Hi, I have been told that negative arrears amount on my online CU account means that I am ahead of schedule with my repayments. If this is the case can I take a repayments holiday up to the point where the Arrears value hits zero. Thank you
Thanks for your reply and as you speak I have had a definitive answer to the query I posed. Happily, yes I can take a holiday but I need to be aware of the interest element.
OK so as I understand it the interest accumulates as the holiday from payment is in progress so next time round your payment might need a little extra if the arrears cannot match the accumulation.
I hope I got that right!