Repayment Problems

Repayment Problems

Have a problem meeting your loan repayments?
If you are having problems meeting your repayments, please contact us early on: 0800 227 484

Our collections team will listen to your situation and endeavour to come to a suitable altered repayment arrangement with you.

What are the costs & consequences of missing a payment (without our agreement)?
If you miss a payment (and this has not been agreed with us BEFORE you missed the payment) we can charge you default interest (if allowed in your agreement), default fees and any other charges relating to later stages of default.
Click here to see the fees and interest applicable on a default.

We strongly recommend you contact us as soon as you think you might miss a payment.
If you contact us early to arrange a make-up payment within 48 hours, we may be able to wipe some of the default fees and interest.
If you wait until we contact you about a missed payment then default interest and fees will usually be charged.

What are the costs & consequences of an altered repayment arrangement?
If we agree an altered repayment arrangement with you then generally this will mean you are making smaller repayments and/or making repayments over a longer period.
Both of these will mean you are incurring interest for a longer period than expected, so you will most likely pay more interest.
You will also be charged a small fee for the altered repayment (refer to our cost of borrowing page).

To avoid additional interest charges, you may wish to explore ways of repaying your loan earlier, e.g. borrowing money from another source (family, friend, bank, etc.), selling an unnecessary asset, re-prioritising your use of the cash you do have available, etc.

What if I am suffering Unforeseen Financial Hardship?
If you are suffering from genuine unforeseen financial hardship and you wish to make a formal hardship application, please click here and complete the online screen to request a financial hardship application form and guide.

Where can I get budgeting advice?
There are free budgeting services such as, or Citizens Advice Bureau.
Visit our External Resources page for more suggestions.