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I am a current customer but my outstanding loan balance is less than the amount of redress I am owed.

FAQ – Administration I am a current customer but my outstanding loan balance is less than the amount of redress I am owed.

I am a current customer but my outstanding loan balance is less than the amount of redress I am owed.

18th February 2022

If your outstanding loan balance is calculated to be less than the amount of redress that you are owed then we expect your loan balance would be reduced to nil. However, until this is confirmed in writing it’s important that you continue to make repayments. This can have a positive impact on your credit score and is part of your contract. Payments made will be held in a separate account by the Administrators and refunded to you should the redress owed to you be greater than your loan balance.

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Broom House, 39 – 43 London Road, Hadleigh, Essex, SS7 2QL, Company Registered in England No. 6542065.

TFS Loans Ltd is authorised and regulated by the Financial Conduct Authority. 724439

 

Loans are subject to status and affordability. *Consolidating debts may increase the term and the total amount payable.

Before entering into any credit agreement please make sure you can afford the monthly repayments, we recommend that you seek independent advice if you are unsure of any of the terms of our agreement. There may be other taxes or costs, not paid through us or charged by us, that you have to pay in connection with the agreement.

Late repayments can cause you serious money problems. For help go to www.moneyadviceservice.org.uk

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