If your company has had an agreed payment holiday or a short pause on a Credicorp facility, payments will resume at the end of that period. Knowing what to expect makes the transition back to normal smooth and avoids a missed collection.
What changes when payments restart
When the pause ends, collections begin again on the agreed dates. Because the balance did not reduce during the pause and interest was treated in line with your agreement, your resumed payments, your remaining term, or the overall total may differ slightly from your original plan. We will have set this out when the pause was agreed, and the up-to-date schedule is available in your account.
Things to check
- Confirm the date your first resumed payment is due.
- Make sure your Direct Debit is active so the collection succeeds.
- Review the revised schedule in your online account.
If you are still not ready
If the gap turned out to be longer or deeper than expected, contact us before payments resume rather than letting a collection fail. We can discuss whether further support, such as forbearance, is appropriate for your company.
Facilities are available only to UK limited companies and LLPs for business purposes and fall outside the FCA consumer-credit regime.
See also: Can my company request a payment holiday?, Can I pause payments if my company hits a cash-flow gap? and What actually happens if my company misses a Credicorp repayment?.