What happens if I can’t make a payment on my due date?

What happens if I can’t make a payment on my due date?

We understand that financial circumstances can change suddenly, however, it is important to note that we do not reschedule repayment dates and you should only take a Carbon loan if you are reasonably certain you have the means to repay within the agreed period.

In addition, defaulting loans are reported to the national Credit Bureaus and this can severely affect your ability to access loans in future. We therefore advise you make every effort to meet your obligations on time.



    • Related Articles

    • How do I make a loan repayment?

      How do I make a loan repayment? We have made repaying your loan at Carbon as easy as possible.  On your due date, your payment will conveniently be deducted from your Carbon Account or the account linked to the debit/ATM card provided during your ...
    • Bill Payment

      If debited for a failed bill payment (Cable, Utility and so on) via your bank account (from the card registered on your profile) contact the card services unit of your bank 24 hours after, if no reversal was automatically done fill a dispense error ...
    • Can I make an early repayment? If I make an early repayment, will I pay less?

      ​ Can I make an early repayment? If I make an early repayment, will I pay less? Early repayments are accepted and you can apply for a new loan immediately after your previous loan is paid off. However, an early repayment will not impact the term of ...
    • Payment has exceeded requery timeout

      Description of problem This indicates that you might have taken too long to complete or abandoned the transaction and so it was terminated for your security. Solution(s) Please try to complete the transaction within 2-3 minutes. This means entering ...
    • How can I change my date of birth or rectify BVN date of birth mismatch on Carbon?

      You need to update the date of birth-related to your BVN then provide us with the printout of your BVN data page, stamped and signed showing (name, passport photo, date of birth, phone number, enrollment institution, enrollment branch and NIN) and a ...