If a payment on your Line of Credit doesn't go through, here's exactly what happens and how to get back on track.
When a payment fails:
We'll automatically retry the payment. You don't need to take any immediate action, but making sure your linked bank account has sufficient funds will help the retry succeed.
If retries don't succeed:
Your draw moves to Overdue status.
You can still log into your app and make a manual payment at any time.
We report account status to the credit bureaus monthly, so overdue status may be reflected on your credit report.
If your account remains past due:
An account that stays past due beyond 180 days may be charged off. A charge-off means the loan is written off as a loss and reported to the credit bureaus, which can impact your credit score.
If you're experiencing financial hardship:
Reach out — we might have options. Contact us and let us know what's going on. We can discuss payment rescheduling and other options based on your situation.