Unfortuitously at the moment we can not increase extra funds to financing, you will need to settle your existing loan and reapply for a new one if you wish to borrow more money. When you yourself have further questions be sure to give us a call on 0345 266 0124.
E mail us
It is possible to e mail us to talk about any questions you have got regarding the loan on 0345 266 0124. Our company is open Monday to Saturday, 8am – 8pm and Sunday, 9am – 5pm. Take note we have been closed on bank vacations. Phone Calls could be recorded for monitoring and training purposes.
Instead, you are able to compose to us: AA Loans, PO Box 248, Sheffield, S98 1QF.
Help and gu
You want to be sure that handling your money can be straight-forward as you can. That’s why we now have written some guides that will help you both everyday or when things aren’t going quite as you’d planned.
Evaluating applications for credit
To greatly help see whether to offer you credit also to guarantee accountable financing, your private circumstances are taken into consideration. For this, each application is examined utilizing system called credit scoring.
Exactly exactly just How credit scoring works
Credit scoring can be used by most top economic organisations in the united kingdom to greatly help them determine whether or not to provide credit to a client. All AA loan requests proceed through a typical credit scoring procedure, helping to make a choice centered on a variety of the details you have provided, the mortgage provider’s financing requirements and information acquired from both Credit Reference and Fraud Prevention Agencies.
Credit scoring works by firmly taking all this information and offering each appropriate information a value (or ‘score’). Whenever all of the individual values have now been added together a score that is final the job is produced. If this rating reaches a particular degree, set internally because of the financial institution, then a software for credit will most likely be accepted. Should your rating doesn’t achieve this degree, then an application for credit might be declined.
Why credit scoring is employed
Credit scoring is a automatic procedure that enables each application become evaluated in a unbiased and consistent way, making certain all clients are addressed fairly. It assists a monetary organization to meet up their appropriate and regulatory commitments as a accountable loan provider. Every application for credit features a specific degree of danger, no matter what dependable and accountable a client is. Credit scoring allows economic organisations to know the amount of possible danger for every individual applicant, and in the event that danger is just too high then a credit card applicatoin won’t be accepted.
Why the job may be refused
If the application is refused it just implies that, in line with the information available:
- Your general credit rating had been perhaps perhaps not high enough to pass the desired threshold, or
- There could be information held at the Credit Reference and/or Fraud Prevention Agencies that has been interpreted as negative, or
- The job might not have met a number of of this application that is specific. For instance, you simply will not be supplied with credit should your yearly earnings (excluding jobless advantages) is not as much as ?12,000
Appealing a determination
In the event your application is declined, you’ve got the directly to charm your decision, though there isn’t any guarantee that the results will alter. You can easily request an appeal by calling Customer Services on 0345 266 0124 or by composing to us during the address below. You certainly will generally be asked to supply extra information that is relevant help your appeal, such as for instance copies of bank statements.
That which you can do next
Loan requests could be declined it doesn’t matter what info is held by the Credit Reference and Fraud Prevention Agencies, and that you will be refused credit elsewhere as financial institutions make their decisions in different ways if you are unsuccessful in applying for an AA Loan it does not mean.
You should get a duplicate of one’s credit history prior to making any further applications (a cost can be charged with this service). The Credit guide Agencies used for your AA application for the loan had been, Experian Ltd and Callcredit Check, and their contact information are below. CIFAS – the UK’s Fraud Prevention Service – ended up being used given that Fraud Prevention Agencyfor the job, and their contact https://speedyloan.net/reviews/moneykey information may also be below.
E mail us at:
AA Loans PO Box 248, Sheffield S98 1QF
Contact Experian at:
Experian Ltd, PO Box 8000, Nottingham NG80 7WE
Contact CIFAS at:
6th Floor Lynton home, 7-12 Tavistock Square London WC1H 9LT
Contact Callcredit Check at:
Callcredit Check, One Park Lane, Leeds, West Yorkshire LS3 1EP
Borrowing with an AA Loan