Could I borrow additional money and include it to my loan?

Unfortuitously at the moment we can’t increase extra funds to that loan, if you want to borrow more income it is important to settle your current loan and reapply for a unique one. When you yourself have further questions be sure to give us a call on 0345 266 0124.

Contact us

You can easily call us to go over any inquiries you’ve got regarding your loan on 0345 266 0124. We have been available to Saturday, 8am – 8pm and Sunday, 9am – 5pm monday. Please be aware we have been closed on bank holiday breaks. Phone telephone telephone Calls might be recorded for training and monitoring purposes.

Instead, you can easily 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 can. That’s why some guides have been written by us that will help you both everyday or when things aren’t going quite as you’d planned.

Evaluating applications for credit

To aid see whether to offer you credit and also to guarantee lending that is responsible your own personal circumstances are taken into consideration. To achieve this, each application is evaluated employing system called credit scoring.

Just just just How credit works that are scoring

Credit scoring is employed 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 credit that is standard procedure, making a choice centered on a variety of the info 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 now been added together a last score for the job is produced. If this rating reaches a specific degree, set internally by the loan company, then a credit card applicatoin for credit will most likely be accepted. Should your rating will not achieve this degree, then a software for credit can be declined.

Why credit scoring is employed

Credit scoring can be a process that is automated allows each application become evaluated within an unbiased and constant manner, making certain all clients are addressed fairly. It can also help a economic organization to fulfill their appropriate and regulatory commitments as a accountable loan provider. Every application for credit features a level that is certain of, regardless of how dependable and accountable a client is. Credit scoring allows monetary organisations to comprehend the degree of possible danger for every individual applicant, and then an application will not be accepted if the risk is too high.

Why the application may be refused

If for example the application is refused it just ensures that, in line with the given information available:

  • Your credit that is overall score maybe maybe not high sufficient to pass the necessary threshold, or
  • There might be information held during the Credit Reference and/or Fraud Prevention Agencies that has been interpreted as negative, or
  • The application might not have met more than one of the certain application demands. As an example, you won’t be supplied with credit if for example the yearly earnings (excluding jobless advantages) is lower than ?12,000

Appealing a determination

In case the application is declined, you’ve got the directly to charm your choice, even 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 may generally be expected to produce additional information that is relevant help your appeal, such as for instance copies of bank statements.

What you could do next

Loan requests 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.

You need to get a duplicate of one’s credit report before generally making any further applications (a cost could 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 – ended up being utilized due to the fact Fraud Prevention Agencyfor your application, 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

Borrowing with an AA Loan

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