What are the default charges?

If you miss your repayment or only make part of your repayment on time, you may incur missed payment fees and other charges. We will try to contact you by email and text message to make you aware that you have missed your repayment.

Missed payment fees and charges include:

• interest at the rate of 60.23% pa (variable) on any unpaid credit amount from the day it way due until it is paid in full. We will cease to add interest to any missed payment 90 days after the agreed repayment date;
• a £10 missed payment fee;
• any reasonable fees we incur if we have to refer your account to a debt collector;
• any reasonable costs we incur if we have to start legal proceedings against you to recover the money owed.

The default charges may change in accordance with the terms of the credit agreement. We will give you at least 30 days’ advance notice of all changes, unless the change is to reduce any late fee (in which case we may make the change sooner). We will tell you about the change by giving you notice either in writing or electronically.

If you are worried you won’t be able to make your repayments, please contact us as soon as possible so that we can discuss your options with you.