A core pillar of our company policy is that we are transparent in our dealings with customers and especially when it comes to the issue of charges. Any and all charges that you could be liable for over the course of your loan are made clear when you are in the process of signing up. However, if you would like to be able to talk through our charges with us then our customer services staff are available all hours of the day to discuss them with you.
Firstly, it is important to point out that unlike certain other companies we never charge up front for a loan. That means there will never be any application fee or anything like it. The reason for this is that many of our customers come to us in a state of financial difficulty and would not be able to afford such a fee. It would be unfair to ask it from them in these circumstances and so, as a responsible loans broker, we do not charge for applications. Moreover, this helps differentiate us from the many scam artists that there are who will take the money for an “application fee” without providing a loan.
Like almost everyone in the loans industry, however, we are forced to charge fees for missed or late payments. It is only by doing this that we can continue to make short term credit available to people without any form of credit check or collateral. If we did not charge these fees then some customers might not bother to repay on time and a one month loan would not remain a one month loan for long. Crucially, however, we do not seem to make a large part of our income from these charges and we do not target customers on the basis of the fact that they may be unable to repay on time. These charges exist to enable us to continue to offer a service, not as a means of making more of a profit.
When you pay an installment late you will be charged a late payment fee plus an increased interest rate on the funds that are late until they are paid. However, there are occasions when we will voluntarily waive this fee, allowing the payment date to roll over until the next installment. This is generally something that we do when a customer warns us ahead of time that they are in temporary financial difficulty.
If, however, you are facing more serious difficulties and are unsure that you will be able to repay your loan at all then it is important that you contact us as soon as possible. The majority of our customers repay the loan on time but we understand that this may not always be possible. We have a clear company policy on dealing with those who are struggling to pay and are careful to try to act in the best interests of both parties. Our customer services representatives are available 24 hours a day to receive your communication.