Yes, you will be charged more interest after missing a payment. This will be charged at the rate of the APR on your agreement on the outstanding balance on your loan account. You can repay the interest at any time but the longer the balance is outstanding the more interest you will pay. If your circumstances have changed and you find you are struggling to make your repayments you can access help online. To find out more about the options you have available to you see the Money worries section of our website. |