If your circumstances change and you start falling behind on your financial liabilities payments it can be difficult to know what to do. It is important to know that while things can be difficult, you are not alone.
There are quick and easy things you can do and people you can talk with, to help you get your finances back on track.
Even one missed or late payment – particularly those in the last 12 months – can weaken your credit score. If you miss repayments, you may be charged a fee (undertakes to donate to charity) and it can be detrimental to your credit score, making it more difficult to obtain credit in the future.
If you miss repayments on a secured finance like Auto finance or Home finance, your car or property could be at risk of repossession.
We may be compelled to share with credit providers, information with regard to your overdue payments, in which case we shall not be liable in any manner whatsoever to you or any other person for any disclosure of information by us.
This is why it is important to act fast and get immediate help before falling further behind on repayments. Speak to your finance provider and agree a repayment solution
There may be certain points in the year where you come into extra funds. It could be that you just have some money left over at the end of the month. If this happens, and you are able to make overpayments without any charge or penalty, then you could use that spare money to repay your debt.
Timely payments are important for establishing and maintaining a good credit rating. If you are late in your payment, we will attempt to telephone you or visit you based on mutual consent. If we cannot reach you, we will leave a message at one of the telephone numbers provided by you. If there is a better way to reach you in this situation, please let us know.
If you are unable to keep your payments up to date, you should contact us as soon as possible as we may be able to help you. If you do not contact us and do not make any payments the following may happen:
In case you wish to contact us regarding the overdue payments or for any payment assistance on the distressed debt, you can contact our Service Desk @ ServiceDesk-Collections@adcb.com indicating your Customer Identification Number (CIF) with details of your query and one of our Credit Counselors will get in touch with you on the registered contact details.
In case there is any change in employment or contact details, we request you to visit any of our branches and update your latest address and telephone numbers to ensure your records with the bank stay updated.