Missed Payments
What happens if I miss a payday loan payment?
If you miss a payment, here’s what may happen:
- NSF (Non-Sufficient Funds) fees from your bank
- Late fees (where legally permitted)
- Impact on your ability to borrow again
- Possible referral to a licensed third-party collections agency
Contact us immediately at info@simplefinancial.ca if you can't make your payment.
Will missing a payment affect my credit?
Simple Financial does not report directly to credit bureaus.
However, if your account remains unpaid and is referred to collections, it may impact your credit score.
Can I set up a repayment plan if I fall behind?
Yes. We can offer a one-time repayment arrangement to help you catch up.
Contact info@simplefinancial.ca to discuss options.
Can I take out another loan if I missed a payment?
Yes—if you communicate and resolve the issue.
However, repeated missed payments without cooperation may impact your ability to borrow again.
We’re here to work with you. Just reach out.
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This help page and the information provided here are solely for informational and discussion purposes; they do not constitute recommendations or any other type of advice. These loans are intended for individuals who fully understand and are prepared to manage the associated financial responsibilities.