If you’re unable to repay your loan due to financial difficulties or other personal circumstances, or you choose not to repay your loan, your loan will first fall into arrears, and then into default. If your loan falls into default, we’ll begin our legal process to retrieve your outstanding loan balance, which is enforceable in 150 countries.
We’ll begin our legal enforcement process through arbitration. However, if the amount in dispute is below a certain level, then proceedings will commence in court.
If you’re experiencing financial difficulties, or you’re unable to repay your loan, please let us know immediately by emailing payments@prodigyfinance.com and we’ll work with you to try to find a solution.
Do If I miss a payment this month, will it reflect on my US credit report immediately?
We do report missed payments to Experian, a credit bureau in the US. .
If this is the first time you've missed a payment, it won't automatically change your credit report. However, if you continue to fall behind on your payments, it will begin to negatively impact your credit rating in the US.