If you have missed a loan or credit card payment
If you’ve missed a credit card or loan repayment your account is in ‘arrears’. That means we may charge you more interest, and we may have to report the missed payments to the Central Credit Register which may affect your credit history. It will cost more over the long term if your loan or credit card is in arrears. Here is what you should to as soon as possible
Pay back the missed payments as soon as you can
While you are in arrears your credit rating may be affected which means it may be more difficult for you to get a loan in the future.
Can't clear the arrears? Call us immediately
We might make the repayments more manageable for you or let you know what to do next.
Talk to us about your difficulty with payments now
Our people have helped thousands of customers to get their finances back on track. We’ll let you know what you can do next.
Talk to us, and we can explain clearly what is happening and what you can do next. Phone hours: 9:00 to 17:00 Monday to Friday and 9:00 to 13:00 Saturday.
How we can help you:
If you are unable to clear your missed payments, you should call us as soon as you can.
We’ll explain what you need to do next.
There may be changes we can make to your loan. If we lower the monthly payments, this usually increases the term of the loan.
You can discuss any changes to the loan with us.
It’s always better to discuss your debts with your lender, even if you can’t pay anything today.
You may be subject to additional fees & charges if you miss your loan payments or if you are in arrears. Click here for more information on fees & charges.
How we have helped other customers in your situation
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Killian’s story
Killian had a car loan, personal loans and credit cards. All the payments seemed manageable on their own, but when his job suddenly became part-time the payments were mounting up and suddenly became overwhelming. He was now missing payments on his credit card and his personal loans as he struggled to keep pace. After a few calls with Killian we worked out how to consolidate all the loans and arrears and agreed a repayment plan. It did mean that Killian had to reduce his spending, but it felt great to be back in control.
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Bill’s story
Bill had never missed payments before. Unfortunately his employer had to close his business. Bill was worried that if he missed a payment, his credit rating would be affected. Bill phoned us and we were able to adjust the payment terms for his loan. He also used our budgeting tool to help manage his finances. We also explained the options for the credit card repayments, which helped him to avoid charges. Learn more about fees and charges.
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