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What happens if I don't repay?

If you fail to comply with the terms of your credit agreement and do not make your repayments when they are due we will try to contact you to understand the circumstances that prevented you from making your repayments and to help you repay your Polar Credit balance in a way that you can afford.

If your overdue balance remains unpaid and you do not engage with us to set up an alternative repayment arrangement we will have to place a default marker on your account which may remain on your credit file for over 5 years.

Continued failure to make your repayments will result in your account being referred to a debt collector and may lead to legal action being taken against you to recover the money owed.

You will also have to pay any reasonable fees we incur if we have to refer your account to a debt collector or start legal proceedings against you.

It is important that you get in touch with us as soon as you think you might struggle to repay, so that we can discuss the options that are available to you. Remember that you can make the minimum payment for your credit line in your online account at any time.