2 min read
What to do
Contact the lender as soon as you see trouble coming — not after a payment is missed. Explain the situation honestly and come with a realistic proposal. Options may include a short repayment holiday, a longer term to lower payments (restructuring), or a temporary reduced schedule. Take free debt advice alongside.
How Credicorp handles it
A missed payment is a signal to talk, not an automatic penalty spiral. Credicorp works with customers in genuine hardship — the aim is a workable path back, not to make a hard situation harder. Engaging early almost always leads to a better outcome for everyone. What you should never do is take another loan to cover the repayment; that usually deepens the problem.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Will one missed payment ruin everything?
No — especially if you flag it in advance. A single missed payment handled openly is very different from a pattern of silence. Lenders respond far better to a proactive call than to a default they discover themselves.
Should I borrow more to cover a repayment?
Almost never. Borrowing to service existing debt usually makes the position worse. Talk to the lender about restructuring and get free debt advice instead — those routes address the cause rather than delaying it.
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Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.