PSA Finance UK Limited
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Shockingly Bad
Having not been able to work through any of the lockdowns, i had to take payment holidays, but the interest PSA charge is shocking. Absolutely no use talking to PSA about it as they dont care about their customers. The irony is when you ring PSA they are shut because of the lockdown & working from home. Not all of us can do that.... Also i came across this on the internet: In determining whether a 3 month payment deferral is obviously not in customers’ interests, firms should consider both customers’ need for immediate temporary support and the longer-term effects of a payment deferral on the customer’s situation, in particular the customer’s ability to repay any accrued interest once the payment deferral ends, and over what period. The interest rate and remaining term will be among the relevant considerations. For example, a payment deferral would obviously not be in customers’ interests if it would give the firms’ customers a greater overall debt burden compared to other solutions (that might involve reduced or waived interest for example) that could equally meet customers’ needs and that debt burden would be clearly unsustainable.