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Missed a payment? Here’s what to do next

Find out your next steps if you missed a payment on one of your accounts.


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Missing a payment is likely to bring down your credit score and could affect your ability to borrow in the future, so it’s best to rectify the situation as soon as possible.

If you forgot to pay

Make the payment as soon as possible - it will still show up on your credit report but it should reflect better on you that you made the payment eventually.

It’s worth setting a reminder for future payments to avoid paying potential interest and penalty fees. Set the reminder a few days before the payment is due to give you plenty of time. Or you could set up a debit order so that paying is one less thing to worry about (this is only sensible if you’re confident you’ll have enough money in your account to make the payment. If not, you risk eating into your overdraft and being charged by the bank).

If you’re struggling to pay

Can’t afford to make your repayments? This is pretty common and you’re not alone. We’ve written a quick article that explains how to take back control of your finances - it’s never too late to start. Just watch out that your missed payments don’t spiral into debt that you can’t handle.

If there’s a chance you’ll miss another payment, we’d suggest talking to your lender before this happens. Whether you’re struggling with your repayments or just want a better rate, there’s no harm in asking them for advice. They might be able to put your on an affordable repayment plan, or offer you a better rate - especially if you're planning on moving several debts over to one lender. Don’t forget: if you don’t ask you won’t get.

If you’ve got unmanageable debt

The fact you’ve acknowledged your situation is a great start. The trick is to tackle your debts one by one without overwhelming yourself. Make yourself a drink and have a read of our guide to debt consolidation loans, which could make managing your debts easier.

Remember there’s always someone to talk to if you’re finding your debt too much to handle. We offer debt counselling services in our ClearScore offers.

Find out what debt consolidation loans you are eligible for on ClearScore.


Frankie takes the often confusing world of finance and makes it clear and simple, to help you get your money sorted.