Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Responsible Lending

Implications of Non Payment

If you are unable to pay on time, each lender has their own policies in regards to fees and interest, and how they collect outstanding debts. Some lenders may pursue you by legal means in the event of repeated non-payment. Most will contact you by phone or letter in order to rearrange payment. Non-payment may result in charges and will affect your credit score. Please read the Terms and Conditions of your loan product in full before entering into a credit agreement.

Collection Practices

Continued non-payment may result in your debt being passed to a debt collection agency. This may result in further charges, which would add further charges. You should check with your lender on their collection practices.

Late Payment

Should you feel that you will be unable to make your agreed repayment on the specified date, it is essential that you contact your lender in advance. Lenders may issue a charge for late payments. The amount of the charge will vary by lender so please ensure that you read the Terms and Conditions of your loan product in full before entering into a credit agreement. Late repayments can also have a negative impact on your credit file.

Renewal Policy

If you wish to renew your loan, you should contact your lender in advance.

Please note: you must always think carefully before deciding if a loan is right for you and your circumstances. If you feel your financial commitments are becoming unmanageable and that you are struggling to keep up with your monthly repayments, the following organisations provide free, impartial and confidential support and advice. Contact:  Money Helper or Step Change