Purpose of this policy

When entering loan agreements customers are not always aware of their financial resilience or may suffer unexpected or sudden changes in their circumstances preventing them from settling their loan commitment. It is important in these instances that we provide support that will be specific to the needs of our customer. All staff will make customers aware that regular part payments can be made during the period of the loan helping to reduce the interest and final settlement figure. These payments must be at the customers discretion and no payment plan will be implemented. On making a part-payments customers must be given a receipt and an update on
their loan.

We encourage our customers to advise us if they are facing difficulty in managing their loan. Our responsibility is not to judge but be supportive. We therefore will apply a staged approach to the support available.

Firstly, try to establish the reason or cause that has affected their ability to settle the loan if the customer is willing to explain. Alternatively we will try to establish when the customer feels they may be able to settle the loan.

Obtaining this information will assist us in deciding what support can be offered. There are several options available, some may require senior manager approval prior to be offered.

If you are having difficulty in managing your pawnbroking loan from Bluecroft then we invite you to contact our team to discuss this further.