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Should I or should I not take a payment holiday? | Doughgetters Accounting
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Should I or should I not take a payment holiday?

Should I or should I not take a payment holiday?

LIVE Q & A with Lulalend

The impact of the coronavirus on people’s ability to earn an income and remain committed to their financial obligations has been huge. 

A number of financial institutions have offered South Africans a payment holiday or an opportunity to pause or reduce monthly repayments for a period of time. 

There are some things to consider before taking a payment holiday, like:

  • How will this affect the repayment term and interest rates?
  • Who is eligible for a payment holiday?
  • How could this benefit business owners?
  • Are there alternative ways for a business to pay off debt at this time? 

We teamed up with our friends at Lulalend to answer some of these questions during a live Q & A video call. Watch the video below to learn more:

Source: Lulalend