May I borrow more cash and include it to my loan?

May I borrow more cash and include it to my loan?

Regrettably at the moment we can’t add-on additional funds to financing, you will need to settle your existing loan and reapply for a new one if you wish to borrow more money. When you yourself have further questions be sure to give us a call on 0345 266 0124.

Call us

You’ll e mail us to talk about any queries you have got regarding the loan on 0345 266 0124. Our company is open Monday to Saturday, 8am – 8pm and Sunday, 9am – 5pm. Please be aware we have been closed on bank holiday breaks. Calls can 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 is really as straight-forward as you can. 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.

Evaluating applications for credit

To simply help see whether to offer you credit also to guarantee accountable financing, your own personal circumstances are considered. To achieve this, each application is evaluated employing system called credit scoring.

Just just exactly How credit works that are scoring

Credit scoring can be used by most top economic organisations in the united kingdom to greatly help them determine whether or not to provide credit to a client. All AA applications proceed through a credit that is standard procedure, helping to make a choice predicated on a mixture of the knowledge 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 detail that is relevant value (or ‘score’). When most of the individual values have already been added together a score that is final the job is produced. Then an application for credit will usually be accepted if this score reaches a certain level, set internally by the loan provider. Then an application for credit may be declined if your score does not reach this level.

Why credit scoring is employed

Credit scoring is a automated procedure that enables each application become evaluated in an unbiased and constant way, making certain all clients are addressed fairly. It assists a economic organization to fulfill their appropriate and regulatory commitments being a accountable loan provider. Every application for credit features a certain degree of danger, no matter what dependable and accountable a person is. Credit scoring allows economic organisations to comprehend the amount of prospective danger for each individual applicant, and then an application will not be accepted if the risk is too high.

Why the application may be rejected

If the application is refused it just ensures that, on the basis of the given information available:

  • Your credit that is overall score maybe 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 application might not have met a number of associated with particular application requirements. As an example, you won’t be supplied with credit in the event the yearly earnings (excluding jobless advantages) is lower than ?12,000

Appealing a choice

In the event the application is declined, you’ve got the directly to charm your choice, though there isn’t any guarantee that the end result shall 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 may generally be expected to offer extra appropriate information to help your appeal, such as for instance copies of bank statements.

That which you can do next

Loan applications are 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 are refused credit somewhere else as banking institutions make their choices in numerous means.

You should obtain a duplicate of one’s credit history prior to making any further applications (a cost might be charged because of this solution). The Credit Reference 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 used because the 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

money key

Contact Experian at:

Experian Ltd, PO Box 8000, Nottingham NG80 7WE

Contact CIFAS at:

6th Floor Lynton House, 7-12 Tavistock Square London WC1H 9LT

Contact Callcredit Check at:

Callcredit Check, One Park Lane, Leeds, West Yorkshire LS3 1EP

Borrowing having an AA Loan

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