Consumer Support

Managing Your Borrowing

Managing your money can feel overwhelming at times—but you’re not alone. This page provides clear, practical advice for home credit customers. It covers budgeting, choosing the right loan, understanding costs, repayment options, dealing with repayment difficulties, and where to find free, confidential help.

Support Needs

If you have any support needs—such as related to your health, recent life events, financial resilience, or understanding information—please let us know. We’ll make sure everything is clear and suited to your situation.

Budgeting and Staying in Control

Creating a simple weekly or monthly budget is the first step to taking control of your money.

Track your income and spending so you can see where your money goes.
A clear budget helps you stay in control and avoid surprises.
The Money Advice Service offers an easy‑to‑use budget planner: moneyadviceservice.org.uk/ccabudget.

Typical income items: wages, overtime, pension, benefits, child maintenance, other income.

Typical outgoings: rent/mortgage, council tax, utilities, insurance, car costs, food, clothing, entertainment, holidays.

Choosing the Right Loan

It’s important to choose the type of loan that meets your needs. Ask yourself:

How much do I need to borrow?
Over what period of time do I want to repay?
What will be the total cost of the loan?
Do I want to make repayments weekly or monthly?
How much can I realistically afford each time?

The UK credit market includes banks, building societies, credit cards, retail credit, home credit, savings clubs, and credit unions. For small amounts, an unsecured loan with fixed weekly, fortnightly or monthly repayments and no extra charges may be suitable.

Credit history: Some lenders may not lend if you have a poor credit record. You can check your rating with agencies such as Equifax, Experian, TransUnion, or Checkmyfile.

The Cost of Borrowing

Whatever type of credit you choose, ask:

How much am I borrowing?
Include any insurance, set‑up fees, or charges.
How much do I have to pay back?
This is the loan plus the cost of credit. Don’t rely only on APR—look at the total repayment.
Are there penalties if I don’t pay on time?
With home credit, extra interest does not build up, and repayments reduce your balance. Home credit companies normally don’t charge penalty fees for late or missed payments.

Repayment Options

Repayment methods vary between lenders.

With us, repayments are normally made by bank transfer, which keeps things simple, secure, and convenient.

If you have difficulty using online banking or need extra support, please let us know and we’ll talk through what we can do to help.

Paying Off Your Loan Early

If you choose to repay early, you may not always get the best value. There may be an administration charge. Home credit lenders apply the statutory formula when calculating rebates and cannot add extra charges.

Dealing With Repayment Problems

Many people face debt problems due to temporary or long‑term changes in income.

If you have difficulties:

Act quickly—don’t let things get out of control.
Contact your lender and explain the problem.
Be open about your situation and discuss options. Lenders may freeze repayments for a time or extend the repayment period.
Ignoring the problem could lead to legal action.

Independent debt advice organisations can help you:

Work out a repayment plan.
Draw up a budget and negotiate with creditors.
Respond if legal action is taken.

Free Help and Advice

You don’t have to face financial difficulties alone. These organisations offer free, confidential debt advice:

Money Advice Service – moneyadviceservice.org.uk – 0800 138 7777
StepChange Debt Charity – stepchange.org – 0800 138 1111
Citizens Advice – citizensadvice.org.uk – see local directory
Money Advice Scotland – moneyadvicescotland.org.uk – 0141 572 0237
National Debtline – nationaldebtline.org – 0808 808 4000
Payplan – payplan.com – 0800 280 2816

Complaints and Regulation

If you have a complaint about the way your lender has dealt with you, there are formal procedures:

Consumer Credit Association (UK) Ltd – ccauk.org – 01244 394760
Financial Ombudsman Service – financial-ombudsman.org.uk – 0800 023 4567

For full details on how we handle complaints, please see our Complaints Procedure.

Summary

Loans can help smooth out income and expenditure, but it’s important to budget, choose wisely, understand costs, and act quickly if problems arise. Support is available from lenders, and independent organisations.