Deferred Payment Agreement Guidance

While deferred payments may stop the account, interest charges continue to be paid until it is settled and the local authority must ensure that it draws the individual`s attention to this so that they can make an informed decision about paying the account. We charge your interest on the deferred amount, including any administrative fees you have deferred. Interest is paid daily. If you wish to request a payment deferral after needing independent financial advice, please contact Staffordshire Cares to obtain an application form. This can be a difficult and confusing time and we strongly recommend that you get independent financial advice before entering into an agreement. A payment deferral takes effect after spending 12 weeks or more in a nursing home. We don`t know the value of your home for the first 12 weeks of your stay in a retirement home. Short-term stays in nursing homes are not covered by the program. Only in England, if you have a payment deferral agreement, does your local authority have to consider the cost of maintaining your home if you decide how much you have to pay for your care costs.

If you have a payment deferral agreement and someone owns your home with you, they must accept the agreement and agree to have the house sold when it comes time to reimburse the local authority. If you don`t want to have a payment deferral contract, there are other ways to pay for your healthcare costs. Some examples are as follows: We need to check whether the equity available in the safety of the person (usually his property) constitutes a sufficient guarantee for the payment deferral agreement. . . .

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