POSSIBLE ALTERNATIVE ARRANGEMENT OPTIONS OPTIONS AND SOLUTIONS STEP 3
OPTION 1
Temporary Reduced Payment Arrangement A temporary reduction in payment is considered when there is a short-term impact to the business which is reasonably expected to be resolved.
Interest Only Period During an interest-only period no payments are made off the capital, so the loan balance is not reducing.
Important To Remember Arrears will accrue during the time that full contractual payments are not made and will need to be addressed after either of these options have matured.
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