Unfortuitously at the moment we can’t add-on extra funds to that loan, should you want to borrow additional money you will have to settle your current loan and reapply for a brand new one. On 0345 266 0124 if you have further questions please call us.
It is possible to call us to talk about 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. Please be aware we have been closed on bank vacations. Phone phone Calls could be recorded for monitoring and training purposes.
Instead, you’ll compose to us: AA Loans, PO Box 248, Sheffield, S98 1QF.
Help and gu
You want to ensure that handling your money can be as straight-forward as you are able to. 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.
Assessing applications for credit
To simply help see whether to offer you credit and also to make sure lending that is responsible your individual circumstances are taken into consideration. For this, each application is evaluated utilizing an operational system called credit scoring.
Just exactly exactly How credit works that are scoring
Credit scoring can be used by many major organisations that are financial the united kingdom to greatly help them determine whether or not to provide credit to an individual. All AA applications proceed through a regular credit scoring procedure, helping to make a choice centered on a mixture of the knowledge you have supplied, the mortgage provider’s financing requirements 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 all of the individual values are added together a final 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. If for example the rating doesn’t achieve this degree, then a credit card applicatoin for credit can be declined.
Why credit scoring is employed
Credit scoring is a process that is automated enables each application become evaluated in an unbiased and constant way, making sure all clients are addressed fairly. It can also help an economic organization to fulfill their appropriate and regulatory commitments as being a accountable loan provider. Every application for credit includes a particular degree of danger, regardless of how dependable and accountable an individual is. Credit scoring allows economic organisations to know the degree of prospective danger for every individual applicant, and in the event that danger is simply too high then a software will never be accepted.
Why the job may be rejected
In the event the application is refused it just implies that, on the basis of the given information available:
- Your general credit history ended up being maybe perhaps not high sufficient to pass the mandatory threshold, or
- There could be information held during the Credit Reference and/or Fraud Prevention Agencies that has been interpreted as negative, or
- The job might not have met several for the particular application demands. As an example, you won’t be supplied with credit in the event your yearly income (excluding jobless advantages) is not as much as ?12,000
Appealing a choice
If for example the application is declined, you’ve got the straight to charm your choice, though there is not any guarantee that the results shall change. You can easily request an appeal by calling Customer Services on 0345 266 0124 or by composing to us during the address below. You are going to generally be expected to present extra information that is relevant help your appeal, such as for example copies of bank statements.
That which you can do next
Loan requests could be declined it doesn’t 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.
You need to get a duplicate of one’s credit history before you make any applications that are furthera fee can be charged because of 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 given that Fraud Prevention Agencyfor the job, and their contact information will 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