Loans
Customer Support

Managing your loan

For all your queries, from how to pay off your loan early, to changing your Direct Debit details, you’ll find the information you need right here.

Pay off your loan early

How do I arrange to repay my Loan early?

If you want to repay your loan early you can call or write to us at Customer Services.  We will then give you the settlement figure to repay your loan. We can also provide you with a written settlement quotation.

What does the Settlement Quotation tell me?

The settlement quotation will tell you; 

  • The amount you owe on your Loan
  • The total amount you will have to repay to  settle your loans early (the "settlement figure")
  • The date you  should pay the settlement figure by (the "settlement date")
  • The reduction in the total amount of interest you would have paid if the loan had run its full course. 

What is the Settlement Date? 

When we give you a settlement figure we count forward 28 days to give you time to settle the loan. This is the last day you can repay your loan early for the settlement figure provided by us.

What if I cannot pay by the settlement date?

If you find you cannot pay by the settlement date you should contact us to work out a new settlement figure for you.

Are there any additional charges for settling my loan early?

There is no charge for repaying your loan early. When we calculate your settlement figure, we do so in accordance with the Consumer Credit (Early Settlement) Regulations 2004 in the UK. The practical effect of these regulations is we when we calculate your settlement figure it will include up to 58 days interest.

Where can I get advice on early settlement?

Your settlement figure will be calculated in accordance with the relevant Consumer Credit Act Regulations. General information about the operation of the Act and Regulations made under it are available from the Office of Fair Trading and advice may be obtained by contacting your local Trading Standards Department or nearest Citizens Advice Bureau.

Should I continue to make payments?  

Yes, please continue to make payments.  If this results in an overpayment, we will return this to you  no later than sixteen days after your loan has settled.

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