Scam of the week

The FCA has told lenders that they must contact customers coming to the end of a first payment freeze to find out if they can resume payments. If so, they must agree a plan on how the missed payments could be repaid.

Anyone still struggling financially can also potentially have their credit card and loan payments frozen for a further three months.

Customers who already have an overdraft on their main current account can request up to £500 interest-free for a further three months. Lenders must also give customers who have not yet had a payment freeze or an arranged interest-free overdraft of up to £500 the option to request one before October 31.

WILL THIS AFFECT MY CREDIT RATING? Any payment freezes offered under this guidance should not have a negative impact on credit files.

But remember that credit files aren’t the only way lenders can assess creditworthiness.

DOES THIS GUIDANCE APPLY TO ALL LENDING? No, just credit cards, loans and overdrafts.

I HAVE heard more reports of scams involving Covid19 home testing kits this week. Fraudsters have been contacting victims via email and text saying that someone they have been in contact with has tested positive for coronavirus. The message goes on to say that they now need to do a home test and that the recipient must pay £19.99. It asks you to pay by clicking a link – but it’s a scam. Home testing kits are now available but they are free. They should only be obtained via the official Gov.uk website.