If you have a question, it’s almost certain that we’ve been asked it before, so please take a look at these handy little FAQs which will probably answer most of your questions
— Before you start —
You are welcome to apply if you:
- are aged between 18 and 70
- are living in the UK
- hold a UK bank account and debit card
- have a monthly net income of more than £700
- are self-employed or employed
You’ll be pleased to know that having a bad credit history does not automatically rule you out for a loan. At Personal Loans Now, we look at more than just your credit score when making loan decisions.
We’ll need to know your:
- mobile phone number
- email address
- home address
- employment history
- net monthly income
- bank details
We offer loans of £2,000 to £25,000 with fixed monthly payments upto 60 months (5 years).
We don’t, however, you can contact our affiliate website at https://www.cashfloat.co.uk/ if you require a short-term loan.
You tell us the amount of money that you would like to borrow and for how long. We’ll tell you the monthly figure to repay, the interest rate and the total amount owed.
APR is the Annual Percentage Rate. This determines the exact total figure of credit to you for one year, including charges and interest. It’s essential to look past ‘headline’ rates and find the lenders’ true APRs. This will enable you to compare different loans accurately.
Rates from 35.9% APR – 99.9% APR fixed. The rate you get is based on the information that you provide in your application.
Here. The Personal Loans Now Money Lending Team is available on 020 3946 6777 to guide you through our application process, to help you understand our lending decision, and, if you’re accepted, to provide on-going support for your loan.
Yes. As part of your loan application, we will request your credit report from Callcredit and/or Equifax.
Usually, the information we get from the application and credit bureau check is sufficient for us to make a loan decision. However, in some cases, we’ll require further information. If this is so, we’ll contact you.
Yes. We consider all applications individually and try to look at all circumstances reasonably.
We don’t take telephone applications. But, you can apply on our website. If you have any difficulties during the application process, you can call us between 9am and 5.30pm, Monday to Friday.
— Your loan application —
We look at whether you can repay the loan based on the information that you provide us with, for example, how well you’ve managed credit before, your financial profile, and what the credit reference agencies tell us. Accordingly, it’s in your best interest to fill out your application form as accurately as possible.
Take a look at our 7 tips for improving your credit score on our affiliate website https://www.cashfloat.co.uk/blog/money-borrowing/how-to-improve-your-credit-score/
Our response won’t be instant, but we aim to process everything on time and make a decision as soon as we can. To help us, please remember to fill out the entire application form and carefully read the documents that we email you.
Yes. We are interested in understanding why you might want credit, but you may use the money however you wish.
Certainly. Please call us on 020 3946 6777, and we’ll do our best to help.
We ask for your bank account details to know where to deposit your loan, and where to take your monthly payments by direct debit.
Re-verify your e-mail address on our website, and within a matter of seconds, a new password will be dispatched to you. If you’re still experiencing difficulties logging in, please call us on 020 3946 6777.
Please call us on 020 3946 6777.
Yes. We process applications and send funds from Sunday to Friday. But, if your application is processed and approved during the evening, you may not receive funds until the following day.
If your financial circumstances change, we invite you to re-apply again after 180 days.
After my application is approved, can I still change my mind?
Of course you can, and we make it easy for you if that’s what you decide. Even after you receive your loan approval, you will have 14 days to withdraw from your credit agreement. Just let us know – either by emailing us at email@example.com or by phoning us on 020 3946 6777.
Remember – you’ll need to return not just the money that you’ve borrowed but also any daily interest that has accrued.
If you have any further information that you think wasn’t taken into consideration at the time of your original loan application, please get in touch with us. We will then review this information and let you know about our new decision.
During banking hours, we aim to transfer the money to your bank account within two hours of your application being approved.
Before sending you your agreement, we’ll dispatch to you pre-contractual information along with an explanation sheet. This will provide you with some important information for you to consider regarding your loan before signing your loan agreement.
Of course you can! You can reduce the loan amount, as long as the loan has not yet been transferred to your account. Please contact us on 020 3946 6777 for additional information.
— Managing your loan —
We will set up a direct debit mandate on the bank account you gave us on your loan application. If we can’t debit your account using this method, then we’ll use your debit card to try to collect any missed payments. However, we will never use your card details to take a payment that you’ve missed more than three times, every time you fall into arrears. Furthermore, we will only ever use it if you are behind on one payment to take the whole of that missed payment.
You may contact us at any time during the agreement with us to cancel or update your direct debit authorisation or debit card details. If you do cancel either your debit card authorisation or direct debit, you will have to arrange an alternative form of payment that we are happy with.
You’ll be able to see your the changes on your account by logging into your account online.
Yes. You can make a partial or full repayment at any time. Call us on 020 3946 6777 to find out how much you still owe, and to discuss the amount that you wish to repay. When you contact us, we will give you an early settlement quotation or a partial early settlement quotation. This will be valid for 28 days.
