When you have financing with Mollie Capital, repayments are automatically collected as a percentage of your daily sales. If your sales decrease, you might not meet the agreed repayment deadline.
If your repayments become significantly overdue, our collections process may begin. The purpose of this process is to help you get back on track and find a suitable solution for your situation.
How the collections process works
The process begins with an email informing you that your repayments are at risk of falling behind. No action is required at this stage.
If the shortfall continues, the collections process will formally begin. You will receive an email with the following options:
- Repay the outstanding amount via bank transfer.
- Arrange a payment plan if immediate repayment is not possible.
If you are unable to make an immediate payment, please reply to the email with details of your situation. We will work with you to agree on a suitable payment arrangement.
If we do not receive a response, we will send you reminders. Continued non-response may result in your debt being transferred to an external collection agency, which can lead to additional costs for you.
What happens if I don’t respond?
Mollie or YouLend will attempt to contact you for up to 30 days.
If we’re unable to reach you during this period, or no repayment solution can be agreed upon, your financing may be considered in default and the recovery process may begin.
You may also receive reminder communications during this period.
What is the recovery process?
Before starting the recovery process, Mollie or YouLend will make reasonable efforts to find a solution that works for both parties.
If this is not possible and your financing enters default, the remaining unpaid balance may be transferred to a third-party debt collection agency.
If this happens:
- You will continue repaying the remaining balance, but through a different organisation
- Your original financing agreement and repayment obligations remain unchanged
- If you resume processing payments with Mollie, Capital repayments may continue to be deducted and forwarded to the third party until the balance is repaid in full
Please note that transferring a case to an external collection agency may result in additional costs for you.
What happens once you catch up on repayments?
Once all outstanding amounts have been repaid, we will confirm this by email. Any temporary payment arrangement will end, and repayments will return to the standard automatic process that is based on daily sales.