Review Your Finances

Assess your current financial situation to understand why you missed the payment.

Identify any temporary or ongoing financial challenges that may be affecting your ability to make payments.

Contact us

If you foresee or experience difficulties making a payment, contact us immediately. You will understand your financial situation better than us. We may be able to offer you options such as a repayment plan or temporary forbearance to help you get back on track. Our member Solutions Team can be contacted on:

Telephone: 0330 004 0842

Email Please include your member number in the email subject so we can identify you.

Explain Your Situation

Be honest and open about your financial situation when communicating with us. We are willing to work with you if we understand the challenges you’re facing.

Make the Payment as Soon as Possible

If possible, make the missed payment as soon as you can to minimize the impact on your credit score and your relationship with us.

Negotiate Repayment Plan

If you’re facing ongoing financial difficulties, discuss the possibility of setting up a repayment plan with us.

This plan could involve spreading the missed payment over a few months to make it more manageable.

Maintain Payment Arrangements

Sticking to loan repayment arrangements is important for members.

Maintaining these agreements demonstrates financial responsibility and reliability, positively impacting your credit score and overall financial standing.

Seek Financial Assistance

If you’re facing financial hardship, consider seeking advice from relevant support services.

They can help you evaluate your overall financial health and suggest appropriate solutions.

Prioritise Future Payments

Ensure you prioritise future loan payments to avoid falling into a cycle of missed payments.

Create a budget that allocates funds for essential expenses, including loan repayments.

Protect Your Credit Score

If the missed payment is reported to credit bureaus, it could negatively impact your credit score.

Taking swift action to rectify the situation and communicating with us can help mitigate the impact on your credit.

Learn from the Experience

Use the missed payment as an opportunity to evaluate your financial habits and identify areas for improvement.

Take steps to build better financial management skills and create a more robust financial plan moving forward.

Remember, we understand that financial setbacks can happen, and we are willing to work with members to find suitable solutions.

The key is to act promptly, communicate openly, and make a genuine effort to fulfil your loan obligations.