Hot Topics

What if my loan application is not accepted?
Sometimes a lender may not wish to give you a loan. This may be for a number of reasons, however the lender is not obliged to tell you exactly why the loan been refused.
How do I contact the Credit Reference Agencies?
You can request your credit report online, by phone or online. It costs £2 for a copy of your statutory credit report. Here are the details for the three main credit reference agencies.
How can I improve my credit rating?
If you are having trouble getting credit, there are a number of measures you can take to safeguard your credit rating. Here we have listed some helpful hints here to keep you in credit:
Should I get Personal Loan Payment Protection Insurance?
When you apply for a loan, you will be asked at the initial stages if you want personal loan insurance to be included in the agreement
Can I take the payment protection off/on throughout my loan?
The answer to this question depends on what type of insurance you have.

What happens if I can't meet the loan repayments?

If you are having problems repaying the loan, you will need to talk to your lender straight away to discuss the problem.

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The situation could arise because you have changed jobs and your earnings have gone down, or your other outgoings simply not do allow you to make your repayments. If you are extremely unfortunate and have had an accident or have fallen sick, and you do not have short-term income protection insurance or a repayment protection policy attached to your loan, you will not be able to afford the repayments.

Most lenders will listen sympathetically and make an alternative, mutually beneficial arrangement. You have to make sure however that whatever arrangement you enter into that you keep to it - so first make sure you will be able to afford it before agreeing. They may be prepared to suspend loan repayments for a while or extend the term of the loan. Also check to see if you have a repayment protection policy included in your loan that might cover you in respect of the cause of your financial difficulties.

If you have a secured loan and you cannot in any circumstances fulfill the obligations of your repayment plan, the worst possible scenario is that you will have to sell your home to pay off the outstanding balance.


Risk Warning
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.
Think carefully before securing other debts to your home.