Unfortunately at the moment we can’t add-on additional funds to that loan, if you want to borrow more income you will have to settle your current loan and reapply for a brand new one. When you yourself have further questions be sure to give us a call on 0345 266 0124.
You are able to call us to go over 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’re closed on bank vacations. Telephone Calls can be recorded for training and monitoring purposes.
Alternatively, you are able to 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 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 account. To achieve this, each application is examined making use of an operational system called credit scoring.
Just How credit works that are scoring
Credit scoring is employed by most top organisations that are financial great britain to greatly help them determine whether or not to provide credit to a client. All AA loan requests proceed through a regular credit scoring procedure, helping to make a determination centered on a mixture 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 offering each appropriate information a value (or ‘score’). Whenever most of the individual values have already been added together a last rating for the job is produced. If this rating reaches a specific degree, set internally by the financial institution, then a credit card applicatoin for credit will often 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 process that is automated permits each application to be examined in an unbiased and constant way, making certain all clients are addressed fairly. It assists a monetary organization to satisfy their appropriate and regulatory commitments as a lender that is responsible. Every application for credit features a level that is certain of, regardless of how dependable and accountable an individual is. Credit scoring allows monetary organisations to comprehend the degree of potential danger for every individual applicant, and in the event that danger is simply too high then a credit card applicatoin won’t be accepted.
Why the application might be refused
In the event your application is rejected it just means, in line with the given information available:
- Your credit that is overall score perhaps perhaps not high sufficient to pass through the mandatory threshold, or
- There might be information held during the Credit Reference and/or Fraud Prevention Agencies which was interpreted as negative, or
- The application might not have met more than one of this application that is specific. For instance, you won’t be supplied with credit in case the yearly earnings (excluding jobless advantages) is lower than ?12,000
Appealing a determination
In the event your application is declined, you’ve got the straight to charm your decision, though there is not any guarantee that the end result will alter. You are able to request an appeal by calling Customer Services on 0345 266 0124 or by composing to us in the address below. You certainly will generally be expected to give extra information that is relevant help your appeal, such as for instance copies of bank statements.
That which you can do next
Loan requests may be declined no matter what info is held because of the Credit Reference and Fraud Prevention Agencies, and if you’re unsuccessful in trying to get an AA Loan it generally does not imply that you’ll be refused credit somewhere else as banking institutions make their choices in numerous means.
You should obtain a duplicate of the credit file before generally read the full info here making any further applications (a charge might 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 – ended up being utilized since the Fraud Prevention Agencyfor the job, and their contact 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