Stay Alert
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Two months into the various states of lockdown – don’t go to work, go to work, stay indoors, go to work, don’t go outside, go outside – my tower of unread books is still waiting to be read and I haven’t acquired any new skills, however, I learnt, at the time of a top Aide taking a day-trip to test his eyesight, that Dom, in Dutch, translates as ‘stupid  and that an Indie craft beer company selling drinks for delivery and collection reminds its customers ‘ Don’t test your eyesight going for a drive. We’ll deliver it, for free, to your doorstep!’ (they incidentally stock a specific bundle that is brewed between No.10 and Barnard Castle).
We all make mistakes; the challenge in avoiding mistake-making is being alert to what is happening. The idiom, familiarity breeds contempt, has some mileage. When something is familiar, we can overlook dangers and what we are tempted to believe. We think we recognize something and think (as our own PM has recently said) ‘it’s time to move on’. When we are our own checker our minds don’t bother with needless checks as our ‘mind’ sees what it wants to see.
With mortgage payment holidays due to end soon for initial claimants, lenders and regulators will now be focusing on what happens at the end of these 1-in-6 mortgage payment holidays. There is an extension to October 31st. Credit reporting will have placed a non-showing ‘emergency payment freeze’, latest balances, contributing to overall debt level, will (and will have) continued, showing alterations each month and outstanding mortgage balances, including interest racked-up, means that mortgage payments will likely be higher than they were before the holiday. When a long-term impact is not apparent, you can be sure that extra checks are added to the risk assessment tool.
Using a recent public messaging style to illustrate what might now happen to credit file: credit report is not affected but is affected, which could affect the ability to get future credit, or might not affect future credit if the effect is not affected.
Stay alert to invisible risk.
Article credit: Copyright SUF © 2020
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