An account hold gives you time and space if you’re in financial difficulty and need a pause while you work out a longer-term plan, either on your own or with a free debt adviser.
What happens when your account is on hold:
We stop taking your regular payments during the hold period. If you want to, you can still make one‑off payments at any time.
Your scheduled payments are still contractually due. Any payments you don’t make in this time will count towards your arrears balance, and your loan term may be extended to allow you to catch up later.
Interest is frozen while your account is on hold, so your balance will not grow because of further interest during this period.
We will also limit contact to essential regulatory communications only, which is essentially information we are required to send you by law or regulation. We will pause our usual collections contacts.
Your credit file can still show missed payments. Even while on hold, missed payments can still appear on your credit report. Any payments not made by their due date will be reported to credit agencies as late or in arrears. This is to accurately reflect the position of your account.