Please find below answers to common questions that customers ask us.
About your statement:
Q. Does the statement show all of my transactions?
A. Due to recent reforms in the Consumer Credit Act 1974 we are required to produce statements from the 1st October 2008. Therefore your first statement will only contain all transactions from the 1st October 2008. Following your first statement you will receive regular statements on an annual basis. These will contain all transactions for a 12 month period.
Q. Why has my Closing Balance increased?
A. The following are most common reasons why your total balance may have increased:
Administration Charges - where charges have been made to cover administration costs, these will be added to the total balance outstanding.
Monthly repayments not received - if the full monthly repayments required are not received it will increase the balance.
Q. How often will I receive a loan statement?
A. You will receive a statement annually. It will be sent shortly after the anniversary date of your loan.
Q. What can I do if I require further clarification of my statement?
A. You can refer to our complete interactive guide to the statements and our contact details.
Payments:
Q. Can I change the way I repay my loan?
A. If you currently make your payments by standing order from your bank, we recommend you consider switching to Direct Debit. We are seeing more and more of our customers choose Direct Debit as their preferred method of payment.
The benefits of paying by Direct Debit
Please contact us to switch to Direct Debit.
Q. Can I make regular overpayments to repay my loan early?
A. Yes, you are able to repay the loan at any time, but please refer to your original agreement for the terms and conditions of repaying a loan early.
Q. What if I'm experiencing difficulties in paying my loan repayments?
A. If you have any difficulties making payments under your agreement please contact us if you have not already done so.
About the loan:
Q. Can I extend/shorten the term of my loan?
A. Although we can't extend the term of your loan, we usually find that customers who wish to do this also have other debts that are adding up. In these instances we may be able to offer a new loan to consolidate everything into one monthly payment and this can be spread over a longer term.
Q. Can I borrow more later on?
A. We are always happy to consider applications for further credit. Any application will be underwritten in the usual way.
Q. What does a fee/charge relate to?
A. There are two types of charges that may be incurred. An administration fee that relates to services provided and default charges that relate to non-payment of your account. Full details can be found on our Tariff of Charges.
Q. Is there a charge for an interim statement?
A. Yes. Please refer to our Tariff of Charges.
Q. Is there a charge for a copy of a previous statement?
A: Yes. Please refer to our Tariff of Charges.
Change of details:
Q. How do I inform you of a change of my personal details?
A. Please write in to our Customer Services Department with the details.
About your statement:
Q. Does the statement show all of my transactions?
A. Due to recent reforms in the Consumer Credit Act 1974 we are required to produce statements from the 1st October 2008. Therefore your first statement will only contain all transactions from the 1st October 2008. Following your first statement you will receive regular statements on an annual basis. These will contain all transactions for a 12 month period.
Q. Why has my Closing Balance increased?
A. The following are most common reasons why your total balance may have increased:
Administration Charges - where charges have been made to cover administration costs, these will be added to the total balance outstanding.
Monthly repayments not received - if the full monthly repayments required are not received it will increase the balance.
Q. How often will I receive a loan statement?
A. You will receive a statement annually. It will be sent shortly after the anniversary date of your loan.
Q. What can I do if I require further clarification of my statement?
A. You can refer to our complete interactive guide to the statements and our contact details.
Payments:
Q. Can I change the way I repay my loan?
A. If you currently make your payments by standing order from your bank, we recommend you consider switching to Direct Debit. We are seeing more and more of our customers choose Direct Debit as their preferred method of payment.
The benefits of paying by Direct Debit
• You can be sure that the correct amount of money is being collected
• If an error should occur you are guaranteed a refund from your bank
• It's easier for you than Standing Order as you won't need to amend payments through
• If an error should occur you are guaranteed a refund from your bank
• It's easier for you than Standing Order as you won't need to amend payments through
your bank should your payments change
Please contact us to switch to Direct Debit.
Q. Can I make regular overpayments to repay my loan early?
A. Yes, you are able to repay the loan at any time, but please refer to your original agreement for the terms and conditions of repaying a loan early.
Q. What if I'm experiencing difficulties in paying my loan repayments?
A. If you have any difficulties making payments under your agreement please contact us if you have not already done so.
About the loan:
Q. Can I extend/shorten the term of my loan?
A. Although we can't extend the term of your loan, we usually find that customers who wish to do this also have other debts that are adding up. In these instances we may be able to offer a new loan to consolidate everything into one monthly payment and this can be spread over a longer term.
Q. Can I borrow more later on?
A. We are always happy to consider applications for further credit. Any application will be underwritten in the usual way.
Q. What does a fee/charge relate to?
A. There are two types of charges that may be incurred. An administration fee that relates to services provided and default charges that relate to non-payment of your account. Full details can be found on our Tariff of Charges.
Q. Is there a charge for an interim statement?
A. Yes. Please refer to our Tariff of Charges.
Q. Is there a charge for a copy of a previous statement?
A: Yes. Please refer to our Tariff of Charges.
Change of details:
Q. How do I inform you of a change of my personal details?
A. Please write in to our Customer Services Department with the details.
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