Posted by | Category Blog | Date 27 February 2017

A Guide To Default Rates For Loans

What is a default rate The default rate or 'delinquency rate' refers to the percentage of funded customers that fail to repay their loans. When a customer misses repayments and finds themselves in a position where they are unable to repay at all, their loan is moved into a state of arrears, also known as default or delinquency. A customer that misses one repayment and then makes the next one or

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Posted by | Category Blog | Date 20 February 2017

Are late repayments taken automatically from the guarantor?

The question: If a borrower defaults on their guarantor loan, is the outstanding balance automatically taken from the guarantor's debit account. The answer is simply, no. Whilst every successfully funded customer will have a guarantor back up their loan in case they cannot repay, if it just a monthly payment that has not gone through, the lender will always try to collect outstanding funds from the main person first and foremost.

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Posted by | Category Blog | Date 16 February 2017

We are working with Talk Loans!

We are pleased to announce that we have recently started a partnership with Norwich-based company, Talk Loans. Talk Loans are different to other loan companies because as their name suggests, they like to talk to the customer. In an age where more applications are processed online and through comparison websites, the personal touch and quality customer service is slipping away. But with our new relationship with Talk Loans, we are

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