Worried about missed payments
Missed payments can be something as simple as forgetting the due date, or your payment not clearing in time. Here’s how we can help you to avoid missing a payment, and what support we can offer if you do.
How to avoid missing a payment
There are a few ways to pay, so choose the option that works for you.
Worried you’re going to miss a payment?
Please contact us. We may be able to help.
To avoid missing a payment, we’d always recommend setting up a Direct Debit, to at least cover your minimum amount, or more if you can afford it.
A Direct Debit is automatic. So, as long as there's money in your account, you won't have to worry about paying on time.
How to set up or edit a Direct Debit
Online
Sign in to your online account and go to ‘Payments’.
Phone
Call us on 0800 952 4966
We can always change your payment due date for one that works better for you, such as pay day. Arrange the Direct Debit to come out a couple of days before your due date, to give yourself a buffer if there’s any kind of delay in the funds clearing.
What happens if you miss a payment
If you miss a payment, or you make a payment after the due date, we’ll add interest and fees to your account. We may also have to let the credit reference agencies know.
Missed payments can show on your credit file and affect your credit score for up to 6 years. If you apply for any type of credit during that time, lenders will be able to see this when they do a credit check, which may affect your ability to get credit in the future.
Sometimes missing one payment can lead to missing another - it’s easy for things to spiral. Please contact us, before it gets to that stage.
Help if you’re struggling to make payments
Finances are such a personal thing, so we’re always happy to work with you to find the best solution.
Worried you’re going to miss a payment?
If you think you might end up missing a payment, for whatever reason, please do speak to us as soon as possible. We can often find a solution that prevents you from falling behind and helps you stay on track in the future. Whatever your circumstances or your concerns, you can contact us and we’ll be here to help.
Set up a Payment Plan
A Payment Plan can help you get back on track. Depending on your situation, we may be able to offer you a Payment Plan that:
- Spreads the cost over several months
- Stops interest and fees for a while
It can be tough, but the sooner you start, the sooner you can get back on track. If you’re already behind on payments, it’s easy to set up a Payment Plan in the app. But if you feel like talking things through, then give us a call on 0800 952 4966
If you’re currently up-to-date on payments but you think this might change, you’ll need to call us if you want to set up a Payment Plan.
Our customer support team can help you find the right solution. We can also adjust plans or find new solutions if you need.
Defaulting on your account
If you miss 6 or more payments, your account may default. Defaulting means you’ve broken the terms of your credit agreement. A defaulted account stays on your credit file for 6 years, from the date of default. This could impact your ability to get credit in the future.
We’d much rather help you, before it gets that far. There are many different reasons why people miss a payment, so whatever your situation, please let us know.
Free support from other organisations
There are many independent organisations that can provide free, confidential advice on your finances.
They can help you:
- Get the benefits you may be entitled to
- Understand which debts to prioritise
- Look at your income and outgoings
- Work out how much you can afford to pay and who to pay first
Remember, whether you speak to us or to someone else, it won't negatively impact your credit file.
For debt support
These organisations can provide free debt advice, from helping you to budget and find ways to reduce spending, to prioritising your debts. They can also look at solutions for consolidating your debt, and help set you up on a repayment solution.
Advice on managing your finances
If you're just looking for some free money or debt advice, including on budgeting and prioritising debts, here are some additional organisations that can help.