Can I take a break from paying my loan?

ashh21 (1 year ago)

i would like to know if i can take a 3 month break from paying my loan.

FLM Loans (7 mths ago)

I'm afraid FLM don't offer repayment holidays or breaks. The reason we don't is that in our experience it actually works out worse for the customer. If you find yourself in a situation where you're chasing to catch up, it's just going to put more stress on you and leave you in debt for longer. FLM's advice is to keep your direct debit set up so you don't forget about the payment and manage your monthly outgoings so you can afford to pay back your loan each month, on time. That way you won't fall into arrears.

Comments (4)

chris d (11 mths ago)

i can understand your reasons for the payments still to be met but surely there are some circumstances where an account can be frozen for a period of time i.e laid of work due to illness and signed of work by a doctor for a period of time.

FLM Loans (11 mths ago)

Due to the nature of our lending, we're unable to offer payment breaks or holidays. With most big lenders they can afford to let you have a month off paying, but as we're a small company we can't. There's also another person who is responsible for the loan - your guarantor, who agreed that if you're unable to pay, they would pay for you.

Diana29 (11 mths ago)

How i can got to my loan ? I wont to know how much left from my loan?

FLM Loans (11 mths ago)

The remaining balance is just the figure that is given on your online account when you log in. If you want to pay it off early, that's all you need to pay to settle it, no extra interest or charges.


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