There is an error with my pay dates, what to do?

We run your pay dates against our database, as we hold the pay date frequencies of many companies. It is important we have accurate and error free data to make a lending decision. Make sure you double check that the pay dates you have entered match the 'Frequency of Wage' you have selected. Remember there is no need to adjust your pay dates for weekends or public holidays as we will account for these. If you have selected 'Specific Date' as your payment frequency, it is important that you review the day of the month as being the same in the next and following pay dates you enter.

As a responsible lender we want to ensure we have accurate data when it comes to your pay dates. The reason for this is so we can align the repayment of our loan with your cash flow cycle so as to ensure that we are not making any unreasonable calls on your finance. This is in all parties' interest, as it ensures that everything is happening as you would expect it to and that you are avoiding any late repayment charges that could be raised if you were to repay your balance later than the contractual repayment date stated in your contract.

Other benefits of paying on time

As is made clear throughout your customer journey we report to Credit Reference Agencies (CRAs). The way we interact with CRAs is governed by the Principles of Reciprocity. These principles were put together by SCOR. In essence if we use CRA data we must contribute to CRA data. This virtuous cycle ensures that the whole community of credit providers benefits. The more data providers the more accurate and up to date the credit report. This is not just accuracy in terms of data accuracy but more in terms of the breadth and scope i.e. is it more representative of the individual. As more credit providers see the benefit of the CRA data, they are encouraged to join and therefore provide more data further enhancing the usefulness of the report. Accurate lending decisions are in everyone's interest.

Therefore, going back to pay dates, if we can maximise the chance of a borrower having the means and ability to pay this should dovetail with the inclination and propensity to pay. It is important to stress that all this occurs in the context of affordability. Lending is not a zero-sum game with winners and losers. Customers are at the heart of the business and context by which operational decisions are made. We want to ensure that we are not only basing our lending decisions on the most up to date and accurate information but also as a responsible lender, we are providing accurate and up to date information to other lenders for the mutual benefit of the lending community and future borrowers alike.

Pay cycles

Once you have contacted us to update your next and following pay date we can corroborate this with our internal databases and using the data sources of third parties to verify the accuracy. We can then predict all following pay dates having determined the start point and the frequency. This allows us to schedule payments accurately. The third parties that we use to allow us to verify your pay dates can search a number of different sources such as job sites and other application data. You also have the ability to connect your bank account with us so that we can see your current account statements to view historical transactions. As part of our checks we may also contact your employer in a discreet fashion to verify not only your position, but if possible, your pay date. Whenever we call an employer we only ever disclose our name as '247' and that is only if we are asked.

Two-way trust

It's important to provide us with accurate information to enable us to make the best lending decisions, as that way our service works the way it has been designed to do. Contrary to long held views that lenders make money when a customer can't pay, anything that hampers the building of a long standing, mutually beneficial relationship, is completely at odds with our business model. In the same way as you would, quite rightly, expect us to honest, open and transparent we need to rely on that expectation when it comes to the information you provide us. We understand that data changes over time and therefore want to make it as easy as possible for you to contact us and change your information as and when you feel it's necessary.

Trust between borrower and lender is important

Examples of how we treat customers fairly:

  • Be honest
  • Be open
  • Be fair
  • Use plain English
  • Aim for excellent customer service

Control everything yourself

It is important to note that you can control all the features of your loan through your online account. Login to update your details, view your marketing preferences and loan terms. Your online account is available 24/7 and optimised to your device. We put a great deal of resources into making your experience of the best that it can be. We constantly strive to improve the way our service is delivered making information clear and transparent as part of our commitment to responsible lending. For more on how we achieve the best outcome for customers see our responsible lending principles. Remember we have answers to some of our most popular queries on our questions page.