If You Can’t Repay A Loan

If you can’t repay a loan

Sometimes, we can get into trouble with money. We miss a payment or we struggle to make repayments. It can get even harder when this leads into even more trouble. Before long your heads in a spin and you don’t know which way is up. We are here to help navigate you through your finances and point you in the right direction.

If you can't repay a loan guide image

Here’s why you should never ignore the problem

You may be charged a fee, plus interest. Miss loan payments and your lender could charge you penalty fees, as well as interest on the missed payments. This can also affect your credit score.

Don’t forget, you will need to pay the owed money back – it doesn’t go away. Act now and talk to your lender – it’s in their interest to listen and help you.

Any missed payments will be reported to credit agencies. As soon as you start to miss your loan repayments, your lender will mark this on your credit file.

Collection agencies may get involved. The longer you leave a loan unpaid, the more likely it is that your lender can pass your debt to a collection agency. And if you fail to respond to a collection agency with your lender’s requests, your lender can take you to court.

Your property could be repossessed. If you’ve taken out a loan that’s secured against your home or car, these properties can be legally repossessed (taken away) to cover the debt you owe your lender.

What is bankruptcy? Bankruptcy is a declaration that states an individual is no longer able pay off their debts. To find out more about bankruptcy, visit Citizens Advice.

Here’s how you can help yourself

If you’re struggling with debt, talk to the experts.

There are a number of charities that can help you with free, impartial financial advice to move forward and take control of your money problems. Talk to Citizens Advice and the Money Advice Service for more information.

Read more

About debt consolidation loans

About your credit score

About loans online

Baffle-free guides to borrowing


Loans guides

Loans can be super confusing, but never fear – our set of loan guides will help you beat the Baffles.

Learn more about loans

Managing money guides

It’s not always easy to know how to handle your finances. Our set of money management guides can help you out.

Learn more about managing money

Credit score guides

Understanding your credit score isn’t always straightforward. But our guides will help put you on the right path.

Learn more about credit scores

Read what our customers say

We're proud to earn a super-positive score from Trustpilot, the leading collector of honest reviews from real customers.



Ready to see your finance options with no impact on your credit score?

Check Eligibility