Dangers of payment holidays on asset loans & other funding | Speirs Finance
Anyone would jump at the chance for a free holiday and at the onset of COVID-19 and during the initial extended lockdown, many did just this when offered payment holidays on asset loans, finance agreements and other forms of funding. This applied to both personal and business finance to provide some financial relief in a time of great uncertainty with a high degree of market disruption.
And just as COVID-19 has changed our view on holidays and travel and there are new risks to consider when holidaying, the same applies to finance any form of asset loan. Finance payment holidays generally took the form of either:
Easter Weekend
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Staying home over the break?
The long weekend is the perfect time to make your place safer for an earthquake with these steps:
• Find out where you can turn off your water and gas mains
• Check your chimney for any signs of wear and tear, or damage
• Check your home's foundations are secured
• Move heavy items that are up high to safer, lower down locations.
• Secure tall and heavy furniture and appliances
These simple actions can keep your whānau safer in case of a big shake, so tick them off and make the most of your break.