Frequently asked questions
Paying back my payday loan
Listed below are the most frequently asked questions we are asked for this section. If your question is not answered on this page either, call customer services on 0871 271 6111 (Call charges apply – 10p per minute from BT landlines, mobiles and other providers may vary) or click for Live Chat Support.
- How do I pay back my payday loan?
- How much do I have to repay?
- What happens if I can't make a payment?
- Can I defer my payment?
- My payday or debit card details have changed
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How do I pay back my payday loan?
Easy – we take the agreed repayment amount from your debit card on your next payday – there’s nothing else for you to do.
How much do I have to repay?
You will have to pay back the full amount of credit and interest on your next payday. You agree to pay us the Total Amount Payable on the Payment Date. We will take payment by cheque, standing order or debit card. By providing us with a debit card number, you authorise us to take a payment by debiting the card at any time from and including the Payment Date up to the date of any otherwise agreed arrangement with you for the payment of the Total Amount Payable (being a period of no longer than 90 days from the Payment Date). If during this period your payment of the Total Amount Payable fails, we may seek to collect a lower payment from you (although you will continue to owe us the remaining balance). We will notify you of any failed payment.
What happens if I can't make a payment?
We understand that people's circumstances can change. If this is the case, you must let us know as soon as possible and we will do our best to help.
The most important things to note are:
- Don't borrow money you don't think you can pay back
- Talk to us and we will help as much as possible
Please be aware that non repayment by you will result in MEM reporting this to the Credit Reference Agencies which may have a negative effect on your credit score. If you are having problems making a payment please contact us on 0871 271 6111 (Call charges apply - 10p per minute from BT landlines, mobiles and other providers may vary), and we can discuss your payment options.
Can I defer my payment?
Yes, please call us on 0871 271 6111. (Call charges apply – 10p per minute from BT landlines, mobiles and other providers may vary)
My payday or debit card details have changed
If your payday has changed, or you have a new debit card, please contact our customer services team on 0871 271 6111 (Call charges apply – 10p per minute from BT landlines, mobiles and other providers may vary) as soon as possible and they will make the necessary changes!
