Relief as monthly repayments have been waivered in flood hit areas

August 17, 2007

The recent floods that have hit the UK have seen thousands of people homeless and they have put them in a financial mess. With ruined furniture, no home to go to and plenty of stress, luckily one thing that they will not have to worry about for 30 days, is their monthly credit repayment.

At least that is what Barclaycard is saying. Unfortunately no other banks as of yet have also offered this option to their customers. Barclaycard however said that they know how stressful it must be for their customers after the recent floods and therefore they do not expect any repayments for up to 30 days.

Now some people may argue that 30 days is not a long time considering what these people have been through. However it is certainly better than nothing and if you are struggling with repayments because of the flood, it may help if you contact the bank yourself. If you are not a Barclaycard customer then get in touch with the bank or lender that you are with and ask them what can be done to help you. If you have not taken out insurance on your credit card then some lenders may refuse to help you because of that. However, you never know unless you ask so it is certainly worth enquiring about.

As well as no repayments for a month, interest and late fees also do not apply. So if you have been hit by the floods and you are a Barclaycard customer then you can focus more upon your home then your repayments which may be due.

Overall this is certainly a big help for many Barclaycard customers and it would be great if other banks and lenders took the same step to help out their customers. It may well be worth writing to your lender to see if they will do this if you are struggling because of the floods.