What happens if I don't repay CheckMate on time?

Physical CheckMate locations: They will follow the repayment terms stated in your signed contract – typically including daily or monthly overdue interest.

The Standard Payday Loan Default Sequence:

Day 1 (Due Date): 
- Payment not received
- Late fee applied (typically $15-$30 OR 5-10% of loan amount)

Day 2-15:
- Daily interest accrues at the contract rate
- Automated phone calls begin (3-5 calls per day)
- Text message reminders sent

Day 16-30:
- Account considered "delinquent"
- Late fees continue to accumulate
- Collection calls escalate in frequency and intensity
- Lender may attempt to withdraw from your bank account (ACH)

Day 31-60:
- Account sent to internal collections department
- Threat of legal action (may be real or bluff)
- Negative reporting to credit bureaus begins

Day 60-90:
- Debt may be sold to third-party collection agency
- Original debt + fees + interest may be 2-3x original loan amount
- Potential wage garnishment (if lender obtains court order)

Your Protection: If you realize you cannot repay, contact the lender BEFORE the due date. Many states require lenders to offer a "free repayment plan" or "extended payment plan" without additional fees. You have the right to request this.