Frequently Asked Questions

We hopefully have answered your question below. If we have not please drop us an email, or call us during office hours, and we will try and answer your question as soon as possible...

Warning: Late repayment can cause you serious money problems.

For help, go to moneyadviceservice.org.uk


Q. I thought True Blue Loans was a Direct Lender?

A. Previously True Blue Loans has been a direct lender. We are currently making some massive changes to our systems and the products we offer. As a result of this we are not acting as a direct lender at the moment. Rather than simply take the website down, we have decided to continue to help customers with their borrowing needs by offering a Free of Charge, credit broking service. We have access to a panel of lenders who, if you complete an application with us, we will electronically ask to consider lending to you.


Q. I have borrowed from you before and paid back, can I get another loan directly with you? 

A. No, we are really sorry but while we make the changes we are not issuing any new loans at present. You can of course use our brokerage service and we will do our best to find you a lender that can help you.


Q. I have a current loan with you, how does this affect me? 

A. All currently active loans will continue to be managed as normal. Your payments will continue to be collected on the arranged dates using the payment method agreed. Our loans team is here as normal during office hours to help you in any way they can. Whether it is to update a debit card, make an overdue payment or advise us that you are experiencing financial difficulty, just call or email us using the details in the 'Contact Us' page. If you have a current loan, then this change will NOT AFFECT YOU in any way.


Q. Do you charge credit brokerage fees? 

A. NO, No, No -  we NEVER charge any brokerage fees for finding you a loan. Also, we never collect or pass your debit card details to any lender or broker we ask to consider your application. In the unlikely event that another broker or lender does ask you to pay a fee, this is entirely your choice. By applying with us you are under NO obligation to anyone any fees, so you can simply close your web browser and walk away at any time. We are however a Company and as such need to make money. We are therefore paid a commission directly from the organisation you are transferred to. This amount is variable and depends on the organisation concerned.


Q. What if I don't like the lender, broker or the loan offered? 

A. That is really simple...close your web browser and walk away. When we forward you to a lender or another broker, you are under no obligation to continue with the application. If you do not like what is offered you can stop the process at any time. If you do decide to continue you should read the information very carefully to make sure that you fully understand what they are offering. 


Q. So are you recommending the lender, broker or the loan offered? 

A. No. While we only search for loans through lender and brokers who are Authorised and Regulated by the Financial Conduct Authority (FCA), we are making no recommendation that the loan they offer is right for you or your circumstances, neither are we suggesting that a loan itself is right for you. We pass your details to the companies and they will decide if they think they can help you. It is then up to you, and them, to determine whether it is the right solution for you. If you need further FREE and INDEPENDENT advice in making this decision you should consider contacting the Money Advice Service -www.moneyadviceservice.org.uk - 0800 138 7777.


Q. What if I don't like the lender, broker or the loan offered? 

A. That is really simple...close your web browser and walk away. When we forward you to a lender or another broker, you are under no obligation to continue with the application. If you do not like what is offered you can stop the process at any time. If you do decide to continue you should read the information very carefully to make sure that you fully understand what they are offering. 

 

Q. Does the lender carry out credit checks?

A. The answer is almost certainly 'Yes' - Regulations require that lenders carry out creditworthiness and affordability assessments on all applications before granting the loan. As a responsible lender they are required to ensure that you can afford the loan you are considering. Many will carry out these checks before they decided if they want to consider the application further. This way, if they don't, we can try to find another lender straight away. Some may ask us to transfer you to their site and then when you arrive do these checks. Either way, you should read carefully our Privacy Policy and Terms & Conditions before you apply.

 

Q. What should I do if I have a mental health issue or cannot understand what is going on with my loan?

A. You must tell your lender BEFORE you take the loan. This is not as uncommon as you may think and surveys show 1 in 4 adults may experience such issues in a given year. The lender will not judge you and will not reject the application simply on the basis of this. They do however need to be aware of this so that they can carry out additional checks to ensure that you fully understand the loan and that they do not put you into a position that is likely to cause you harm or distress. You can speak to us about this too, however we will not be able to make decisions on behalf of the lender.

 

Q. Does it matter if I am not a homeowner?

A. No – many lenders do not require applicants to be homeowners.


Q. Does the nationality of applicant matter?

A. No – most lenders only require that you are living and working in the UK.


Q. Can I get a loan if I am between jobs / have recently left a job and don’t yet have another one?

A. This is a difficult one, some lenders will require you have been in a job for a period of time before they will lender. All we recommend is that you answer this question accurately on the application, so we can find a lender that matches you circumstances.

Q. What happens if I can't make a payment?

A. Lenders understand that people's personal and financial circumstances can change. If you feel you will not be able to make a payment you must talk to them. They may be able to reschedule the loan or help by reducing the monthly payments.


Please be aware that missed payments will be reported to the Credit Reference Agencies which may have a negative effect on your credit score. 


Q. Do lenders charge any fees for late payment?

A. Some do, others don't. Under the latest regulations Short Term Loan lenders are only allowed to charge a total of £15.00 maximum for late payment fees on any loan. Some charge these fees to cover their administration fees, other choose not to. If you think your payment will be late, the best thing to do is speak to the lender BEFORE the payment is missed.


Q. My payday or debit card details have changed

A. If your payday has changed, or you have a new debit card, please contact your lender to advise this otherwise a fee may be charged if the payment is missed.


Q. I have a question that has not been covered above, what should I do?

A. It is really important that you understand what you are doing when it comes to taking a loan. If you have a question that has not been answered, you should contact us. Details of how to do this can be found in the Contact Us page.

 

 

Warning: Late repayment can cause you serious money problems.

For help, go to moneyadviceservice.org.uk