In March the Chancellor, Rishi Sunak, announced the government furlough scheme will be extended until September 2021.
The Coronavirus Job Retention Scheme was introduced in March 2020 and has protected over 11 million jobs by paying 80% of employees’ wages for the time they cannot work due to the pandemic.
This lifeline for many was due to end in April 2021 causing uncertainty for many, including the millions of self-employed people affected by the pandemic.
Help for the Self-Employed
The government also announced it is extending its support for self-employed people, relaxing access to grants meaning an additional 600,000 more people will be eligible.
A further 2 grants will be available covering trade from February – April and May – September 2021. To find out more about the governments support for Self-Employed people visit the Budget pages of the gov.uk website.
Re-opening the Economy
As the Job Retention Scheme continues, companies will be expected to begin contributing towards employees’ wages later in the year as the economy begins to reopen.
There has also been a large tranche of funds made available for the “Culture Recovery Fund” to enable museums and other community cultural projects, pubs, sports clubs in danger of going out of business to begin to reopen throughout the summer.
This is estimated to provide help for around 700,000 jobs.
If you feel your circumstances dictate that you cannot make a payment, please let us know as soon as possible so that we may assist you.
Depending on your situation, we may be able to;
- Temporarily freeze payments to your loan to offer you some breathing space
- Spread your contractual loan balance over a longer term to reduce your monthly payments
- Agree to reduced repayments for a period of time.
At no time will you incur any late fees or default charges for missed payments (QuidMarket does not charge any late fees or default fees for missed payments).
We will assess each Customer on a case by case basis during this period of self-isolation due to COVID-19. We are here to assist you and will do everything that we can during these unprecedented times.
Please see our website for more information about what QuidMarket can do to help you if your circumstances have been affected by the Covid-19 pandemic.
Help and Advice
If you or your finances have been affected by the pandemic you can view the dedicated Help and Advice section of our website.
If you feel your problems are more wide ranging and long lasting you can find details of various organisations offering different levels of support.
Or, if you need help or advice on how to speak to, or deal with, the various creditors you have and you are in a position to speak to them yourself then you can phone the National Debtline on 0808 808 4000. They can also offer budgeting advice and have an online tool call My Money Steps.