Forbearance
Forbearance is the support a lender offers a borrower in financial difficulty, such as reduced or paused payments, a repayment plan, or extending the term. UK rules expect firms to consider forbearance before enforcement and to tailor it to the customer's circumstances.
Forbearance is not a single product but a range of options matched to whether difficulty is temporary or longer-term. The aim is a sustainable path back to performing, not simply deferring a problem.
Good practice records the customer's situation, sets affordable arrangements, and reviews them, all of which the Consumer Duty reinforces.
Credit Canary builds forbearance into one platform for UK lenders, with the data and decisioning behind it.
Missed PaymentsSee forbearance in a working platform
Credit Canary unifies credit risk, affordability and payments for UK lenders. Book a short walkthrough.
Book a demo