Clearpay is committed to making sure you stick to your repayment plan, because we lose money every time we have to chase a missed payment or a late fee.
That’s why we consider every purchase application before we approve that purchase and assess whether you will be able to repay. And that’s why we are always sending you reminders when a payment is almost due.
If we approve a purchase and you still get into trouble, (which can happen to the best of us!), we will immediately contact you to see if we can help.
If you are facing hardship, we have hardship policy that allows us to work with you to get you back on track.
As soon as you miss a payment, we will immediately stop you from making any further purchases with Clearpay. This is because of our commitment to the high standards we set ourselves for responsible spending.
If payment is not made on the due date outlined on your payment schedule, a late fee of £6 is applied. If payment still hasn’t been made within 7 days, an additional late fee of £6 will be added.
To protect you, our late fees are capped, which means they'll never go higher than £24 or 25% of the order value, whichever is less.
This means we can stop people deliberately taking advantage of Clearpay, and stop you from going into further financial difficulty.
And this way you have an incentive to stick to your plan, so you never lose control of your money.