What happens if my payment fails?
We know that sometimes things don't go to plan. If a repayment fails, we'll email you immediately. We will usually attempt to collect the payment again automatically 14 days later.
You can make a manual payment through your dashboard, but only after you receive our email confirmation that the payment was missed.
Will a missed payment affect my credit file?
Missed payments are reported to credit reference agencies and will appear in your credit file history. Please note, this could affect your ability to borrow in the future.
Do you offer payment holidays?
We do not currently offer payment holidays. If you are experiencing financial difficulties, please get in contact with us at payments@fluro.co.uk to see how we can best support you.
What should I do if I missed a payment?
You can wait for our automatic second attempt 14 days later, or you can make a manual payment through your dashboard, but only after you receive our email confirmation that the payment was missed.
We know that sometimes things don't go to plan. If a payment fails, we'll email you immediately. We will usually attempt to collect the payment again automatically 14 days later.
You can make a manual payment through your dashboard, but only after you receive our email confirmation that the payment was missed.
Why was my credit file updated?
We're required to report accurate payment information to credit bureaus. This typically happens when a payment is late or missed.
If you think there's been an error, contact our Customer Experience team on 020 7096 8512 or via cx@fluro.co.uk to resolve this.
Can I get help if I'm struggling to pay?
Yes. Our specialist team is here to help. Contact us at payments@fluro.co.uk and we'll work with you to find a suitable support option, such as a reduced payment plan.
What is the arrears notice I received?
We send this notice, every 6 months, to keep you informed when your account has fallen behind by the equivalent of two or more regular monthly payments.
It explains:
- How much you are behind on your payments, and;
- The support and options available to help you get back on track.
If you clear the overdue amount before the notice is due, you may not receive one.
If you already have a repayment plan in place, this notice is for information only and does not change your arrangement.
Why can't I make a payment right now?
To prevent duplicate payments and reconciliation issues, we generally will only allow one payment to be processed at a time. Often, the pending payment is your monthly direct debit repayment, and you will need to wait for that to have been processed.
How long do different payment methods take to process?
Payments can be received in a few ways, and the following are rough processing times:
- Monthly Direct Debit Repayment - 2 business days
- Manual Direct Debit - 5-6 business days
- Bank transfer:
- Faster Payments (most common) - Within a few hours
- BACs - Up to 3 business days
Why is my settlement figure higher than expected?
Your settlement figure isn't just what's left of the amount you borrowed.
It includes:
- the remaining amount you still owe, plus
- the interest that has built up since your last payment, and a small amount of interest up to the date you want to settle.
That's why it can look higher than you expected. The figure we show you is the full amount needed to clear the loan in one go, so once you pay it, your balance will be £0.
Why is more interest charged at the start of my loan?
Interest is accrued daily based on your remaining balance. Because your balance is highest at the beginning of your loan, the amount of interest you pay is also higher in the early months.
What is a default?
A default is recorded on your credit file when your account has been in arrears for 3 to 4 months. It remains visible for 6 years and can make it harder to get credit in future.
Before registering a default, we'll always send you a 'Default Notice' giving you at least 14 days to bring your account up to date and avoid the default being recorded.
Can I change my due date if I'm in arrears?
Your due date cannot be amended when your account is in arrears, this will need to be cleared first to make the change.
Can I reduce my monthly payments?
This is something we can consider, but it depends on your circumstances. We would need you to complete an Income and Expenditure (I&E) form first so we can see if this is the right option for you.
Will a payment arrangement affect my credit file?
If we've agreed a reduced payment plan with you, we report this as an "arrangement" to credit bureaus. While this does appear on your credit file, it shows lenders that you're actively managing your debt with our support, rather than missing payments without contact.
Why do I need to pay the re-aged amount first?
Since the loan has been re-aged, you will need to pay the re-aged amount first and once settled, we can then provide a settlement figure.
I just missed a payment - when can I pay?
If you missed a payment today or yesterday, please wait at least 2 working days for the payment to officially "fail" in our system before paying. If you pay too early, it might be applied as an "overpayment" instead of clearing your arrears.
We have a 14-day grace period, so as long as you pay the arrears within this timeframe, you will not be negatively affected (e.g. no late payment reported on your credit file).
Why was my Direct Debit cancelled?
We automatically cancel the direct debit to ensure we don't continue to attempt repayment whilst a DMP is being set up.
If you are already in an arrangement that is coming to an end. Please contact us on 020 7096 8512 or payments@fluro.co.uk to discuss your options moving forward.
I'm in financial difficulty - can you help?
Yes. Our specialist team is here to help. Contact us at payments@fluro.co.uk and we'll work with you to find a suitable support option, such as a reduced payment plan.
How do I discuss my missed payment?
To discuss anything about your missed payment, please call us on 020 7096 8512, or email us at payments@fluro.co.uk.
I've lost my job - can you help?
Yes. Our specialist team is here to help. Contact us at payments@fluro.co.uk and we'll work with you to find a suitable support option, such as a reduced payment plan.
I'm going through a difficult time - can you help?
Yes. Our specialist team is here to help. Contact us at payments@fluro.co.uk and we'll work with you to find a suitable support option, such as a reduced payment plan.
I'm worried about my payments - what should I do?
Yes. Our specialist team is here to help. Contact us at payments@fluro.co.uk and we'll work with you to find a suitable support option, such as a reduced payment plan.
What happens if I enter a Debt Management Plan (DMP)?
If you enter a Debt Management Plan, your debt adviser will contact us with an affordable payment offer. We work with all major free debt advice charities and will review the plan to make sure it's fair and sustainable.
While it's being set up, you may still receive some automatic arrears notices, but these are required by regulation and don't mean we're ignoring your DMP. If you're struggling, we'd always encourage you to speak to a free, independent debt advice charity.
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