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Payment Deferrals

Applying for a payment deferral

To make sure we provide the best support for you at this time please carefully read the following guidelines around eligibility for payment deferrals.

You can apply for a payment deferral if you meet both of the following criteria:

1) You require immediate and temporary financial support to help you deal with short-term financial difficulties as a result of COVID-19;

2) Your finance agreement with us is as a private individual, sole trader, or partnership;

For any general questions you may have about payment deferrals we have created a specific section of FAQs further down this page.

If you are eligible for a payment deferral and would like to apply you can use the Payment Deferral request form. 

If you do not meet these eligibility criteria please do not be concerned, we are still here to help and have other tailored support options which could be more suited. Please review our FAQ section below for further information before completing the financial difficulties form and we will be in touch.

Important information

In November 2020, the FCA updated the Payment Deferral guidance to provide the following important information:

1) Customers who are newly impacted by COVID-19 related financial difficulties may request a payment deferral at any time until 31 March 2021 to defer up to 3 monthly payments;

2) Customers may go on to request a second payment deferral to defer a further 3 monthly payments up to and including 31 July 2021. The FCA has set this deadline by which all payment deferrals must come to an end; and

3) A first and second payment deferral request must be made consecutively and should be made in good time before regular monthly payments fall due to avoid any delays or difficulties in processing requests.

You should approach VWFS in good time before your February 2021 payment is due if you want to be considered for the maximum 6 months’ payment deferral.

E-signing your modifying agreement

Once your payment deferral has been approved we will email an invitation to you from our e-signature platform Scrive, to e-sign a modifying agreement  – this is needed to action your request for a payment deferral. You can download a complete guide on how to e-sign your agreement below, and also see the FAQs specifically related to e-signature. 

Payment deferral FAQs