FAQs: Late Payment and Non-Payment

Short term loans, such as payday loans and installment loans, are intended to help you stretch your income and cover unexpected expenses. Because these loans are meant for short term financial relief, it's important to consider your budget and repayment terms carefully before you apply.

When applying for your next short term loan, please consider the implications of late payment or non-payment and make sure you will have the necessary funds to repay your loan.

What happens when I miss a payment on my payday loan?

If your payday loan payment is due and we're unable to withdraw funds from your checking account, the payment will be sent to collections. A returned check fee may be charged in some states; however, Check 'n Go will not collect any additional fees.

What happens when I miss a payment on my installment loan?

If an installment loan payment is due and we're unable to withdraw funds from your checking account, the payment will be sent to collections. A returned check fee may be charged in some states; however, Check 'n Go will not collect any additional fees.

After 30 days without a payment on your installment loan, your remaining balance will default, interest will stop accruing, and the entire balance will be sent to collections.