Rollovers

If you would like to rollover your loan to the following month, we are able to arrange this for you. A rollover is a way of deferring the repayment of the capital borrowed. You still have to pay the interest on the agreed date and you will have to pay another months interest for the following month.

Rollovers are convenient, but you should think carefully before going ahead as a rollover does not reduce the amount you have borrowed.

We charge a small admin fee of £1.50 to process a rollover loan.

Payday Loan Debt Consolidation Plan

If you would like to consolidate all your payday loan debts into a single more affordable loan you will be interested in a Payday Loan Debt Consolidation Plan.

This is only available to existing customers of 1Month Loan, so if you want to take advantage of the plan, and you are not currently a customer, you will need to have taken out a loan and repaid it on time.

The plan: You can borrow up to £750 with repayments spread over 3, 4, 5 or 6 months. We will pay off your payday loan debts directly with the other lenders.

In order to take advantage of this offer, you will need to send in, by post, originals of:

1. Last three months bank statements

2. Last three payslip's

3. Two utility bills in your name

4. Photocopy of driving licence or passport

5. Details of which payday loans you have

You must sign a declaration to say that you will not borrow from another payday company until you have fully repaid your loan with us. If you are late with any payment you will revert to our standard rate of 30% per month and lose the VIP rate.

If you are an existing customer and wish to take advantage of this offer, please call 01284 717810 and ask for the Consolidation Team.

1 Month Loan

Whilst we may appear to be big loans machine, we are in fact, a company of people who do care about providing a loan at the most competitive rate we can afford. We have reduced our lending to the lowest rate we have ever offered. Why? Because we understand that the banks are being extremely cautious, credit card companies are cutting back and for a lot of people there is no where else to go.

What is a 1 Month Loan?

A 1 Month Loan is a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday.

Our loans help solve your temporary and potential cashflow problems, helping to avoid unfair overdraft or credit card fees and charges. 1 Month Loan customers have no need to discuss their situation with their bank or credit card company, and taking a loan with us avoids any unnecessary credit rating impact. 1 Month Loan can also help you avoid bank charges if you are running low on cash. For instance, the average UK bank charges around £30 per missed Direct Debit, with no limits as to the amount of times they charge you! A payday loan can help you avoid unnecessary charges.

A1 Month Loan means that you can apply for the funds you need now, without feeling as though you need to borrow unnecessary amounts of money, leaving you in control of your finances.

If you have a regular income that is paid into your bank account, a job and a debit card, you could have any amount between £75 and £750 transferred from our account to yours today. This does not mean it will be in your account today - some banks can take 3 days to credit your account. We do offer a service where for an additional £25 deducted from the loan we will CHAP's (same day transfer if before 2pm) the money straight into your account. This fee is exactly what we are charged by the bank for a same day transfer plus the cost of making the transfer. This charge is deducted from the loan so if you were looking to borrow £100 and need £100 and request the CHAP's transfer, you will need to borrow £125 to cover the CHAP's fee.

We respect your privacy and will not ask you what the money is needed for; there are no telephone interviews, although we will call you as a security check.

 

Fraud & Overdue Account

We do take fraud extremely seriously, and if it is discovered on any application we ensure that the police are involved. If any fraud applications manage to get through the system and receive a loan, but refuse to pay it back, we involve employers, bailiffs, county courts to recover our money. Please do not knowingly make a fraudulent application.

It is extremely important to pay your required balance on time. We charge compound interest on late or accounts in default which means that we charge our monthly interest charge on the amount owing not the original loan amount.

If you do find yourself unable to pay back the loan on time we will consider entering a payment plan with you. If we agree to a payment plan, we have strict rules that you will need to respect:

1. A signed Standing Order must be returned to us within 5 days

2. Your agreed initial deposit must be recieved within 5 days

3. The minimum repayment we will accept is £20 per month

4. We will not freeze interest, but we will reduce the interest to 10% per month

5. If funds become available you must pay off your outstanding balance

6. If you break the rules of the payment plan we reserve the right to take the full amount owed if it is available.