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Repaying your loan can become stressful. That’s why we have Martyn, our Payments Manager, around to help and support you to stay on your payment plan and get back on track with no penalty, so that you can borrow from us again when you need us.
With the introduction of our Good Payers Club for customers we see 6 months of good repayments from, we thought it would be a good idea to ask Martyn for his top tips for repaying your loan.
- Overpay
Save on interest when you pay your loan off earlier! An added bonus is that you can then miss a payment without going into arrears. With Christmas coming, some of our customers are already asking to overpay to miss payments when they know money is going to be tight.
- Talk to us
If you can’t make a payment then tell us about it and arrange when you will be paying it, that way your record will not be affected.
- Set up your payment to suit your budget
If you are not sure you can afford the payment every week, then put the loan over a little bit longer to bring down the required repayment amounts.You can always set the amount you actually pay at a higher level, but that way you can drop your payments down if you are struggling.
- Change of circumstance?
Let us know! We will try to sort out a better payment plan or help you get support. We work with many helpful organisations and trusts, and there is a lot of help for our customers that are having a difficult time.
Read more in our Newsletter for more help and advice, including the chance to win a Hotpoint Energy Efficient Washing Machine for Christmas!
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