Being in arrears means you’ve missed one or more scheduled repayments on your loan. It’s important to contact us as soon as possible so we can support you in finding a solution.
You can check your loan agreement which is emailed to you once your Loan is approved, you will receive this file via PDF so we suggest to save that on your device. If a payment is missed, we’ll usually get in touch to remind you and discuss next steps.
We understand that life happens. If you miss a payment, we’ll try to contact you to offer support and discuss your options. Ignoring arrears can lead to further financial difficulty, so it’s best to talk to us early.
Let us know straight away. We may be able to offer a temporary repayment break, a reduced payment plan, or other support based on your situation. We’re here to help, not judge.
You can call or email our friendly member services team in confidence. We’ll listen, understand your circumstances, and work with you to find a manageable way forward.
Yes – depending on your circumstances, we can look at restructuring your loan or agreeing on a temporary plan. The sooner we speak, the more options we’ll have to help you.
Make sure your repayments are affordable before taking out a loan, and contact us early if anything changes. Budgeting tools, savings accounts, and financial guidance can all help you stay on track.
In many cases, yes. If your income or benefit schedule has changed, let us know – we’ll do our best to align your repayment dates and amounts with your new situation.
IVAs are a legally binding form of debt management that work by freezing your debt for a fixed period, usually 5-6 years. During that time you must commit to paying a monthly amount towards your debt. After the fixed period, any money you still owe will be cancelled but only if you have made all your agreed payments and not been in breach of your agreement.
Simple answer is ‘no’.
If you have entered into an individual voluntary arrangement (IVA) then you are restricted to borrowing no more than £500 without obtaining permission from your insolvency practitioner.
When we consider affordability, we will look at other debts, repayments. You are very welcome to join us and save regularly, just a small amount every week or month soon build up into a useful fund for when you need it.
Citizens Advice has an article that explains the things to think about when considering an IVA
Yes, please let us know. It’s better for us to understand your situation early so we can support you and respond appropriately.
If you fall behind on repayments, we’ll contact you by phone, text, or email to understand what’s happened. We’ll always try to agree a solution with you first before taking further steps. Communication is key.
Falling into arrears can affect future loan decisions. We may decline future applications or require a period of on-time payments before considering another loan. But we always assess each case individually.
Yes, we encourage saving even in small amounts. Saving while repaying can help you avoid future borrowing and build financial resilience. However, some restrictions may apply depending on the terms of your loan or IVA.
