If you are on a repayment plan that does not clear your current missed payments, this is what will happen:
How will the repayment plan affect my credit file?
We will tell the credit reference agencies that you are on a repayment plan for the whole time it is running. This can make it harder for you to get credit in the future.
What happens to my missed payments?
Your first payment after the plan ends will include the amount you still owe from your missed payments. Your account will keep showing missed payments until you have fully paid them off.
Will interest and charges continue during the plan?
No. We will stop all interest and charges while the plan is in place.
Can I keep using my card?
No. You cannot use your card while the plan is active.
What if I can’t afford the first payment after the plan?
If you think you will struggle to make that first payment, contact us as soon as possible so we can talk through other ways we may be able to help.