FAQs
Here are some of the more common questions that may arise.
How much can I borrow as a first time customer?
We like to start small and so our first time customer limit is often £200. What you can borrow will depend on your financial circumstances. We do our work so we can find and affordable limit for you.
What if I have a bad credit history?
We deal with each application on a case by case basis. We consider all credit ratings and are able to assess affordability by other means. If you do suffer from a bad credit history we will ask for 3 months’ current bank statements to assess your current financial situation. This can be done via your online banking. We can then make a decision as to whether or not a loan is affordable for you.
What is an Affordability Assessment?
The affordability assessment is a look into your current financial circumstances. This will be a review of your incomings and outgoings and will require additional documentation to support what you have told us. We do this to ensure that you only borrow an amount that is comfortable for you to pay back. We aim to find an affordable credit limit that stays within your means.
How do I repay my loan?
How often you pay back will be dependent on how regular you receive your income.
Our most popular repayment method is a Continuous Payment Authority (CPA) where we set up a recurring payment from your debit card.
If you’d prefer to speak to someone, you can call our friendly team and they will be happy to take a card payment over the phone with you each time your payment is due. We send out text reminders, just incase.
If you prefer a more personal approach, being a Doorstep Lender, we can assign you your own dedicated Agent who can visit you at your home on regular days and collect cash or take a card payment on your doorstep.
Can I repay my loan of earlier than agreed in the contract?
Yes of course you can! If you want to repay your own earlier than contractually agreed, simply contact a member of our team and they will provide you with a settlement figure. Depending on the amount of time the loan contract has been running for, you may be entitled to a rebate which would make the loan cheaper for you.
Will there be any additional charges if I miss a payment?
We make sure the loan is affordable to you but we know everyone experiences difficulties and so sometimes we need a breather, however it is important that you contact us at the earliest opportunity to discuss your situation. Communication is key for us.
We assure you that you will never be subject to any additional fees or charges when your circumstances mean you have to miss a payment. You will only ever pay back what was agreed when you first took out the loans with us.
Repaying your loan on time will improve your credit score with us for future loan agreements.
What if I change my mind and don't require the loan anymore?
If you change your mind within 14 days you can cancel/withdraw from the loan contract agreement. You will have to pay the original loan amount in full within this time frame. Beyond the 14 days, you will start to accrue interest and so the amount you repay will be more than the initial loan amount.
If the answer you’re looking for isn’t listed above, please do not hesitate to contact us and we’ll be happy to assist you further.