NO CREDIT SCORING
Credit scoring sucks. If you pay your phone bill a day late, move house or get refused a credit card your credit score drops. We don't think that's fair, so we ignore your credit score and ask your friends what they think instead. If you have one good amigo who trusts you and will guarantee your loan, then so can we. We'll never credit score you, we promise.
NO CHARGES
Have you ever noticed your banks make money when things go wrong for you? We've been customers ourselves and we know that when times are tough the last thing you need is another charge to pay. That's why we don't charge for late payments, phone calls, letters or anything else.
INTEREST DONE RIGHT
Back in 1999 when we started our business, we took out a 3-year £2500 loan from the bank. We paid on time every month but a year later, when we wanted to pay off the loan, we were told we had to pay £3200. That's because the bank charged us interest up front. When we started lending we decided to do things right. We charge interest daily. Every month the amount you owe goes down, and if you decide to pay off extra, you stop paying interest on that money on that day.
IT'S ABOUT PAYING OFF YOUR LOAN
Do you ever get the feeling that your bank wants you to stay in debt? They make it easy to borrow and hard to repay. We've thought of as many ways as possible to pay. Direct Debit is great, but if things go wrong how about being able to pay by card online, or on the phone at 1am? Even better, how about using a barcode on your iPhone to put the change from your groceries towards your loan balance?