We know customers currently paying off their loans might be affected by COVID-19 and we’re looking closely at options to provide as much relief as possible.
Update from 8 May 2020:
We’re working with our banking partners to offer a 3-month interest waiver to qualifying customers starting from June 2020.
If you’ve completed 3-months in a forbearance arrangement related to COVID-19, but are continuing to experience financial difficulties and aren’t able to resume making payments, you can apply for additional forbearance. To extend your forbearance, we’ll ask you to provide us with further details about your income & expenses and to provide supporting documents.
- If your request is approved, we’ll waive the interest from the first 3-months of your COVID-19 related arrangement.
- If your request for additional forbearance is declined, you won’t be eligible for an interest waiver and you’ll need to resume monthly payments.
It’s important that you keep us informed of any impact the COVID-19 crisis is having on your ability to make your payment as scheduled. Email our team before you miss a payment at email@example.com so we can discuss your options.
Measures to freeze interest, which you may have seen introduced by some governments and federal institutions, aren’t applicable to private lenders like Prodigy Finance. All the latest updates are available on the COVID-19 Resource Center. You can also read more about our forbearance options and the ways in which we’ve already updated our policies in response to the COVID-19 situation in this FAQ.