When you take out a personal loan with us, we calculate the amount of interest payable over the term of your loan. (This is based on the APR of the loan and the amount you borrow from us). We add this interest to how much you borrow from us (to give us the total amount payable by you under the loan). Then we calculate what your monthly payments are based on this. If you wish to pay off all or part of your loan early, you are entitled to an interest rebate as you will pay some or all of the amounts payable under your loan agreement before are required to make the repayment. You will get a rebate of interest to take account of the fact that you are repaying some or all of the loan sooner. We follow the legal rules which set out how we must calculate the interest rebate. These rules are set out in the Consumer Credit (Early Settlement) Regulations.
To add to this, if you wish to repay some or all of your loan early if the loan was given for a period of 12 months, we are entitled to charge up to 28 days’ interest. Moreover, if it’s for a period of more than 12 months, we can charge you up to 58 days’ interest.
Don’t hesitate and please call us on 020 3946 6777 as soon as possible to see what we can do to help.
Everyone’s circumstances are different. Call us on 020 3946 6777 as soon as possible so we can discuss your situation with you.
Yes, you can. Log into the client site section of our website. You will be able to view recent payments and your current balance.
Please call us on 020 3946 6777.
You can log into your account through our website; you can click on “Forgotten your password”.
If your financial situation has changed, please call us on 020 3946 6777 so that we can work out a viable solution with you, that is best for you.
When you apply for the loan, you agree to a CPA. This means that when the time to pay comes, you don’t have to do a thing – the payment will go through automatically. You have the right to cancel the CPA at any time. If you do, please inform us, and be aware that you will still need to make the repayments as agreed. The best option is to pay via debit card, alternatively you can do a bank transfer. If neither of these options work for you, you can deposit the money in cash directly into our account at any bank branch.
You will get a yearly statement from us for the duration of your loan. You can view your recent payment history and current balance by logging into your account through our website. If you require more assistance, please do not hesitate to contact us on 020 3946 6777.
Your loan term is set right at the start of your agreement with us. You can decide to shorten the length of your loan by making additional payments. On the other hand, you can’t extend it beyond your original term. If you are having difficulties making your payments, please contact us on 020 3946 6777.
There are no hidden charges with Personal Loans Now.
Yes, certainly! It doesn’t make a difference whether you repaid your loan early or not, we will be happy to assess any application for further loans in line with our standard procedures.
— Other useful information regarding our loans —
No. However, we will happily process another loan application once your loan has been paid back in full. This second application will be subject to our regular application evaluation process.
Callcredit and Equifax are credit reference agencies that we use to carry out checks on an applicant’s credit history file.
Personal Loans Now is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 714479). You can confirm our FCA registration on the Financial Conduct Authority’s website www.fca.org.uk/register or by contacting the FCA on 0800 1116768.
Personal Loans Now is a trading name and appears on the register as Western Circle Limited.
Our trading hours are from 9am to 5:30pm, Monday to Friday. You can also log on to our website 24/7, to submit an application or check your account.
We recommend that you seek out an organisation that offers free advice, including:
- National Debtline– This is a free, confidential, and an independent phone helpline for people with debt problems. 0808 808 4000. (England, Scotland, and Wales only)
- Advice UK– This is a network of independent advice-providing organisations. 0300 7770107.
- Citizens Advice Bureau–This is a network of local offices offering free, independent and confidential advice. If you are living in England, Northern Ireland or Wales, click here. If you live in Scotland, click here.
- Step Change–This is a debt counselling charity. Call 0800 138 1111.
Yes! We are members of the CCTA which is a trade body for the consumer credit sector in the UK. As members, we subscribe to the CCTA’s code of practice which sets out the best practice in consumer lending. Find a copy of the Code here.
— Refunds —
- If over-payment was made by card we will, if requested, refund the full amount to the card you have used.
- If you have made a payment using a debit card associated with a UK bank account, the funds will be returned via ‘Faster Payments’ to your account.
- If you cancel your Direct Debit, we can invoke our Continuous Payment Authority (CPA) rights as stated in the loan agreement.
- If a payment is taken mistakenly via CPA, we will refund the payment in full to the card used or your bank account, as detailed above.
- All refunds will be processed within 5 working days of us being made aware of the issue.
- If you get a refund that you’re not entitled to, you must pay it back when we ask you to.
If you need any help urgently then please get in touch with us by calling 020 3946 6777* or email us at firstname.lastname@example.org (*020 3946 6777 is charged by your provider as a UK local number).
— About Our Loans —
Loans for between £2,000 to £25,000 available over a term of 3 to 60 months.
Rates are from 35.9%APR – 99.9% APR fixed.
Amount of credit: £10,000 for 24 months.
24 scheduled monthly payments of £578.37
APR: 39.7% (fixed) pa 39.7% (fixed).
Total interest: 3880.88
Total interest (%): 38.8%
Total amount payable: £13880.88
Representative 39.7% APR.
*Terms and conditions apply. Credit is subject to status, affordability and credit checks. If you don’t qualify for the product for which you apply, we may be able to offer you an alternative product with different terms.