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What Happens to a Loan Balance in Collections?


What to expect when consumers have a past due balance on a payday loan.


Have you ever gone past due on a payment because you either couldn’t pay it or just plain forgot to pay the bill? There are a few things that you could expect to happen if you find yourself in this situation.


First, it’s common that a late fee will be charged by the company for a late or past due payment. If you’re tight on cash, this could make an already high bill, higher, which is why it’s important to make payments on time. Second, you will start to receive phone calls, emails, texts or letters from the company requesting payment to bring your account up-to-date. Finally, if payment is not received then the company may start collection activity on your account, this collection activity could ultimately affect your credit score.

Do any of the things above feel familiar? Don’t worry, you’re not alone. There are ways to bring your payment history up-to-date. The first thing that you can do is the most obvious, make a full payment to bring your account back into good standing.

We understand that sometimes a full payment isn’t possible due to unforeseen circumstances, if this is the case then you can reach out to a Net Pay Advance advocate or go online to set up a payment plan to bring your account up-to-date with multiple, smaller payments with our payment plan solution.

Setting up a payment plan is easy. If your loan is past due, visit www.netpayadvance.com and sign into your account. Once logged in, a page with all payment options will automatically pop-up. View the payment plans to find the best solution for you. Select your preferred plan and sign contracts specifying your new payment due dates. Once completed, collection activity will stop if you’re making the agreed upon payments on their due date.

For those that have missed a payment but aren’t in a position to take a hit to your bank account with a full payment, this is also a great example of why having a valid debit card on file is advantageous for customers. You could pay off your current balance and re-loan the same day, so you have more time to pay back the full loan without risking collection activity.

Receiving continuous communications from a company requesting payment can be stressful, we understand. However, it is in your best interest to communicate with the company about your situation. Our advocates are trained to help you get your account back into good standing. Companies are more willing to work a customer if they are transparent about their situation from the beginning.


How Net Pay Advance Can Help.

If you know that you are not going to be able to make a full payment on your due date but will be able to a day or so later, please remember that Net Pay Advance offers due date extensions. You can extend your loan due date by going to www.netpayadvance.com, logging into your account, requesting a due date extension and signing updated contracts with the new due date information. This extension will move your due date by three days; however, keep in mind that this is not three business days, so this extension includes weekends and holidays.

For more information about settling your past due account or setting up a payment plan you can email customerservice@netpayadvance.com or call 888-942-3360 during business operation hours.

Wednesday, February 14, 2018
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  • I asked for my loan to be postponed to my monthly benefit payment date of the 4th Wednesday of the month, when I re-borrow a loan the same day; the 4th Wednesday is more than 30 days out which means that I need an extension of 7 days so going online to only be allowed 3 days, so it would be more accurate and customer friendly if online is allowed more than than those 3 days or you can just respond to the request on the reply when you send the email reminder of payment due date. This is what you''ve done since I''ve been a customer.
    2/20/2018 5:24:32 PM
    • We are sorry for your frustrations. Our extension policy is only for three days, but we are happy to speak with you if you reach out to customerservice@netpayadvance.com. Thank you for reaching out! 

      Net Pay Advance
      2/20/2018 5:27:01 PM
  • My loan is paid in full. Why am I receiving this email?
    2/20/2018 7:54:08 PM
    • This is just an informational blog article that was sent to all customers. :) 

      Net Pay Advance
      2/20/2018 7:58:37 PM
  • you guys are great .Thanks for everything what you do.
    2/20/2018 11:57:05 PM
    • You're welcome! Thank you for your kind words!

      Net Pay Advance
      2/21/2018 3:08:46 PM
  • Although I have never had this problem since I’ve been dealing with your company it’s good to know just in case this happens to me.Thank you for the information.
    2/21/2018 11:30:56 AM
    • We are glad that you found the information helpful should you ever need it!

      Net Pay Advance
      2/21/2018 3:09:18 PM