After a missed loan payment

Establish what happened

Check whether the collection failed, an EFT is still being allocated, or the payment was not made. Keep your bank record and ask the lender for the current overdue amount and any charges.

Contact the provider

Explain the reason and what you can pay. Ask for any arrangement in writing, including dates, amounts and what happens to collections. Do not assume a conversation or a partial payment changes the agreement automatically.

Get help if the gap continues

Avoid taking another expensive loan solely to meet this instalment without checking the overall budget. A registered debt counsellor can discuss options. See preparing for a payment-difficulty conversation and complaints if a record or charge appears wrong.