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Faq's
Get your answers
  • Do i have to pay a fee?
    We provide a variety of services by phone, Internet, mail and other means through a 30-day membership program (see 'The Benefits of Membership, under terms & conditions). In return for these services, you agree to pay a one-off charge of not more than £67.74.
  • How do you find me a loan?
    We have partnered with some of the most recognised and established lenders in the UK. We have more than 250 lenders on our panel. We have developed a unique platform that determines, in real time, the most appropriate credit option for a specific borrower profile (matching personal information, credit bureau data and lender’s criteria and scorecard).
    Even if you have bad credit, we may still accommodate you. Unlike traditional lenders, our lenders don’t just check your credit as your current situation may be lot better than what may have been reported to your credit agency couple of months ago.
  • How much I can borrow and what it’ll cost?
    We arrange any purpose loans and they can be up to £50,000, but the amount you can borrow depends on individual circumstances. These things help our lenders to decide what they’ll lend you and the amount of your loan repayments:
    We look at:
    • What you can afford
    • Its rented or your own house
    • Your current financial circumstances (income and outgoings)
    • Your financial affairs in the past (credit history)
    Our advisors will need to assess these things when you apply online, in order to decide what loan would be most suitable. That's why it may take upto 24-48 before you hear from our landers.
  • How soon money is paid out?
    It all depends on what kind of loan you apply, documentation and other checks however normally it all happens within 24-48 hours. If it’s a Payday loan it gets credited to your account in couple of hours from the time you applied.
  • What if my circumstances change?
    If a change in circumstances means you think you can't repay your loan amount, you must tell us straight away. We’ll do our best to help you manage the situation.
  • What is APR?
    APR stands for ‘Annual Percentage Rate’ and it’s used to as a way to allow people to compare the cost of different loans side by side. It shows the true cost of the money borrowed and reflects this as an annual rate – ie how much you’ll pay per calendar year. All lenders use the same formula to calculate APR and this makes it easy for customers to do a direct cost comparison between different lending products.
    The term APR has a legal significance. It is calculated using a complex formula that is prescribed by the Consumer Credit Act (1974).
    The APR calculation needs to include all the costs of borrowing, this includes:-
    • The interest rate
    • When interest is charged (daily, weekly, monthly or yearly)
    • Initial documentation fees or file charges (as some lenders charge a set-up fee when a loan is arranged)
    • Any other costs applicable to the loan (including fees a broker may have charged)
    An APR is important because it prevents lenders from hiding any additional costs and ensures you get a true cost of the borrowing when considering a product.
    For example:
Lender A offers a loan with an interest rate of 13.6% p.a. plus an arrangement fee of £200
Lender B offers a deal with a rate of 15.2% p.a. and arrangement fee of £50.
    Without an APR, it is very difficult to work out which of these two deals is cheaper. The first has a cheaper interest rate but high fees and the second a higher interest rate but a small arrangement fee.
    So the loan with the higher interest rate may be cheaper than the one with the lower rate because of the arrangement costs. The APR takes this into account so you know that you are comparing.
    Carefully borrow money and ask the lender if there are any other fees payable and in turn if they’re included in the APR calculation. Be sure not to get confused between APR and Interest rate. When you are quoted a figure over the phone, be sure to confirm if that’s APR or just the interest rate. The APR will always be higher.
    The APR will not include any non-standard costs, so any late payment fees are not taken into account. Ask lender about non-standard costs and reason yourself to see that you are comfortable with these. Similarly, any early settlement charges will not be included.
    When APR figures are quoted on promotional material, they will be accompanied by the term ‘representative APR’, this is because stating the APR is a legal requirement, and the rate stated must be that which is offered to at least fifty percent of the loan applicants that get approved for that loan, hence making it the representative rate offered.
  • What is credit report?
    To gather your credit history the credit reference agencies get information from several sources, including the electoral register, County Court judgments, bankruptcy orders and other lenders – to check if you are up to date on your loans and credits. Credit agencies will also collect information about house repossessions.
    You can access your personal credit report from credit reference agencies like Equifax, Experian and CallCredit. They have user-friendly websites that allow you to fetch your information online, quickly and easily.
    Credit agencies charge a fee for their services. A statutory credit report will cost you around £2; they offer other detailed reporting and services which may be higher. Simply contact the credit agencies to find out what information they hold on you by asking for your credit report. You can request your credit report by post or online and
    provide the following:
    • £2 non-refundable fee
    • Your name and address, including the postcode
    • Addresses that you have lived at during the past six years
    • If you apply by post it is advisable to send the request by recorded delivery.
    Contact addresses for the three main agencies in the UK are:
    Experian Consumer Help Service PO Box 8000 Nottingham NG1 5GX www.experian.com
    Equifax Consumer Advice Department Consumer Response Centre PO Box 3001 Glasgow G81 2DT www.equifax.co.uk
    Callcredit One Park Lane Leeds West Yorkshire LS3 1EP www.callcredit.co.uk
  • How do I get incorrect information removed from my credit file?
    The Data Protection Act 1998 gives you the right to have information on your credit file corrected or removed if it’s wrong (but not just because you don’t like it). The credit reference agencies will tell you how to do this.
  • What can you do to improve your credit score?
    There are several things you can do to improve your credit score and we’ve included some hints and tips below. These things are by no means guaranteed or a definitive list but should help your credit position.
    Don’t miss on your repayments
    Even the smallest missed payment on any credit account can cause your credit score to deteriorate.
    Don’t show you are credit hungry
    The more applications you make to different lenders, the more your credit score will be affected. It may make lenders think you are a riskier applicant.
    Don’t exceed your limit on any credit cards
    Also, if you can avoid going too close to the limit on your credit cards, this can also help.
    Ensure you are on the electoral roll at your current address
    Lenders will use electoral roll information to confirm your current address
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Making PayDay Loans
Representative APR: 1560.45%
Interest Rate: 0.5068% per day (Simple Interest), thats just over ½ a percent. Transmission Fee: £5.50
Extension Fee: £10.00 Late Payment Fee: £30.00
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