Payments & Charges - Frequently Asked Questions

  • Are there any extra charges?

    We do not charge any missed or late payment fees and will help you work out an individual payment plan if you have difficulty in keeping up with your repayments.


  • How much is it going to cost me?

    The only cost on top of your loan is the fixed interest, so you only pay back your loan amount plus the interest. This is the "Total amount payable" and varies depending on which loan you take out.

    To give you an idea:

    £200 loan repayable over 33 weeks at £10 per week, Rate of interest 102.4% p.a fixed; Representative 433.5% APR, Total amount payable is £330.


  • What is the APR of my loan?

    This depends on which loan you take out:

    • 20 week loan: representative 756.5% APR
    • 33 week loan: representative 433.5% APR
    • 52 week loan: representative 272.2% APR

    Your Agent can explain all the details of our loans when they visit.


  • When do I start paying back my loan?

    Your first repayment will be due 7 days after you have received your loan. Your repayments will then continue on a weekly basis.

    Your agent will update you on the details when they come to finalise your loan, they will also give you a payment book so you can keep track of your repayments.

    Try to ensure that your first repayment is on time to avoid going into arrears.


  • What if I miss a payment?

    You will not be charged but you should contact your agent to talk about how to avoid this in the future. If you miss payments frequently then your local branch manager will contact you to talk about your account history and work out a solution with you.


  • What if I am struggling to make repayments?

    The first thing to do is to talk to your agent, who can talk to your local branch managers about a solution. It may be possible to reduce your weekly repayments to make them more convenient for you; a branch manager or agent will discuss this with you.

    It is important that you talk to your agent as soon as you can.


  • Can I pay my loan off early?

    If you wish to increase the amount that you pay each week then you will be able to pay your loan off early.

    Equally, you can pay in one lump sum if you find yourself able to do so - discuss this with your agent if you feel that this is an option for you.

    If you repay your loan early, or if you make overpayments on your loan and make an early partial repayment you may qualify for an early settlement rebate.


  • Can I make my repayments using a credit card?

    We do not accept credit cards as a means of repayment, however we do accept most major debit cards excluding Electron and American Express.


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Representative Example:

£200 loan repayable over 33 weeks at £10 per week, Rate of interest 102.4% p.a fixed; Representative 433.5% APR, Total amount payable is £330.

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