Repayment & Collections
Collections Process. If at any point during the term of your loan you feel that you will have difficulty in repaying what you owe, you must contact the lender immediately. You will be able to discuss repayment options and avoid missing your repayment date completely.
Please be aware that this could incur further charges or interest as a result. Please also note that interest rates are capped at 0.8% per day and charges are also capped to a maximum of £15.
If you fail to notify the lender of your difficulties and miss your repayment date, your details could be forwarded onto debt recovery agencies to recover the debt. This action is not taken lightly and is always a last resort.
Implications Of Non Payment. Again, if you are struggling, or feel that you may struggle to meet your repayment date, you need to contact the lender immediately. If you do not do this and you fail to meet the the agreed repayment date, this could adversely effect your credit score and will harm your chances of obtaining credit in the future.
If you do miss your repayment date interest and charges may also
be applied. In this instance lenders will always try to contact you via telephone or letter in order to recover the funds or to arrange an alternative repayment solution.
Late Payment. Where you feel that you may have any difficulty in repaying your loan on the pre-arranged date, you will need to contact your lender immediately. You will be able to rearrange your repayment date to a more suitable time (this will result in a small charge being added on to the total amount due). The late payment fee will vary from £1 to £15, completely dependant upon the delay.
For more information regarding late payment and collection please feel free to read our terms and condition and also the terms and conditions that are provided along with your loan agreement.
* Instant Decision - Although we do provide an instant decision, they are not guaranteed and on occasion they can take up to a maximum of 3 minutes.
** Cash In Your Bank - Approval is not guaranteed and therefore you are not guaranteed to receive cash in your bank.
Our service is free of charge, however will receive commission from the lenders upon successful application.
Category: Payday loans