Lending is built around the idea that you will repay. Sometimes circumstances change and that becomes harder — a lost contract, a late-paying customer, a sudden cost. When that happens, the most important thing you can do is tell us early.
What we can do
- A payment freeze for a short, agreed period while you sort things out.
- A payment arrangement that spreads the missed amount across the rest of the loan, or extends the term.
- A hardship variation for longer-term changes — see our hardship article.
- Refinancing the existing loan into new terms that better fit your current cash flow.
What you can expect
We do not apply charges that are not in your agreement. We do not chase aggressively. We do not pass the loan to a third party for collection without first trying to agree something with you. If vulnerability is in the picture, the file is routed to our customer-care team and treated according to our vulnerability policy.
Free help
Independent advice for businesses is available from Business Debtline (businessdebtline.org, 0800 197 6026). You do not need our permission to speak to them.
Still need help with this?
If this article has not answered your question, you can send us a request using one of our online forms, visit the Support page, or email us at support@credicorp.co.uk.