We appreciate that many of you have financial worries due to the Coronavirus pandemic. As such we wanted to provide you with some information that can help you manage your account and finances through this time.
To keep on top of your loan, you can login to your loan portal here. You’re also able to contact your Customer Care Manager at any point.
If your financial situation has been negatively affected by the Coronavirus and you are struggling to make your next payment, please do not worry. Fast Loan UK won’t ever charge you for a missed or late payment, however, you will need to let us know as soon as possible so we can take action on your account.
We have put in place a range of support measures to either reduce your payments, or allow you to take a payment holiday/deferral – This is a period where you don’t have to make any repayments.
During this arrangement, we are required to report your arrears to the Credit Reference Agencies (CRAs).
However, because of the unprecedented circumstances of the Coronavirus pandemic, we have agreed with the CRAs that we won’t need to report any late payments arrears for the period of the temporary arrangement. Instead, we’ll freeze the status of your loan account at the CRAs. However, we can’t guarantee that this will not impact your ability to get credit elsewhere as many lenders use many sources of information when determining the suitability of a loan.
By requesting a payment deferral, you are confirming:
• You have been financially impacted by the coronavirus pandemic
• You want to proceed with the payment holiday/deferral
• You will be able to start to repay your loan once the payment holiday/deferral ends
Please be aware if you decide to delay any payments, you will still have to make these payments at a later date. When a customer requests this payment holiday/deferral, we will add a month onto the end of your loan free of charge.
Once the payment deferral ends, you’ll need to continue to make your future scheduled payments. If the payment holiday/deferral ends and you are unable to get back on track with your payments, please let us know as soon as possible.
Please be aware that if the arrangement ends and there’s no new arrangement, or if you decide to break this arrangement, we may record any missed payments arrears accrued on the account during the period of the payment holiday/deferral at the CRA. This may result in a negative mark om your credit file.
It is very important that you get in touch to discuss with us any negative or improved change to your financial circumstances during the payment holiday/deferral, in particular before the end date so that we have time to review the arrangement.
You can request a payment holiday/deferral by getting in touch with us.
Please email us a email@example.com or get in touch directly with your Customer Care Manager. You can also report a Change in Circumstances in your loan portal at www.fastloanuk.co.uk/login/.
If you are worried about debt or would like more information on how to manage your finances, there are a number of free, independent organisations which can help.
StepChange Debt Charity offers free, confidential advice and debt support, and are a registered charity. www.stepchange.org
Money Advice Service can offer you free independent, impartial and confidential debt advice. www.moneyadviceservice.org
National Debt Line offers free, confidential debt advice. This is a service run by Money Advice Trust www.nationaldebtline.org
We want to make you aware that there has been an increase in the number of fraudsters taking advantage of the coronavirus outbreak.
If it looks like Fast Loan UK are contacting you, make sure it’s really us. We are aware of Fraudsters pretending to be us – These fraudsters offer you loans and request upfront fees. Please do not fall victim to this.
If you’re unsure, use your login area or contact your Customer Care Manager
The, NHS, UK Goverment website, and World Health Organisation (WHO) are the best websites to visit for the most up to date information.