Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
From the 2nd January 2015 we stopped offering this type of loan to new and existing customers. The cost of this loan is higher than a loan taken out after the 2nd January 2015 as it wasn’t subject to the current Financial Conduct Authority interest rate cap.
If you have this loan you are charged a daily interest rate of 97p per day, per £100 borrowed. New rules, issued by the Financial Conduct Authority, state that the cost of loans taken out after 2nd January 2015 cannot be more than 80p per day, per £100 borrowed.
In addition, these new rules limit the total repayment of a loan to twice the original loan amount. So compared to the cost of a loan taken today, this loan is expensive.
If you currently have a Flex Advance loan with us we strongly encourage you to pay back this loan at the earliest opportunity to reduce the interest that you pay.
If you cannot afford to pay off the loan in full at the present time you can still reduce the interest that you are charged by making extra repayments at any time. Any additional repayments that you make will reduce the overall cost of the loan.
To discuss your loan or to make a payment please call our customer services team on 0333 006 2000. Please quote your customer number when you contact us. Our opening hours are Monday to Friday 8am to 8pm, Saturday 9am to 5pm and Sunday 10am to 4pm.
If you find that you’re struggling with your finances there are free independent sources of debt advice available to you. Click here for a list of sources