What Happens If Your Monthly Direct Debit Repayment Fails?
If your scheduled Direct Debit repayment is unsuccessful, don’t worry, here’s what will happen:
Automatic Reattempts
First, we will automatically reattempt your Direct Debit payment up to 3 more times.
You cannot make a one-off payment during this time to avoid double payment. You can wait for the automatic retries to take place.
The first reattempt will occur 4 working days after your due date.
Before each reattempt, we will send you reminders via email and SMS to keep you informed.
If All Reattempts Fail
If we’re unable to collect your payment after the 3 retries, you can make a payment manually in your account.
How to Make a Manual Payment
Log in to your Lendable account.
Go to the ‘Manage’ tab.
Select your preferred payment option and follow the prompts.
Please note that making your payment after your payment date may result in being reported as being in arrears to the Credit Reference Agencies.