FAQs

 I have existing debt, can I still get a loan?

 

Yes you can, there are many loans providers who specialise in loans for those who have previous debt, you may need to show your existing loans agreements to the loans providers who may also want to see a breakdown of your incoming and outgoings financial information.

I need a quick payment just to last until my next payday, what I.D do I need?

 

For most loans providers they will need to see proof of your identity which could be in the form of a passport, birth certificate or even your driver ‘ s licence. They will need to see proof of your employment status which could be a contract of employment or letter from your employer or even a copy of your payslips. They will also need to see proof of your UK bank account and proof that you are over 18 years old. If you are applying for a homeowner or secured loan then they will also want to see proof that you own your home or any other asset that you are suing as collateral. Some loans providers want to see a reference or require you to provide details of a guarantor .

 

I am a homeowner, what happens of the value of my home decreases after I have my secured loan?

 

If the value of your home decreases after you have your secured loan and is worth less then the total amount that you owe then this is referred to as negative equity. Some loan providers are able to help you with this and can provide you with advice of how to manage your finances and your repayments. You will be guided through the process of recovering your loan settlement amount.

 

Do I have to have an meeting with my loans provider?

 

No, in most cases everything is completed over the internet through a secured server. You may be asked to fax some documents to your loans company but in a lot of cases you don’t even need to do this. You will be asked to e-sign your loan agreement. This makes the whole process pain free, quick and simple.

 

I rent my home and don’t have my own car, what loan is available for me?

 

Yes you can, if you don’t have any assets to which you can use as collateral to secure your secured own homeowner loan then you can opt for a unsecured loans which means that you can still get the cash you need without the worry of loosing your assets should you default on your repayments.

 

With invoice discounting can I still remain in control of my financial accounts ledger?

 

Yes, your discounting company will buy the invoices from you but you will still remain in control of obtaining payment form your customers. This way you can be assured that you can maintain the relationship you want with your customers, they wont need to know that you are using a discounting company and you will remain I complete control of your account ledger throughout the whole period that you are causing a discounting company for.

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