’t able to take action to recover the money owed. If you're considering a moratorium, you don't need to get debt advice from an approved money adviser, but we recommend you do so.