What happens if I miss a payment?

If you think you might miss an upcoming payment, contact us before the due date. We’d much rather work with you than charge a late fee.

Most lenders on the Instant Credit platform offer:

• One-time payment rescheduling — push a payment forward by up to 7 days, free, once per loan
• Payment plan adjustments — reduce the size of upcoming payments and extend the term

If a payment fails after the fact:

1. Day 0 (failed payment) — your bank charges an NSF fee; the lender charges a return fee per the loan agreement
2. Day 1–7 — we attempt to re-debit after you confirm sufficient funds; missed payment is reported to credit bureaus only if not cured within 30 days
3. Day 30+ — formal collections process begins per provincial regulations

We don’t use aggressive call-and-text harassment. All communications follow the Canadian Consumer Reporting Act and provincial collections rules. To talk through options, email support@instant.credit or use the chat widget.