Business cash flow varies, and there may be a month when your company can only pay part of the scheduled amount on a Credicorp Flex or Credicorp Slice facility. The most important step is to contact us before the payment date rather than letting it fail.
Why telling us early helps
When you let us know in advance, we can discuss the options available to your facility and agree a way forward. A planned partial payment is far easier to manage than a missed or failed collection, which can put the facility into arrears.
What a partial payment does
- It reduces the amount due but does not clear the full scheduled payment.
- The shortfall remains outstanding and may affect the standing of your facility.
- It is applied in the allocation order set out in your agreement.
If this is a wider difficulty
A one-off short month is different from ongoing pressure. If your company is facing a sustained problem, ask us about forbearance options so we can look at a more suitable arrangement rather than a series of partial payments.
Facilities are provided only to UK limited companies and LLPs for business purposes and sit outside the FCA consumer-credit regime.
See also: Can I change my monthly payment date?, Can I change the date my payment is taken?, Does an overpayment lower my payment or shorten my term?.