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Is it possible to postpone the repayment date?
Is it possible to postpone the repayment date?

What happens if I don't meet the loan due date?

Christina avatar
Written by Christina
Updated over a week ago

You can push back the date that we will debit you from the loan details using the Repayment date field (see details).

Attention: the contractual end date of the loan chosen during the request does not change. Taking out a loan is a commitment; it is important to do everything possible to respect the initial loan repayment date.

Consequences of non-payment

  • Interest continues to accrue

    • As there is a daily interest rate, each day of delay increases the amount of interest to be paid. It is therefore in your interest to repay on time or even in advance.

  • The Bank of France is notified

    • After 4 days of late payment, financial institutions are obliged to inform the Bank of France of companies' unpaid debts. All banks have access to this register of unpaid debts, and so a late payment of more than 4 days on a loan (from Defacto or a bank) may therefore affect your ability to borrow.

What does it mean to notify the Bank of France?

In France, financial institutions are obliged to report payment defaults by their business customers to the central bank of France (obligation from €1,524, strong recommendation below). We prefer to be transparent with our customers about this obligation.

For the sake of clarity, this is not a bank ban. The register of unpaid debts is not the register of businesses who have been banned from banking.

In particular, according to the information available to Defacto, there are no general consequences (such as in the case of the register of bank insolvency) arising from a declaration of non-payment by a financial institution in the Bank of France register.

However, financial establishments can access the register of such unpaid debts and take this information into account - or not - in their commercial policy.

In the case of Defacto, for example, information about repeated late payments of more than 4 days would be taken into account, negatively, in the analysis of the company's solvency.

  • Your account will be suspended

    • After 15 days of late payment, your borrowing capacity is temporarily suspended and you can no longer request financing until you repay the loan.

What if, despite my best efforts, I do not have the funds to repay the loan on the due date?

In practice, you can change the date of the Direct Debit payment directly from the loan details in the Repayment date field:

  • one time only per loan

  • up to a maximum of 30 days after the original due date

  • where the total duration of the loan does not exceed 120 days

Please note that if the request is made less than 3 working days before the original repayment date, we cannot change the date of the Direct Debit initiated by our banking partner.

🚨 Postponing the Direct Debit date will result in the loan being late and will impact your credit score.

To repay earlier, please read this article

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