While December is often the most expensive month of the year, this past December has seen more people veer towards using BNPL methods like Klarna to afford Christmas. From year to year, more shoppers are turning to Klarna to help them deal with the cost of living, especially when it comes to items like clothing and tech.
But, what happens if you cannot afford to pay back your Klarna borrowings? We will detail some options for you here in this blog.
Snooze your repayment
Especially with many being paid earlier than usual in December, and having to stretch that paycheque until the end of January, the start of the year is financially straining.
If you bought presents for yourself or other people in the run-up to Christmas using Klarna, you will soon be met with notifications requiring you to pay off your credit. One way you can buy yourself some extra time is through ‘snoozing’ your repayment in the Klarna app which means you will be afforded 10 additional days to make your payment.
According to Klarna’s website, these extra 10 days will be interest and fee-free if Pay in 3 instalments or Pay in 30 days were selected to buy the products. To access this feature, go into the Klarna app, choose ‘Payment options’ and click the ‘Snooze’ button.
It’s very important to know that you can only snooze your repayment once per order, so if you require a longer period of time, contact Klarna as soon as you can via their live chat, phone or email.
Keep in touch with Klarna
Klarna understands that circumstances vary for different people all the time, so the worst thing you can do is not let them know that you are struggling to repay your fee. If your card is declined, Klarna will try and take the payment a few times after the initial payment date.
One of the best things to do in this situation is to contact Klarna directly and tell them that you are struggling to make the payment. This way, you are letting them know what’s going on, and therefore they can help you to directly come up with a solution.
Do not hide the fact that you need some extra help with repayments, as doing so could result in your information being sent to a debt collection agency after an unsuccessful payment. This is a last resort method for Klarna to collect the payment, and a route you do not want to end up taking
Stop making purchases whilst your Klarna payment is due
Though it may sound like an obvious point, spending more money whilst you are trying to pay off existing debts is a bad idea. Primarily, your overdue payment should be at the top of your priority list. Once that is sorted, you can then feel more assured that you do not have to deal with any outstanding Klarna debts.
Spending whilst you have an overdue payment is a slippery slope, and could easily land you in more debt trouble than is necessary.
Currently struggling with paying off your debts?
We know that many people will be dealing with the stresses of Klarna payments after the festive period and our expert team are on hand to help. Being aware of the available payment options are key when getting back on track with your finances.