What happens if I don’t pay my payday loan?

Not repaying your payday loan may have serious financial consequences, but the exact consequences will depend on your loan provider, the amount you owe, etc. If you are worried that you will not be able to make a repayment by the due date, we strongly recommend that you reach out to your lender before the due date to discuss your options.  

At Nimble, we do everything we can to ensure you can repay your loan. This includes rescheduling payments and offering a Financial Hardship application to applicants who have encountered long term and short term situations that will not allow them to repay their loan. 

We do our best to help in every situation. For us, it’s imperative that you let us know if you think you won't have sufficient funds in your bank account to cover your repayment, we ask you to contact us immediately by calling 133 156 (during business hours) to stop the direct debit. By taking the time to advise us ahead of the direct debit date, you may avoid the payment of dishonour fees.

We ask that you communicate with us as much as possible but if we get down the track and we can't come to a repayment arrangement with you, your account may be passed to an external collections partner. In the case that you miss a payment and you fail to rectify it after we give you the required notice, Nimble can also record it on your credit file. If we aren't able to collect the money, your account could be escalated to an external collections partner for recovery. Should this happen, it can have serious financial consequences. You risk your credit history receiving damage for a significant amount of time, depending on the type of negative recorded on your credit file.

In addition, should you continue to encounter problems with repayments, we may reduce the amount available to you on subsequent loans or make further loans unavailable. At Nimble, we’re always careful to lend amounts which will not lead to repayment difficulties or bad credit - but we ask you not to borrow from us if you think you might struggle to repay for any reason.

The information on this website is general in nature and does not take into account your objectives, financial situation or needs. Terms, conditions, fees and charges apply, and are subject to change. Applications are subject to Nimble’s credit approval criteria. Redraw not available.

Nimble members who have previously borrowed and repaid one or more loans in full may be eligible to apply for up to $10,000 in their Member Area.

For our Small Loans of $2,000 or less, an APR (Annual Percentage Rate) doesn't apply. These loans are fee-based only, and so they don't have an APR. The establishment fee is 20% of the amount borrowed and the monthly fee is 4% of the amount borrowed.

For our Personal Loans between $2,050 and $5,000, the Annual Percentage Rate (APR) is 47.6158% (Comparison rate 65.6597% p.a.) and there is a $400 Establishment Fee. For our Personal Loans between $5,050 and $10,000, the Annual Percentage Rate (APR) is 47.6158% (Comparison rate 47.6158%) and there is no Establishment Fee.

Warning about borrowing