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You will normally make your monthly repayments by direct debit on the same day every month.
You must have sufficient cleared funds in your bank account on the due date, otherwise your bank may well default your payment. Always take great care to avoid defaulting because loan companies don't appreciate customers missing payments and if your loan is secured and you find you can't keep up over an extended period, your home could be at risk of repossession.
At the beginning of the agreement you will be given a monthly repayment date. However, if this is not convenient because of the dates money is paid into your account, you will be given the opportunity of changing that date.
We suggest that you set your repayment date for a few days after you normally get paid. That way you will always have the money in your bank account to meet the repayment.
If you change jobs and you get paid at a different time of the month, contact your lender and they will normally be pleased to rearrange the repayment date.
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