Back in the good old days banks worked on relationships and trust. If you wanted a loan your local bank would often simply ask for someone who trusted you to guarantee it. Then things changed, computer credit scores took over and millions of people were left out in the cold because their score didn't fit. We knew what it was like to be rejected so we built the old fashioned loan company we wanted to borrow from.
We don't just let computers decide if you can borrow. The most important thing for us is that you have a friend or family member who trusts you enough to guarantee to make repayments if you don't, and that you can afford to repay the loan. Before we pay out any loan we have a good old fashioned chat over the phone with both you and your guarantor. We base our decisions on simple common sense.
Our flexible guarantor loans are around 100th of the APR of a payday loan and are regularly featured by price comparison sites as the cheapest option for anyone borrowing £500-£5000 with a low credit score.
Everyone wants to be in control of their loan. We give you real-time statements and 24/7 access to your account online. Interest is calculated daily so you only pay for the time you have the loan. If you pay even £1 off early, you stop paying interest on that money immediately.
We've thought of as many ways as possible for you to make repayments. Regular payments are made by Direct Debit, but you can also pay by card, online, over the phone 24/7 or in cash at any one of 22,000 PayPoint locations.
When times get tough the last thing you need is someone making money from your problems. We NEVER charge for late payments, letters, early settlement or anything else.
We collect late payments in the same way as any high street lender would. If a loan falls into arrears we will text you a reminder, if we're not able to collect a payment we will phone and email you to see what's gone wrong. Our priority is to stop a late payment snowballing into a bigger problem. Obviously, because our loans are supported by a guarantor, if a borrower doesn't repay then the guarantor has to. In a few very rare cases, where we can't come to an arrangement for repayment with either borrower or guarantor, as a last resort we will either pass a debt onto a professional debt collector or ask a court to decide the best way to deal with it. Whatever happens we will NEVER put your home or other property at risk. We've made 10 promises on how we'll deal with arrears.
We want to help make your financial future better; so we report back to all three credit reference agencies, each month, showing your repayments. As payments are made on time this will help to build or rebuild your credit profile. No information is reported back to credit reference agencies for guarantors, even if payments are missed, unless the account goes to court.
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