What We Need From You

Here at paydayloansnet, we believe that financial responsibility is a two-way process. Whilst we aim to act responsibly in all our dealings with you at whatever stage, it is important that you understand the way we work and what you can expect from us. Of course, in order for us to act responsibly, we need you to also be responsible, honest and open with us. In this way, we can then deal with you in a manner that is best suited to your needs, requirements and circumstances. We will do this by carrying out our routine checks and safeguards, including a credit search carried out through a third party credit reference agency on every application (even if you are an existing customer – since we recognise that your circumstances can change). We want to really help our customers, and if we suspect that a payday loan will worsen your finances rather than help, the application will be declined, in line with the FCA’s regulations.

We trust you to be responsible and to make the best and most sensible decisions before entering into a loan agreement with us. We expect and trust you to enter such an agreement with us only on the basis that you are confident that you can meet your obligations under the agreement and repay any loan in full and on time.

Missed Payments Policy

We will inform you if you go into arrears and will send you a notice of the amount outstanding, and provide you with the required FCA information sheet to accompany this notice. We will also notify you if you incur a default sum (by way of a notice of default).

You will only pay additional charges in the event that you miss a payment or fail to make a payment in full in accordance with your agreement with us, and your account falls into arrears. These charges are set out in the pre-contract information we provide to you, the credit agreement, all relevant correspondence to you from us (normally sent by email) and our website’s charges page.

If you are experiencing financial difficulties, and are finding it hard to make repayments in full and/or on time, we will ensure that we do everything we can to help you, and we will act reasonably, fairly and responsibly in all our dealings with you.

It is very rare that we will allow interest only payments, and will always actively encourage you to pay off as much of the loan as possible each month. We will try to find an alternative way for you to settle your liability to us, such as freezing interest and paying by way of instalments, if and where appropriate. Prior to agreeing to vary the terms of the loan agreement we will always first carry out a further credit search, so as to satisfy ourselves that you will be able to afford any such variation.

Dealing with Misconduct

At paydayloansnet we will never pressure you to take out a loan, or to borrow more money then you had intended. In the event that a member of our staff is found to be behaving (or have behaved) inappropriately in their dealings with you, this may be deemed misconduct, serious misconduct or gross misconduct. Such misconduct will lead to disciplinary proceedings being instigated against (and potentially, disciplinary sanctions being imposed against) that member of staff.

Always Keep in Mind

Our responsible-short-term loans are designed to help clients through a temporary financial shortage and not as a long term borrowing solution. We are not always the cheapest option on the market, and we always encourage our clients to compare our costs with alternative options available to them.

We also recommend that you consider your financial situation carefully before making any decision to borrow money.

The repayments due under any loan agreement may place you under additional financial pressure, and we would urge you therefore not to apply for a loan if you feel that you may not be able to make your repayments in full and on time.