Additional interest and charges being added to your balance including a £10 missed payment fee if you fail to make at least your minimum monthly payment in full and on time each month. Late interest will be applied to your outstanding credit balance from the date your repayment was due until the date it is cleared in full. We will cease to add interest to any missed payment 90 days after the agreed repayment date.
Us having to report any missed payments to a credit reference agency. This may result in you finding credit more difficult and expensive to obtain in the future.
Us terminating the credit agreement. This means you will no longer be able to use Polar Credit and you will have to repay any outstanding balance under the credit agreement in a lump sum.
Your account being referred to a debt collector or legal action being brought against you to recover the money owed.
If you don’t think you will be able to make your repayment and you are worried about your financial circumstances, please contact us so that we can discuss your circumstances with you and help you make your repayments in a way that you can afford. If you need further help you can also speak to an independent debt advisor, such as StepChange (www.stepchange.org) or National Debt Line (www.nationaldebtline.co.uk).