If you have any loan repayment questions or there have been changes in your circumstances that may affect repaying your loan, then see below in the first instance.
You have a right to withdraw from the loan agreement before the end of 14 days beginning with the day after the day on which the agreement is made. You can do this by notifying us orally or in writing by calling us on 020 7183 8078, by writing to us at 20-22 Wenlock Road, London N1 7GU or by emailing firstname.lastname@example.org. If you do withdraw from the agreement after we have transferred the loan to your bank account, you must repay without delay, and in any event no later than 30 days after telling us you would like to withdraw, the amount of the loan together with interest at the rate set out above from the day (which will continue to accrue until you repay us).
We will send letters, notices, statements and other communications under your loan agreement to you by post to the last address you gave to us for this purpose, by personal delivery or by email to the last email address you gave to us for this purpose. If your postal address or email address changes, you must tell us as soon as possible. By entering into your loan agreement, you agree to us sending letters, notices, statements and other communications relating to your loan agreement to you electronically by sending them as a free text email or as a PDF attached to an email to the last email address you gave to us for this purpose or as a free text SMS message to the last mobile telephone number you gave to us for this purpose. You should send all letters, notices and other written communications to us by post to the address set out at the top of your loan agreement.
We want to ensure that you can afford to repay our payday loans comfortably, so we take into account a number of factors when deciding if and how much to lend. It does not necessarily follow that successful repayment of a previous loan will increase the amount you can borrow in the future. Our customer service agents are not able to see information regarding lending decisions, including the loan amount offered.
You can repay your loan at any time by contacting us or logging into your online account. By signing your loan agreement, you authorise us to collect your outstanding balance using the card(s) we hold for you under a continuous payment authority (CPA) or by Direct Debit. Unlike a Direct Debit, a CPA is not covered by a bank guarantee. The way we use Direct Debit and CPA is fully explained to you during the application process and contained in your loan agreement. You can cancel both a Direct Debit and a CPA with your bank. You can cancel a CPA with your card issuer. You can also cancel both repayment methods directly with us. If you ask your bank or card issuer to stop permission for the payments you should also notify us. If you wish to cancel directly with us call 020 7183 8078 and we can talk with you about alternative ways of paying. If you cancel either a CPA or Direct Debit, you will still be responsible for paying the outstanding balance (inclusive of any interest, fees and charges accrued), including any charges which may accrue in the future. We require at least 3 working days' notice to cancel a Direct Debit instruction and at least 1 working days' notice to cancel a CPA. For more details please refer to the relevant section in your loan agreement.
If we are not in receipt of the full payment on the contractual repayment date:
If you need to speak to someone about your debts there are independent organisations that can help.
We appreciate that managing your debt is not easy, and some people turn to third parties to do this for them. Some firms such as www.nationaldebtline.org or www.stepchange.org do this for free and some firms charge a fee. It is worth bearing in mind that firms that charge a fee to administer a plan on your behalf reduce the available funds to pay your debts. An alternative solution could be to talk to your creditors directly and arrange a mutually agreeable payment plan with them. Give us a call on 020 7183 8078 - we can help you.
If you want to use a debt management firm, please ask them to send correspondence to email@example.com with the subject line 'Debt Management'. Corresponding by post can take longer. We may ask to see a breakdown of your income and expenditure as well as documentary evidence of your claims.
Yes, that's why it's very important to keep your side of the agreement to pay back the loan on the correct date. Other lenders use Credit Reference Agencies when they make lending decisions, so defaulting on your loan with us may make it harder or more expensive to obtain credit in the future.
Yes, we use reputable and professional third parties to collect any outstanding debts that are owed to us. However, this is very much a last resort when we haven't been able to agree a repayment plan. If an account is passed over to a third party, this is recorded on your credit report.
Things can go wrong. We know life can sometimes be complicated and that unexpected things can happen. If this is the case, you must let us know as soon as possible and we will do our best to help. We are a friendly bunch, so don't be apprehensive about calling. Call 020 7183 8078 to speak to us.