Why is the default charge being increased?

The increase in the default charge reflects the increase in the additional costs we incur when you miss a repayment. Those costs include: stationery, postage and telephony systems, staffing and maintaining our contact centre, so that we can provide advice and information to customers in relation to missed repayments and take payments by alternative methods.

Premium Credit continue to evaluate the cost to our business, of a customer defaulting on a repayment. The charge is purely to cover Premium Credit’s cost of recovery of the late repayment and we do not make a profit from this action.

 

Still have a question?

  • Due to the Coronavirus (COVID-19) pandemic we are experiencing exceptionally high call volumes into our call centre.  We are doing our very best to answer calls as quickly as possible and as you to bear with us whilst we do so.  Alternatively, you can contact us online by completing our contact form.  We will respond as soon as we can and thank you for your patience.

 

Please note:

We are only able to discuss information pertaining to your credit agreement.  For any queries relating directly to your insurance policy or other service, please contact your service provider directly. 

 

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