Result of Non-Payment:

If you are not able to pay the installments for your loan, you should contact your lender as soon as possible. If you miss payments, it can result in repeated phone calls, letters or texts from your lender to arrange for a renewed payment schedule. If you are still not able to pay that can result in fines/ more interest rate or even reporting to credit reference agencies, that can result in your credit score to be lowered. That stays on your file for a long time. Always think carefully before securing any kind of loan through us or any other lender.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Collection Practices

Lenders are also human at the end of the day. They have lent you money in good faith and want it back with interest that was agreed at the beginning. If you miss your payments or are unable to pay for whatever reason please do not hesitate to contact on the first occasion and discuss your circumstances. Non-payment can be harmful to your credit score, can increase the loan amount by adding penalties and in the end, the debt can be passed to debt collection agencies as well, which would only add further charges. In some extreme cases, you can be taken to court by the lender as well.
 

Late Payment

In any case, if you think you will be late in paying your installment, you should always contact your lender well in advance. This will help you in maintaining a good rapport with them while avoiding fines and charges. Some lenders can still issue you with late payment charges, this will differ subject to lender’s Terms and Conditions. So always make sure that when you accept a loan from any lender, do read their Terms

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Renewal Policy

Sometimes you might need to renew your loan or extend the term of your loan. In such cases, you should contact your lender in advance. Many lenders on our panel will charge you the same interest rate and fee for another month or so without penalizing you. Please think carefully before extending or renewing a loan as this could result in your repayments to increase significantly.

Representative Example

Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28 Interest: £428.28. Interest rate: 49.9% pa (variable). Representative 49.9% APR Variable.
 

Pride Loans.co.uk is a free service for the general public in the UK. Please note that no one from Pride Loans or Sunrise Money Limited will ever ask you to pay any kind of upfront fee to use our services.

At Pride Loans, we are committed to help protect you against fraud. We insist that you take all security measures before you give out any sensitive details to anyone over the phone or on any website. We will never ask you to give out your debit card numbers or security code. The only sensitive banking information we need is the Sort Code and Account number, that is to run a soft search on you so we can match you with lenders.

We always make sure that applicants on our website feel secure while browsing or applying for a loan. Your Sort code and Account number is mentioned on every debit card you have. In some cases when you lose your debit card the bank sends you another one, with same sort code and account number mentioned on it. The only thing that changes is the Long Card Number. So we appeal to you to not give your long card number of a debit or credit card to anyone, that you don’t trust.

If you think you’ve been a victim of fraud, please see our important steps below to get help on this matter.

Don’t pay to get a loan!

If you think you’re a victim of fraud, stop sending money and notify your bank straight away. In many cases your bank should be able to help you, but in many cases once the money is lost it’s gone for ever. So be very thoughtful before giving your card details, transferring money online to someone’s account, sending money via Western Union, Money Gram or any other money transfer means in order to get a loan.

Report a scam, this might save another person.

Below are some links where you can report anyone asking for money to get you a loan. Make sure you get the phone number, Website Address, Time and date.

Action Fraud
Money Advice Service on scams
Citizens Advice – Scams
Victim Support

Further Support

Contact the financial conduct authority for more information: 
Telephone: 0800 111 6768 
Email: consumer.queries@fca.org.uk

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk