Unfortuitously at the moment we can’t increase additional funds to that loan, you will need to settle your existing loan and reapply for a new one if you wish to borrow more money. On 0345 266 0124 if you have further questions please call us.
It is possible to e mail us to talk about any questions you’ve got regarding the loan on 0345 266 0124. We have been available Monday to Saturday, 8am – 8pm and Sunday, 9am – 5pm. Please be aware we have been closed on bank holiday breaks. Telephone phone telephone Calls could be recorded for monitoring and training purposes.
Instead, you can easily compose to us: AA Loans, PO Box 248, Sheffield, S98 1QF.
Help and gu
We should ensure that handling your money is really as straight-forward as you can. That’s why we’ve written some guides to assist you both everyday or when things aren’t going quite as you’d planned.
Evaluating applications for credit
To aid see whether to offer credit and also to make sure accountable financing, your own personal circumstances are taken into consideration. To get this done, each application is examined making use of system called credit scoring.
Just How credit scoring works
Credit scoring can be used by many major economic organisations in the united kingdom to greatly help them determine whether or not to provide credit to an individual. All AA applications proceed through a typical credit scoring procedure, helping to make a determination centered on a mix of the data you have supplied, the mortgage provider’s financing criteria and information obtained from both Credit Reference and Fraud Prevention Agencies.
Credit scoring works by firmly taking all this information and providing each detail that is relevant value (or ‘score’). Whenever most of the individual values have now been added together a last rating for the application is produced. Then an application for credit will usually be accepted if this score reaches a certain level, set internally by the loan provider. Then an application for credit may be declined if your score does not reach this level.
Why credit scoring can be used
Credit scoring can be a automatic procedure that enables each application become evaluated within an unbiased and consistent way, making sure all clients are addressed fairly. In addition article assists a monetary organization to satisfy their appropriate and regulatory commitments being a lender that is responsible. Every application for credit features a level that is certain of, in spite of how dependable and accountable an individual is. Credit scoring allows monetary organisations to comprehend the degree of prospective danger for every individual applicant, and then an application will not be accepted if the risk is too high.
Why the application might be refused
When your application is refused it simply ensures that, in line with the information available:
- Your credit that is overall score maybe perhaps not high sufficient to pass through the necessary threshold, or
- There might be information held in the Credit Reference and/or Fraud Prevention Agencies which was interpreted as negative, or
- Your application might not have met a number of of this particular application needs. As an example, you’ll not be supplied with credit if for example the yearly earnings (excluding jobless advantages) is lower than ?12,000
Appealing a determination
Should your application is declined, there is the directly to appeal your decision, even though there is not any guarantee that the results shall alter. You’ll 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 expected to give extra relevant information to support your appeal, such as for example copies of bank statements.
Everything you can do next
Applications may be declined no matter what info is held because of 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.
It is wise to get a duplicate of the credit report prior to making any applications that are furthera cost can be charged with this solution). The Credit guide Agencies used for your AA application for the loan were, Experian Ltd and Callcredit Check, and their contact information are below. CIFAS – the united kingdom’s Fraud Prevention Service – had been utilized once the Fraud Prevention Agencyfor the job, and their contact information will also be below.
Call 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