How do I set up a new Direct Debit? To set your Direct Debit back up, please follow the steps below: It’s important that you have a Direct Debit set up to help you make your monthly repayments on time.
What happens if I want to make an overpayment on my loan? You can make overpayments, to reduce the interest you pay on your loan by following these simple steps. Once you've made your payment, your account will be updated within a few days. The good news is that at LiveLend we don't charge you for making overpayments, or for repaying your loan early. So you save interest and pay your loan off quicker.
I want to change the amount I repay monthly as I can’t afford it anymore, what do I do? If you’re struggling to make your next repayment, or have already missed a repayment, don’t panic. At LiveLend, we won’t charge you for missing a repayment. However, missing a repayment will result in you paying additional interest on your loan, and could have a negative impact on your credit score.
We can work with you to make sure this doesn’t happen so if you feel you’d benefit from additional support, we’ll give you a call to understand your situation and help you find a solution that’s right for you. Get in touch with us and we’ll help you get things back on track.
Can I stop getting monthly payment reminders? So that we can keep you updated on when payments will be taken throughout your loan term, we email or text all of our customers three days before their repayment is due. This helps you keep track of your repayments and also lets you know about any changes that may affect your repayment date or amount such as: We believe it’s our responsibility to keep you informed about your upcoming payments so that it’s easier for you to manage your money. If you want to change the way you get your payment reminders, you can update your preferences on the Account page when you’re logged in. If you’ve not selected your communication preferences, we’ll send you the reminders by text.
How do I change my repayment date for my loan? We recommend you pick a date close to the day you get paid as most of our customers find this easier to manage. You won’t be able to change your repayment date within the first 12 months of your loan.
Can you send me a reminder before my monthly repayment is due? Yes, so that we can keep you updated on when your payments will be taken throughout your loan term, we email or text all of our customers three days before their repayment is due. If you want to change the way you get your payment reminders, you can update your preferences on the Account page when you’re logged in. If you’ve not selected your communication preferences, we’ll send you the reminders by text. If you’re not receiving these reminders, get in touch with us.
How can I find out how many loan repayments I have left to make? To view your loan information, simply log in to your account and select Overview. Your 'Remaining term' is shown as well as your 'Loan to be settled' date. Your repayment amount and date are shown at the bottom of the page under the Payments section.
Can I decide what date of the month the payments leave my account? When you apply for your loan, you can choose the date you'd like your payments to be taken from your account. We recommend you pick a date close to the day you get paid as most of our customers find this easier to manage. Depending what date you pick, your loan might start the following month.
If I miss a payment, will you put my loan rate back up on my Reward Loan? No, once your loan rate has been reduced, we’ll never put your rate back up. You can't earn further rewards whilst you're behind on your payments, but as soon as you’re up to date with your payments you’ll be able to reduce your rate again. Once you’re back on top with your repayments, we’ll review your credit score in the usual way every three months and you’ll have the opportunity to earn more rewards.
Can I pay more than my monthly repayment amount? You can make overpayments anytime during your loan term by following these simple steps. Once you've made your payment, your account will be updated within a few days. The good news is that at LiveLend we don't charge you for making overpayments, or for repaying your loan early. So you save interest and pay your loan off quicker.