Settling your facility early clears the whole balance in one go, so the natural question is what happens to the collections that were still to come. The answer is simple: once the settlement figure is paid, the remaining scheduled payments stop.
Remaining collections stop
When you pay a valid settlement figure in full, the account is closed and any future Direct Debit collections are cancelled — you will not be collected against a settled account. Make sure the settlement payment clears before the next scheduled collection date so the two do not cross; if a collection is already in progress it may still be taken, and any resulting overpayment refunded.
Cancelling the Direct Debit afterwards
We stop collecting once the account is settled, but you can also cancel the Direct Debit with your bank once you have confirmation the facility is closed, for tidiness. Do not cancel it before settlement is confirmed, in case a final collection is needed. See how early settlement works.
If a collection and settlement overlap
If a scheduled collection is taken just after you settle, you have effectively overpaid, and we refund the surplus to your business account — see getting a refund after settlement. To avoid it, time the settlement payment for a gap between collections, or tell us the date you intend to pay.
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: How early settlement works, Requesting a settlement figure, Getting a refund after settlement.