Warning: Late repayment can cause you serious money problems.
For help go to moneyadviceservice.org.uk
We are an
authorised credit broker and not a lender.
Warning: Late repayment can cause serious money problems, for help or advice please go to moneyadviceservice.org.uk
Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 2 months. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable). We are a credit broker not a Lender.
In case you are unsure about any of our products and services, we’ve put together a list of the most frequently asked questions. If, after reading these, we still haven't satisfied your query, then don’t hesitate to get in touch via our contact page.
Q: How much can I borrow?
A: You can borrow between £100 and £2000.
Q: What is Auto Decisioning?
A: Auto Decisioning allows lenders to make a decision on your loan application without the need for human interaction, for more information please contact your lender or see their privacy policy.
Q: How long can I borrow for?
A: You can borrow funds for any period between 2 - 12 months.
Q: When can I contact Viva Loans customer support?
A: You can contact our customer service staff on weekdays between 8am and
10pm. On weekends they will be happy to help between 9am and 10pm. If you are calling on a Bank holiday,
please check in advance. Please view our contact page. for more information.
Q: I can't remember my Viva Loans password, please help.
A: Locate the 'forgotten your password' link on our website and click on it.
A new password will be supplied by email.
Q: Will you check my credit score?
A: We do not at any time carry out any credit checks on our clients. However, lenders may use external credit reference agencies and credit scoring services to ascertain your eligibility for a loan or finance product. Whether you are eligible for a loan or finance product is at the lender's sole discretion. In accordance with the terms of our Privacy Policy, we may pass your personal information to prospective lenders to enable them to consider/decide whether to make a loan to you. This may involve credit and identity checking, and may involve third parties as appropriate.
Q: How long does the application form take the fill out?
A: On average, it takes users between 2 and 10 minutes to fill out our
application form.
Q: What are the eligibility criteria?
A: This may vary based on the loan requested, however generally you must be
aged 18 years or older, be a UK resident, have an active bank account into which you can receive direct
debits and have a regular source of income.
Q: How will I receive my funds?
A: Typically a payday loan will be transferred electronically into your
account via electronic transfer.
Q: How long will Viva Loans keep my credit agreement in the database?
A: As per the Data Protection regulations, your file will remain there for 6
years.
Q: Why is the representative APR so high?
A: APR Annual Percentage Rate and it is the amount of interest that
approximately 51% or more customers will receive against their loan. Because RAPR is calculated on an annual
basis, it is more often suited to assist customers in comparing the suitability of longer term loans (taken
for 12 months or more) and therefore it is less representative of how much you will look to re-pay on a
shorter term loan. As a result, we prefer to focus on exactly how much you will re-pay rather than the RAPR.
Q: What service does Viva Loans provide?
A: Viva Loans provides customers with access to a UK payday and short
term lenders panel through one simple application form. Viva Loans is not a lender and doesn’t directly offer loans
there is absolutely no charge to use the service and during your application you will be under no obligation
to accept a loan.
Q: How long does it take to apply and receive my funds?
A: We will take your details; run them through our panel of lenders and a few
moments later we will let you know whether or not you have been accepted for a loan. If you have, we will
forward you to the lender’s completion page so that you can sign for your loan electronically.
Q: Will lenders check my credit score?
A: Lenders will check your credit score.
Q: Will my credit score affect my application?
A: Not necessarily. Many of the lenders on our panel specialise in working
with individuals who have a poor credit rating, so no matter what your credit score you can still apply for
a loan. There may still be lenders willing to accept your application, but there may be fewer of them when
you complete the qualification process. However, if you are experiencing financial hardships we strongly
advise that you seek professional help and refrain from taking out further credit.
Q: How soon could I receive my funds?
A: If you make your loan application and you are accepted by a lender on a
weekday before 3pm, you could receive your money on that very same day. However, if you make your
application and you are accepted for a loan after 3pm or on a weekend/bank holiday, you will often receive
your funds on the next available working day. The time a loan takes to get paid out can vary from Lender to
Lender. You should always confirm this with the lender directly.
Q: How can I payback my Payday Loan?
A: When you sign up, the terms of the loan that you are trying to qualify for
are made clear to you within the lender agreement. In most instances a payday loan re-payment will be
automatically debited from your account on the agreed re-payment date. This means that all you need to do is
ensure that you have the correct funds in your account and your lender will do the rest!
Q: Can I defer my payment?
A: Many lenders will allow you to defer or re-arrange your payment should you
be unable to meet the original agreed re-payment date. However, VivaLoans does not advise renewing or
rearranging your re-payment date as this could mean that you incur further charges as a result. Please only
take out a payday loan if you feel sure that you will be able to re-pay what you owe.
Q: What should I do if I have problems repaying?
A: If you have any issues regarding the re-payment of your loan you must
contact your lender in the first instance. They will be able to discuss any options that you have moving
forward and offer advice about how you can re-pay what you owe.