Payments

Can I pay more frequently than my schedule?

Some directors find it easier to pay a little and often — matching money as it comes in — rather than holding it for a single scheduled collection. You can usually pay extra whenever you like, and there are two ways to think about it.

Extra voluntary payments any time

You can make additional payments by transfer whenever the company has spare cash, on top of the scheduled Direct Debit. These reduce the balance and, on an interest-bearing facility, the interest. See making a partial overpayment and can I pay extra towards my balance.

Changing the actual schedule frequency

If you want the scheduled collection itself to be more frequent — weekly instead of monthly, say — that is a change to the schedule we can sometimes make. See can I pay weekly instead of monthly and setting up a payment schedule.

Keep the scheduled collection funded

Remember voluntary extra payments do not replace the scheduled collection unless we agree that — so keep the collection account funded for the due date as normal. See does an overpayment change your next collection.

Credicorp lends to companies rather than to you personally, so this is business finance outside the consumer-credit regime. That does not change the practical steps below.

See also: Can I pay weekly instead of monthly?, Making a partial overpayment, Setting up a payment schedule.

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