Worried about your repayments?
If you think you might miss a repayment, are already behind, or your repayment isn't affordable, tell StepEx now. Getting in touch doesn't affect your credit score, and the earlier you do it the more options there are.
Tell us what has changed
Log in to https://my.stepex.co and complete a financial distress application. Tell us what has happened and what you can afford. A member of the StepEx team will follow up once it's received. If you can't use the portal, for example because of a health condition or disability, write to us at the address at the foot of this page.
If your repayments depend on your income, submit a Circumstance Update between the 1st and the end of the 14th of the month so your repayment reflects what you earned. If your income has fallen below your threshold, no repayment is due for that month.
Things worth doing first
- Deal with priority bills first: rent or mortgage, council tax, energy, and anything that keeps a roof over your head. A StepEx repayment is not a priority debt.
- Work out a budget. MoneyHelper's budget planner is free.
- Get free, independent advice before agreeing to anything you're not sure about.
What StepEx can consider
Depending on your circumstances, StepEx may be able to agree a short payment holiday, reduced repayments for a period, or a plan to clear arrears. An arrangement is normally recorded on your credit file as an arrangement to pay, which can affect your ability to get credit, so weigh that against the alternative of missed payments, which do more harm. StepEx will explain the effect before you agree to anything.
Free and independent advice
None of these charges for advice.
- MoneyHelper — government-backed money and debt guidance
- StepChange — debt advice and debt management plans
- National Debtline — debt advice by phone and online
- Citizens Advice — advice on debt, benefits and housing
If you're working with a debt adviser or are in a formal arrangement such as an IVA, a debt relief order, bankruptcy or Breathing Space, ask them to contact StepEx and we'll deal with them directly.
What happens if you don't pay
An overdue repayment attracts the overdue payment fee set out in your agreement. StepEx sends the arrears notices the law requires, and arrears are reported to Experian, which can affect your credit record. If arrears continue, StepEx may issue a default notice; if that isn't paid by the date shown, a default is recorded and StepEx may end the agreement and take enforcement action to recover what's owed. Telling StepEx early is the way to avoid that.