If I get into difficulty repaying my loan, what can I do?

You should only consider applying for a loan if you can afford the payments. However, if you encounter financial difficulties that do not allow you to pay off the loan, you should first contact your lender, who will be in the position of offering you re-payment alternatives.

Nevertheless, fees or charges are likely to incur in the event of the payment scheme’s re-arrangement. It is also important to read the guarantor loan’s terms and conditions, as they contain all the information regarding the inability to re-pay and any subsequent implications.