One of the money management COVID-19 measures that the Government introduce was that which allow eligible borrowers to apply with their bank or financial institutions on a moratoria on for example:
o Business and commercial loans.
o Buy-to-let loans.
o Personal loans.
o Bullet loans.
o Bills of exchange (including endorsed pour aval).
o Promissory notes.
When first announced borrowers were granted a moratorium between 1st March 2020 and 30th June 2020. The Government announced that borrower who can demonstrate that their situation will not improve within the original six month perio may apply by not later than 30th September 2020 for an extension of an additional period of six months – which shall start from the day after the end of the first moratorium period.