Difficulty repaying Buy Now Pay Later debts

Already using one or more Buy Now Pay Later services and struggling to meet your repayments?  Follow these steps

Get your Buy Now Pay Later debts under control with these steps

01

Work out what you can afford to pay

If you’re struggling to pay off existing Buy Now Pay Later purchases, work out what you can actually afford to pay by doing a budget. See more information about planning your budget.

If you can afford to pay something

  • Start paying the amount you can afford and get in touch with the Buy Now Pay Later lender(s) straight away to put a repayment arrangement in place.
  • Some Buy Now Pay Later lenders have a dedicated team you can contact for assistance if you are experiencing hardship and having difficulty repaying your debts. These contact details are usually found in the Help / financial difficulty & hardship menu.


If you can’t afford to pay anything

  • Call us on 1800 007 007 for advice from a free and confidential financial counsellor.

02

Ask for a repayment arrangement

Ask the Buy Now Pay Later lender for a suitable repayment arrangement (based on what you can afford) and have this confirmed in writing. Don’t agree to make repayments you can’t afford!

Consider changing your repayment schedule(s) with your Buy Now Pay Later lender(s) so that it’s easier to track how much is due and can time the repayments for when you have the funds available.

See negotiating payment terms.

03

Deactivate access and reduce account limits

De-activate extra accounts or reduce your account limits, as you work to pay off the balance(s) you owe. You can also contact the Buy Now Pay Later lender and ask for a block to be placed on your account, to prevent you from making further purchases.

If you want to continue using Buy Now Pay Later, make sure that you only have one account at a time. Using multiple accounts can make things very confusing as payments can easily be forgotten.

Remember to close your account once you have repaid the debt.

04

If the Buy Now Pay Later lender will not agree to an affordable repayment arrangement

  • You can stop the instalments to ensure you can afford a high priority payment like rent. To stop the instalments, see how to cancel a direct debit. If you need help to stop the instalments call us.
  • Most Buy Now Pay Later lenders are voluntary members of the Australian Financial Complaints Authority, which is a free and independent dispute resolution body. Check if your Buy Now Pay Later lender is a member.
  • If you can’t agree to a payment arrangement that you think is affordable you can lodge a dispute in the Australian Financial Complaints Authority if your Buy Now Pay Later lender is a member.
  • The Australian Financial Complaints Authority will give you an opportunity to explain how, by working with your Buy Now Pay Later lender, you can get back on track with payments. Refer to Dispute Resolution (Step 2).
  • If your Buy Now Pay Later lender is not a member of the Australian Financial Complaints Authority then progress to step 5 (next).

05

Speak to one of our financial counsellors

If your problem still hasn’t been solved, or you’re feeling overwhelmed, call us on 1800 007 007 to speak with one of our financial counsellors.

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