What happens if my payments bounce?
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CashPal TeamLast updated 27 November 2020
What happens if my payments bounce?
If you do not make a repayment, a dishonour fee is generally added to the balance of your loan. We encourage you to make repayments to your lender on time, before any further action is taken, and to thoroughly read the contract you agreed with your lender so you know exactly the costs and fees associated with the loan.
If you think you might not be able to make repayments on time because your circumstances suddenly changed, contact your lender as soon as possible to find out if you’re eligible to apply for financial hardship — do this early, before your lender is forced to act. Our lenders are understanding and will look to help you in the best way possible.
Costs, repayments and applying
Costs and repayments
The cost of your instant cash loan depends on the lender we match you with — most can be flexible with fees, at their discretion. Once approved, your lender helps set up a direct debit so repayments happen automatically on the agreed basis; you just need to ensure the correct amount is in your account in time. Any dishonour fees are outlined in your initial contract, so read it carefully to understand the charges that apply if a payment bounces.
How can I apply?
Our application process is 100% online. Submit your application, we run a quick assessment in minutes, then match you with a lender. If you like the offer, accept it — if not, there’s no obligation. Once accepted, your lender sends the funds straight to you.
Need a loan that fits your situation?
Apply online in minutes and get an outcome fast — it won’t impact your credit score.
- MJ
- KZ