What happens if I might struggle to repay my loan?
We understand that unexpected stuff happens in life - that's why we offer cash on demand! But we normally require full repayment on the date you originally pick. So if there's a major change in your circumstances you must be up front with us. If you warn us about a potential problem at least one business day before the promised repayment date, we may agree to an extension. Your request must be received and processed in time and will only be approved at our discretion - if we feel it's genuinely in your best interests. So until you receive confirmation that an extension request has been approved, you must always assume we'll try to collect your repayment on the original date promised.
If approved, a £10 administration fee will apply to your account. And, unlike some less scrupulous lenders, we also require a 20% part-payment of the current balance at the point of approval. This helps rebuild our faith in you and also reduces the outstanding balance on which you'll continue to accrue interest during the extension. So please only request an extension if you're happy with these terms and have the cash available to make a part-payment.
