Debt repayment options if you're struggling
Missed a Credit Card or loan payment? Explore flexible repayment options to manage arrears and reduce instalments.
Missed a Credit Card or loan payment? Explore flexible repayment options to manage arrears and reduce instalments.
If you’ve missed payments, you can restructure your credit agreement by extending your repayment term. This spreads your arrears over a longer period, helping you reduce immediate pressure and bring your account up to date.
If you’re experiencing short-term financial difficulty, you may qualify to temporarily reduce your monthly instalment for up to 4 months. Your credit account must be active for at least 4 months to qualify.
For longer-term relief, you can lower your monthly instalment by increasing your repayment period. This reduces your instalment amount but extends your loan term. Your credit agreement must be at least 4 months old to qualify.
You can settle your total arrears together with your current instalment in one repayment. This brings your account fully up to date and stops further arrears from building up.
If your arrears are manageable, you can repay them over 2 to 6 months in addition to your normal monthly instalment. This allows you to gradually restore your account status while keeping up with your regular repayments.
You can choose to make a reduced or minimum repayment for one month. Any unpaid amount stays outstanding, and your account may reflect arrears until you settle the balance in full.
You can make minimum repayments for up to 3 months during financial strain. Arrears and interest may continue to increase until you repay the outstanding balance in full.
If you've been retrenched or are on unpaid maternity leave, or are affected by a protected strike, you can apply for a temporary payment break. This gives you short-term relief while you stabilise your finances.
| Option | Ideal for | Duration |
|---|---|---|
| Restructure your arrears | Missed payments | Full-term |
| Temporarily reduce your repayment | Short-term relief | Up to 4 months |
| Payment break | Retrenchment | Case dependent |
| Catch up on arrears | Small arrears | 2 - 6 months |
If you miss a repayment on your Credit Card, Personal Loan or Access Facility, your account may go into arrears, and additional interest may apply until you bring the account up to date. You may qualify to restructure, reduce or temporarily pause your repayments Contact us as soon possible on the app, online or in-branch to discuss your options.
Yes. If you qualify, you may be able to reduce your monthly instalment by extending your repayment term. You can also apply for temporary relief for up to 4 months if you're going through short-term financial difficulty. Your credit account must be at least 4 months old before you can apply.
Restructuring or changing your repayment arrangement may show on your credit profile. The impact varies depending on your account status and repayment history. Keeping up with your new repayment terms is the best way to protect your credit score while you manage your account.
Your credit account must be at least 4 months old before you can apply to reduce or restructure your repayments. This applies whether you want to lower your instalment, extend your term or apply for short-term relief. Check your specific agreement for any additional conditions that may apply.