Here at ElephantLoan we aim to provide customers with a clear understanding of the products they are applying for, and of the services we provide. ElephantLoan is an online loans broker and will attemnpt to match your application with one of a panel of lenders, aiming to give you a better chance of being accepted for the loan you require. We do not charge you any fee's for this service, however we may receive a fee from the lenders or brokers we introduce you to.
All lenders within our ping tree are sourced from reputable companies however we cannot vouch for every potential lender we offer our customers. Before you make your decision to take a lenders offer, please ensure that their company, company registration, CCL license and physical address is clearly illustrated at the bottom of the site.
Take a serious look at your incomings and outgoings over the next month before applying for a personal loan. If you can't afford one, it could end up being far more expensive then you first thought. Remember what you borrow this month will need to be paid back the next so make sure you do not enter a cycle of personal Loans.
It's entirely possible that you'll be expected to pay an extra charge if you miss a payment. It's almost certain that you'll need to pay further interest on the amount you already owe. This is further interest on the entire loan amount owed to that point, not just the original amount you borrowed. We always recommend repaying on time.
It may be possible to 'roll over' payments. The interest on this will likely be the same as on missed payments, however it may help you avoid penalty charges. We always recommend repaying on time.
If you find that you are repeatedly taking out personal loans (especially if you are constantly increasing the amounts), then you may be misusing them. Please consider independent advice and taking a serious look at your budget. There are companies who specialise in personal Loan debt solutions but please contact us if you need help.
You can get advice by going to the Citizens Advice Bureau, or the Government debt advice site. You can also go to an independent debt advice charity. None of these should charge you for debt advice or even to help you set up payment plans if necessary.
Implications of Late Payment: Depending on the lender we match you with, should you fail to make the repayment within 24 hours of its due date you will be charged a set amountto be added to your account. Other charges may be applicable to this agreement depending on the lender but below are some of the scenarios we have seen in the past.
Implications of Non Payment: Should your account continuously remain non-paid then: