Firstly, speak with the finance provider and inform them of the situation. You may be able to negotiate a payment break that will give you the breathing space you need to reorganise your finances in the short-term. If that fails, it may be better to see if you can lower the monthly payments by extending the contract.

Prime Minister Boris Johnson and Chancellor Rishi Sunak have announced plans to help people facing difficulties as a result of the coronavirus outbreak - including business loans and mortgage breaks - but nothing specific has been outlined for personal loans or car finance as of yet.

For more information, see: www.honestjohn.co.uk/coronavirus/coronavirus-what-...g