Quick Facts

• Capfin does not offer traditional “skip payment” options
• You can request alternative payment arrangements
• Contact Collections Department at 087 285 1234
• Best to call at least one week before payment is due
• Missing payments damages your credit record

What is a Capfin Skip Payment?

Many people search for “Capfin skip payment” when they cannot afford their monthly instalment. They want to skip one payment without consequences.

A skip payment means you do not pay this month. You start paying again next month. The skipped payment gets added to the end of your loan.

Some banks and lenders offer this option. It helps customers who face temporary money problems. They can catch up later.

But Capfin handles payment problems differently. Read on to understand your actual options.

🚨 Important Truth About Capfin

Capfin does not offer traditional skip payment options.

You cannot simply skip one month and continue next month. The system does not work that way.

If you miss a payment without contacting them first, you will face:

• Late payment fees (around R60.40 plus 2% interest)
• Damage to your credit record
• Possible legal action for debt recovery
• Collection calls and messages

However, Capfin does offer something else. They call it an “alternative payment arrangement.”

✅ Alternative Payment Arrangements

An alternative payment arrangement means you negotiate a new payment plan with Capfin. This is not automatic. You must contact them.

What it can include:

• Lower monthly payment for a short time
• Extended payment date within the same month
• Payment split into two smaller amounts
• Temporary reduction in instalment amount

Important notes:

• This is not guaranteed. Capfin must approve it.
• Your loan term may extend. You pay for more months.
• You will pay more interest overall.
• Your credit record may still be affected.

Think of it as renegotiating your agreement. It helps temporarily but costs more in the end.

How to Request an Alternative Payment Arrangement

Step 1: Contact Capfin Early

Do not wait until after you miss the payment. Contact them at least one week before your debit order date.

Step 2: Explain Your Situation

Be honest about why you cannot pay. Good reasons include:

• Temporary job loss or reduced hours
• Unexpected medical expenses
• Family emergency requiring money
• Other debt that must be paid first

Step 3: Propose a Realistic Plan

Do not just ask for help. Suggest a specific solution:

• “I can pay R500 instead of R800 this month”
• “I can pay on the 25th instead of the 15th”
• “I can pay half now and half in two weeks”

Step 4: Get Written Confirmation

If Capfin agrees to your arrangement, ask for:

• Written confirmation via email or SMS
• New payment date and amount in writing
• Reference number for the arrangement

Step 5: Stick to the New Agreement

You must honour the new arrangement. Missing it will make things worse. Capfin may not help you again.

Costs and Fees for Missing Payments

⚠️ Consequences of Missing Payments

Your Credit Record

Missing a payment gets reported to credit bureaus. This stays on your record for years. Future lenders see this.

It affects your ability to:

• Get approved for other loans
• Qualify for a bank account
• Rent a property (landlords check credit)
• Get approved for cell phone contracts
• Apply for store credit

Collection Actions

Capfin may take these steps:

1. Send SMS and email reminders
2. Make phone calls to discuss payment
3. Issue formal notice of default
4. Hand over to collections agency
5. Take legal action for debt recovery
6. Obtain court judgment against you

Full Amount Due

Capfin’s terms state they can demand the full remaining loan amount immediately if you miss payments. This means all remaining instalments become due at once.

✅ Better Alternatives to Consider

Option 1: Partial Payment

Pay what you can afford. Even R100 shows good faith. Contact Capfin to explain you are paying partial amount.

Option 2: Early Settlement

If you can access money elsewhere, settle the loan early. Call 087 354 0000 to request a settlement quote. Valid for 21 days.

Option 3: Debt Counselling

If you have multiple debts you cannot afford, consider registered debt counselling. They negotiate with all creditors for you.

Option 4: Family or Friends

Borrowing from family may save you fees and credit damage. Agree on clear repayment terms in writing.

Option 5: Sell Something

Consider selling items you no longer need. Facebook Marketplace and Gumtree work quickly for urgent cash needs.

🚨 Scam Warnings

Watch Out for Fake Debt Collectors

Scammers pretend to work for Capfin or debt collectors. They threaten arrest or immediate legal action. These are lies.

Verify Before You Pay

Always verify contact with Capfin directly:

• Call official number: 087 354 0000
• Check your online account at www.capfin.co.za
• Visit a PEP or Ackermans store
• Never pay into accounts not verified by Capfin

Loan Arrangement Scams

Scammers may offer to “negotiate” with Capfin on your behalf for an upfront fee. Capfin does not use third-party negotiators. Contact them directly yourself.

Report Scams: Contact SAFPS at 0860 101 248 or South African Police Service.

Your Consumer Rights

The National Credit Act protects you. You have rights even when struggling with payments.

Right to Fair Treatment

Capfin must treat you with respect. They cannot harass you. Collection calls must be during reasonable hours only.

Right to Information

You can request:

• Your current loan balance
• Breakdown of all charges and fees
• Settlement quote (amount to pay off early)
• Payment history and receipts

Right to Complain

If Capfin treats you unfairly or breaks regulations, you can complain to:

Right to Debt Review

If you are over-indebted, you can apply for debt review through a registered debt counsellor. This provides legal protection while you repay.

Essential Contact Information

• Set phone reminders three days before debit order date
• Keep Capfin’s Collections number saved in your phone
• Check your bank balance the day before payment
• If you see trouble coming, call immediately (don’t wait)
• Always get written confirmation of any arrangement
• Keep all SMS and email communication from Capfin

Capfin does not offer skip payment options like some other lenders. However, they do work with customers facing temporary payment problems.

The key is communication. Contact their Collections Department at 087 285 1234 at least one week before you miss a payment. Be honest about your situation and propose a realistic solution.

Remember that any arrangement will cost you more in the long run. Your loan extends and you pay more interest. Only use this option when you have no other choice.

If you are struggling with multiple debts, consider registered debt counselling instead. This provides legal protection and professional help negotiating with all creditors.

Most importantly: Never ignore payment problems. They only get worse. Taking action early protects your credit record and prevents legal action.