Where do I find information about my Direct Debit You can obtain information about your Direct Debit by calling 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
What is the Reward Loan and how does it work? The LiveLend Reward Loan is a loan that rewards you for improvements in your credit score. When your credit score goes up, the interest rate you'll be charged will go down. We'll look at your credit score every three months and if your credit score has gone up by 25 points, we'll automatically reduce your loan rate. Don't worry, this check won't affect your credit score. For every 25 points that your credit score increases, we'll reduce your loan rate by 2%, as long as you're up-to-date with your repayments. We'll reduce your loan rate straight away and reduce your monthly repayments, so your loan will cost you less! Your loan rate can reduce to 9.9%. We'll never put your rate back up, even if your score gets worse. The credit score we use to review your eligibility for rewards is taken directly from Equifax on the day that you apply for our loan. We'll always use this score for your Reward Loan. Our loan APRs (Annual Percentage Rates) start at 10.9% to 39.9%. Representative example: 25.7% APR representative based on a loan of £5,000, repayable over 42 months at an interest of 25.7% pa (fixed). Monthly repayment of £174.65. Total amount payable £7,335.28. Our representative APR applies to loans from £1,000 to £12,000, for terms of 12-60 months. Our loans are 25.7% APR Representative.
When will my reward be applied to my Reward Loan? Every three months, we'll do a reward review to see if you've qualified for a reward. If you have qualified for a reward, we'll put your rate down straight away. We'll do this automatically, so there's no need for you to do anything. We'll apply your reduced loan rate to your next loan repayment. This means your monthly repayment will be less.
How do I change my phone number? You can change your phone number by calling 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
I already have a loan with you, can I borrow more? Our customers aren't able to borrow more on top of their existing loan. If you need some extra support with your loan repayments or would like to chat to us about your loan in general, get in touch with us so we can help.
What if I want someone to act on my behalf in dealing with my loan account? If you need to put someone else in control of your account, for example, because you lack mental capacity to look after your own financial affairs, please get in touch with our team. We’ll need a copy of your registration of Power of Attorney.
Why haven't I earned a reward? This could be down to a number of reasons. We review your eligibility for a reward based on a credit score provided by Equifax. This score is called a ˜management score'. It's different from the score you'll see on your credit reports which show you how likely you are to get accepted for credit. It's shared with us from Equifax so that we can measure your score movement over time. We compare this score against a score taken directly from Equifax on the day that you apply for our loan. We use this score to review your eligibility for a reward every three months. Your score will need to be at least 25 points higher in order to earn a reward and you'll need to be up to date with your loan repayments. Your loan rate can reduce to 9.9%, so if your loan is at 9.9% or below, you won't be able to earn any more rewards.
How do I find out if my loan has closed? To find out if your loan has closed, get in touch with us by calling 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
Do you offer repayment holidays? If you’re struggling to make your next repayment, or have already missed a repayment, don’t panic. It's important that you get in touch with us straight away so that we can help.
We’ll work with you to understand your situation and offer a tailored solution to help get things back on track.
My circumstances have changed, what do I do? If you're aware of any change in your current circumstances, and think you may struggle to make your next repayment, please get in touch with us so that we can help you.