If you are in negative equity, by requesting a morotorium, if granted, you will roll up another 6 months interest, the negative equity will increase by this amount and will probably even be more as prices continue to fall. You have little chance of this being granted. In some instances this might be done eg illlness, medical expenses, education etc, but not for 2 new cars, forget it. The morotorium will be registered on the ICB in most instances, this could impact your credit rating, the TRS is still valid as far as I am aware, but call the revenue and they will tell you, 1890333425.