Money worries

The best thing that you can do if you are worried that you will miss a payment is to contact us as soon as possible. You can fill in our contact form, email us at loans@lendology.org.uk or call us on 01823 461099.

We can discuss your situation and arrange for an appropriate solution for your circumstances.

We can arrange for payment breaks or reduced repayments to support you in the short and long term to get you back on track.

We are always more than happy to liaise with a debt advice organisation on your behalf, such as StepChange.

We understand that sometimes life is unexpected, and you may miss a payment because some money did not arrive in time or an extra payment came out of the blue. If it’s the first payment you’ve missed (or the first for a while) our first step is to contact you regarding an automatic recall of your Direct Debit. If the date is still not right for you, don’t worry, we give you time to contact us and request a later date or alternative arrangements.

If it’s due to a long term change in your circumstances, we strongly encourage you to contact us as soon as possible to make appropriate adjustments to your loan such as a payment break or reduced repayments.

We are sorry to hear about your loss. Please contact us for details of the next steps. If there are no remaining borrowers, interest on the loan will be frozen for 12 months to allow probate to be progressed.

Life Ledger is a free service that Lendology have subscribed to. This service enables executors to upload a death certificate once and notify 1,000s of organisations across the UK.

If you are a joint borrower and your financial circumstances have changed due to the loss of a significant other, please do contact us. By understanding your situation, we can offer tailored support, and, in most cases, there will be an option and the flexibility to help. To speak to one of our team, please contact us.

We are here to help and we understand that people’s circumstances can and do change. We will work with you so please do not worry alone about your Lendology loan. Contact us and a member of our team will be in touch with you.

See our Managing your money page.

Money problems can be incredibly stressful, causing anxiety, depression, and other mental health issues. WE understand that mental health struggles might lead to impulsive spending, poor financial decisions, or difficulty managing finances effectively.

We aim for our lending to support mental wellbeing, by fixing leaky roofs, replacing boilers and funding replacement windows amongst many other works.

Sometimes circumstances beyond our control cause our money situation to spiral out of control and cause us significant stress. If you are reading this and that is how you are feeling, please reach out to organisations such as the ones below to support you.

• mind.org.uk
• moneyadvicetrust.org.uk
• nhs.uk/live-well

If you are worried that you have a mental health problem and that would cause you to be turned down for a loan, please be assured that we make our lending decisions based on your overall financial position. You do not have to disclose your mental health to us, but we would encourage you to be open as it will allow us to support you better with the strictest of confidence and no judgement.

Support that you need may be as simple as asking us to email you because you do not like speaking over the phone, or to contact you at a specific time.

We understand that borrowing money can feel daunting. We are more than happy to talk to any support workers or family members you authorise us to speak with to support you and make the best decision for your circumstances.

If you officially lack capacity to make decisions, we can speak with your appointed Power of Attorney and may still be able to support works to your property with a loan.

Financial abuse involves controlling your access to money or resources. It could be a family member, partner, or friend.

They make take your money and/or restrict your access to it, stop you working or put you in debt. They may ask you to take out loans in their name, ask for sums of money that they never repay or pressure you to change your will. They maybe living in your home and refusing to contribute to the bills.

If you feel you may be experiencing financial abuse, you can contact Refuge here: https://www.nationaldahelpline.org.uk/

You can also contact us for support and ask for us to contact you in a specific way or at a specific time.

If you’re worried an abuser may be monitoring you, close this website and delete it from your browser history – Refuge explain how to do this here: guide to browsing safely.

We also work with Stop Loan Sharks to report illegal money lenders, many of whom also pose as your friend. You can also report a loan shark on their website www.stoploansharks.co.uk.

Lendology are committed to providing support to you to allow you to decide whether one of our loans is right for you.

We have several services that can support you including:

• Our partnership with SignLive to use a live BSL interpreter
• Ability to apply for a loan via email, our website or over the phone. We can also support you by using text messages to correspond and are happy to correspond using post.
• Large print
• A home visit to support you with the financial assessment
• Ability to nominate someone to support you with your application and on an ongoing basis
• Working in partnership with your Occupational Therapist or Case Worker
• Referrals for additional support to our partner organisations including your Local Council and Devon and Somerset Fire Service.