An instalment plan can help you to clear your balance faster and would cost less when compared to
making contractual minimum payments. If you are offered a 0% instalment plan, you can spread the
cost by paying a fixed monthly amount with no interest.
Payments
You will need to pay at least your contractual minimum payment and your monthly instalment payment
each month otherwise your instalment plan will be cancelled. We will confirm this amount on your
monthly statement. Payments towards your instalment plan are optional, and you will not go into
arrears if you chose to only pay your contractual minimum payment, however, your plan will be
cancelled.
Cancellation
You can cancel your instalment plan at any time. There is no cancellation fee. If you cancel
your instalment plan, the remaining balance on your instalment plan will be moved to your
standard purchase balance to be charged at your standard purchase rate.
Direct Debits
If you have a Direct Debit, the amount NewDay collect will always include your monthly instalment
payment.
