No, at Creditspring we don't charge late fees if you miss a payment and we don’t charge any interest, so you’ll never pay more than the loan cost & membership fees. We're all about helping our members build better financial habits and a secure financial future, we trust our members to make responsible choices for their finances. We just ask that you let us know as soon as possible if you're having trouble making a payment, so we can work out a plan together.
To do this, please contact our customer service at least 5 business days before your scheduled payment date. We'll try to find a repayment plan that works for both of us.
But, here's the thing: If you miss paying your membership fee or loan instalment, we have to tell the Credit Reference Agencies. This can lower your credit score and severely damage your ability to access credit from other providers in the future. We're here to support you on your financial journey, so please reach out if you're having difficulties. It's important to keep your credit in good shape