What happens if I miss a payment?

If you miss a scheduled direct debit repayment, we will notify you by email and will reschedule the direct debit, generally for about five days later. You may incur fees for missed repayments as outlined in your loan contract.

If you miss multiple scheduled payments, we may engage our specialist debt collection agency to assist with recovery activity. Defaulting on a loan may affect your credit history, and this may, in turn, affect your ability to borrow in future.

If you are having trouble making your repayments, you should contact us.