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CreditSmart - COVID-19 payment pauses and deferral

Australians impacted by COVID-19 may be able to access a further four-month payment pause or deferral on their loan repayments from their lenders to help them get back on track – but that will not be automatic and consumers need to consider their options carefully. Australian Retail Credit Association (ARCA) are helping consumers understand the impact of COVID-19 payment pauses.

Consumers can visit CreditSmart infographic for common scenarios on how a payment pause or deferral choice could impact their credit report.

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