Regrettably at the moment we can not increase extra funds to that loan, should you want to borrow more cash you need to settle your current loan and reapply for a fresh one. When you yourself have further questions be sure to contact us on 0345 266 0124.
You’ll e mail us to go over any questions you’ve got regarding your loan on 0345 266 0124. We have been available Monday to Saturday, 8am – 8pm and Sunday, 9am – 5pm. Take note we have been closed on bank vacations. Phone telephone phone Calls might 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
You want to make sure handling your money can be as straight-forward as you possibly can. That’s why some guides have been written by us to assist you both everyday or when things aren’t going quite as you’d planned.
Evaluating applications for credit
To simply help determine whether to offer credit and also to guarantee lending that is responsible your own personal circumstances are considered. To work on this, each application is evaluated employing an operational system called credit scoring.
Exactly exactly just How credit scoring works
Credit scoring can be used by many major monetary organisations in great britain to greatly help them determine whether or not to provide credit to a person. All AA loan requests proceed through a credit that is standard procedure, helping to make a choice according to a mix of the knowledge you have supplied, 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 providing each appropriate information a value (or ‘score’). Whenever most of the individual values have already been added together a score that is final the job is produced. If this rating reaches a specific degree, set internally because of the loan company, then a credit card applicatoin for credit will most likely be accepted. 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 examined in an unbiased and constant way, making certain all clients are addressed fairly. In addition assists a monetary organisation to fulfill their legal and regulatory commitments being a lender that is responsible. Every application for credit carries a level that is certain of, regardless of how dependable and accountable a person is. Credit scoring allows monetary organisations to know the degree of possible risk for every individual applicant, and in the event that danger is simply too high then a software won’t be accepted.
Why the job might be rejected
In the event your application is rejected it just ensures that, on the basis of the given information available:
- Your credit that is overall score perhaps not high adequate to pass the necessary threshold, or
- There could be information held in the Credit Reference and/or Fraud Prevention Agencies which includes been interpreted as negative, or
- The application might not have met a number of associated with particular application demands. As an example, you won’t be supplied with credit when your yearly earnings (excluding jobless advantages) is significantly less than ?12,000
Appealing a choice
In case the application is declined, there is the directly to charm the decision, even though there is not any guarantee that the results will alter. You are able to request an appeal by calling Customer Services on 0345 266 0124 or by composing to us during the address below. You will definitely generally be expected to supply extra relevant information to help your appeal, such as for example copies of bank statements.
What you could do next
Loan requests may be declined it doesn’t matter what info is held because of the Credit Reference and Fraud Prevention Agencies, and if you should be unsuccessful in trying to get an AA Loan it will not signify you are refused credit somewhere else as finance institutions make their choices in various methods.
You should obtain a duplicate of the credit history before generally making any further applications (a cost could be charged with this solution). 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 united kingdom’s Fraud Prevention Service – had been utilized once the Fraud Prevention Agencyfor the job, and their contact details 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