What happens if you don't pay PayLater?

Consequences of Failing to Repay PayLater

PayLater, a convenient payment option, offers users the ability to purchase goods and services now and pay later. However, failing to meet payment deadlines can have significant consequences.

Temporary Account Suspension

The primary consequence of missing a PayLater payment is the temporary suspension of your account. This suspension prevents you from making any further purchases using PayLater until your outstanding balance is settled. This measure is in place to safeguard users from excessive debt accumulation.

Reinstating Your Account

To reinstate your PayLater account, you must promptly repay the outstanding balance. Once this is done, your account will be reactivated, and you will be able to resume using PayLater. It is important to note that late payment fees may apply, so it is advisable to make payments on time to avoid additional charges.

Importance of Timely Payments

Failing to make timely PayLater payments can have a negative impact on your credit score. Missed payments are reported to credit bureaus, which can lower your credit rating. This can make it more difficult and expensive to obtain loans or credit cards in the future.

Seek Assistance if Needed

If you are struggling to make your PayLater payments, it is important to seek assistance promptly. Contact PayLater’s customer service team to discuss your options. They may be able to provide you with a payment plan or other assistance to help you get back on track.