What happens if I miss a payment?

Missing a payment on LemFi Credit can result in a negative impact on your credit score, as late payments are reported to credit reference agencies. While LemFi aims to be transparent with no late fees, persistent non-payment can lead to the suspension or closure of your account and potential debt collection actions. 
 

What this means

• Missed or late payments are reported, which can damage your credit history.
• LemFi may restrict access to the app and close your account if you fail to pay any outstanding amounts.
• Once an account is closed due to non-payment, you will no longer be able to use the service.
• You still owe the balance, and if not paid, further actions to recover the debt may be taken. 
   

What you should do

Make your payment as soon as possible and review your repayment method in the app. If available, set up automatic payments to help avoid missed repayments in future.
 

What to expect

• Your account may remain active, but missed payments can affect your repayment history

You may need to repay overdue payments before continuing to use your credit