The NextPay account allows you to make either a monthly payment of the minimum requirement (£5 or 5% of your order, whichever is greater), specified amounts, or the full balance of each statement. You must make a payment every month of at least the minimum monthly payment shown on your statement, by the due date shown on your statement.
If you do not repay the balance in full, by the date shown on your statement, you will be charged interest.
If you only pay the minimum monthly payment, it will take longer to repay the balance and you will pay more overall. Missing a payment could have severe consequences and make obtaining credit more difficult.
You can always pay more than the minimum payment up to the full balance of your account.
If for any reason you are unable to make your minimum payment, it is crucial that you contact us via email, or you can chat with us here. Failure to make minimum payments on your account each month will result in your account being suspended and arrears charges applied, as well as the possibility of your account being transferred to a Debt Collection Agency.
The details of your arrears will be registered on your Credit File, which can affect future lending.