Our commitment as a responsible lender
As a consumer credit lender, licensed by the Office of Fair Trading and a member of the BCCA and CCA, we have an obligation to you to ensure that we are treating you in a fair and responsible manner. WageDayAdvance is committed to responsible lending and the following information is designed to assist you in finding help and managing any financial difficulties that you find yourself in. WageDayAdvance complies with the good practice customer charter details can be found below.
New payday and short term loan customer charter and addendum to industry codes of practice
Please feel free to contact our customer service team on 0871 703 7777* with any questions.
What can you expect from WageDayAdvance Ltd
As part of our adherence to this policy, we will only lend an amount of credit that we are reasonably satisfied that you are able to repay including any charges on your next pay day. The loan we offer is designed to meet your needs and is only granted when an assessment of affordability of your financial situation has been undertaken according to the information you provide on your application.
We aim to ensure that your loan is explained in full, highlighting the risks as well as benefits in an open and transparent manner so that you are fully aware of the terms of your credit. We operate a transparent, fixed charging policy so that there are no hidden fees or charges, so you know how much you will repay before committing to the loan.
Our customer service team is always available to speak to you regarding your ability to make your repayments on any loan and we promise to act with professionalism and consideration when informed of serious payment issues relating to your account.
We always give reasonable notice of any changes in policy that may affect your loan.
We continually monitor our customer services team to ensure you always receive polite, professional and timely handling of any queries or complaints you may have. We aim to deal with all complaints using the procedure set out in our Complaints Policy.
This is what we ask of our customers
It is important that you provide us with accurate and complete information when making an application as we will use this information to carry out our affordability assessments.
We ask you to read all the contractual documents that we provide to you before agreeing to the loan and contact us if you have any questions regarding the loan.
Please take time to look at your monthly budget and the amount of money which you want to borrow and please call us for advice on the amount you can borrow based on your circumstances.
Please take time to regularly assess your financial commitments. If you may find it difficult to meet your repayments please contact us at the earliest opportunity to discuss this and make specific arrangements to assist you through this period.
What to do if you experience financial difficulty
We understand that our customers experience unexpected changes in their financial situation from time to time which may make paying back their loans difficult. We aim to provide support to our customers and if this does affect you the following information is designed to help you.
Pay day loans are not designed to cover long term financial difficulties and therefore if you cannot meet your repayments do not take out additional loans. You should seek advice from an independent financial advisor or from one of the organisations listed below.
It is important to be honest with yourself if you are experiencing financial difficulty and to contact us immediately if you do not believe you will be able to meet the repayment of your loan. If you do not make us aware of your financial difficulties and you default on your loan you may incur additional charges.
We advise you to regularly review your budget by listing all your bills, loans and other expenditures including credit cards and comparing this against your income. We all spend money on non-essential items and you should try to reduce your spending by prioritising on what is important such as rent, council tax, heating, and child support/maintenance payments.
If appropriate, you may want to think about contacting people who can help you, this could be family and friends and some unions and employers offer confidential counselling services to employees.
Organisations offering free debt advice
We recommend that you contact the following organisations in the event of financial difficulties. All of these offer free advice and may be able to help you.
The Money Advice Service – an independent service, set up by government to help people make the most of their money, providing free, unbiased money advice to everyone across the UK – online, over the phone and face to face. www.moneyadviceservice.org.uk or on 0300 500 5000
National Debtline – a free, confidential and independent telephone helpline for debt problems. www.nationaldebtline.co.uk or on Freephone 0808 808 4000 (England, Wales, and Scotland)
Advice UK - a network of independent advice-providing organisations. Telephone 020 7469 5700, or visit www.adviceuk.org.uk
Citizens Advice Bureau – a network of local offices offering free, confidential independent advice - www.citizensadvice.org.uk (England, Wales and Northern Ireland), or www.cas.org.uk (Scotland)
Christians Against Poverty – free advice with local networks www.capuk.org or tel 01274 760720
Consumer Credit Counselling Service – free, confidential advice and support – www.cccs.co.uk or tel 0800 138 1111
Credit Action – www.creditaction.org.uk or tel 0207 380 3390
Payplan – funded by the credit industry but is impartial and deals with all creditors. www.payplan.com or tel 0800 280 2816