Credit Broker Responsibility
Cash Call will never:
- Charge you any fees
- Target those who are in financial difficulty
- Pressure customers to agree to loans which would not be suitable for their needs
- Share private data with unlicensed lenders
Cash Call guarantees we will:
- Only ever work with fully licensed lenders
- Ensure an unbiased and free service to match customers with loans
- Uphold industry best practices and promote an easy to understand service
- Maintain our customers’ privacy and use a secure application service
Please be advised that you:
- Should not apply if you are already struggling with debt
- Should take time to properly understand the loan agreement before signing to be sure you are happy with your loan and repayment amount/date
- Should only ever borrow what you can afford to repay and make sure you pay on time to avoid extra fees and interest.
If you have any doubts about the process please contact us at email@example.com or if you need financial guidance contact the Citizens Advice Bureau www.citizensadvice.org.uk for free advice.
Missing payments or paying late can cause serious financial problems. If you need help go to moneyadviceservice.org.uk
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You pay back: £352.80
Total loan cost: £72.80*
Treating customers fairly: Principle 6 states firms must endeavour to treat their customers and keep their best interests in mind and Principle 7 requires firms to be clear, fair and not misleading in all their communication with customers. It is vital, for example, that firms make sure their charging policy is clear and accessible.
Authorisation and consent: CONC 2.5 stops firms taking fees from any customer’s bank account without prior authorisation. The amount or most possible amount of the fee should be made clear as soon as is practicable possible.
Sharing of personal information: CONC 2.5 also prohibits firms from sharing customers’ personal data – this includes payment details – to third parties, without prior consent. When data can be shared, they are not allowed to share any information for any reason other than for the purpose which consent was given. Failure to protect these rights is likely to breach the Data Protection Act.
Advertising and marketing: CONC 3.3 states that any financial promotions (including websites) must be clear, fair and not misleading. Firms cannot be misleading about their identity or status. An example of this would be stating or implying that the firm is a lender when this is not the case.
Transparency of status: CONC 3.7 means brokers must make clear in financial promotions and other documents targeting customers their status. This must include the extent of their powers, the nature of the service they provide and any links with lenders.
Transparency of fees and commissions: CONC 4.4 is about fee disclosure and CONC 4.5 commission disclosure. Fees payable by the customer must be disclosed at an early stage and an agreement must be made in writing before a credit agreement is finalised. The disclosure must include how and when the fee is payable and whether a refund may be available.
Refunds: Section 155 of the Consumer Credit Act entitles the customer to a refund (less £5) of any brokerage fee if a credit agreement is not entered into within six months of an introduction to a source of credit, and CONC 6.8 provides guidance on this. A broker should respond promptly to any request for a refund.
NOTE: Cash Call is NOT a lender. Cash Call is a credit broker who refer clients to an external credit broker who has established relationships with over 40 sub-prime lenders. They compare your details with these lenders and their product, and quickly match your needs with the most suitable product for you.
Warning: Late repayment could cause you serious money problems. For help and advice go to moneyadviceservice.org.uk
When it comes to your data, we are clear in our pledge that it is 100% secure when you apply for a loan using our application form. Data protection registration ZA007304.
We also offer numerous alternatives to the short-term, one-month loan. We have worked hard to foster excellent relationships with all of our UK lending partners and this means we can help to locate the best deals for you.