Loans and credit

Common issues people have about loans and credit are: how much they owe, what to do when they are behind in payments, and the level of fees and interest they are payment.  See out information below, or for further help, contact us

Quick Answers

How can I find out how much I still owe on my loan and how this is calculated? 

Write to your provider to ask for copies of statements showing payments and any fees or interest which has been applied. You should then check these statements to make sure you understand any fees or interest and that they record all payments you have made. If you need any help with this, your local Family Budgeting Service or Citizens Advice Bureau may be able to assist you.

If you have any problems getting this information or disagree with the statements you should make a complaint to your provider.

I’m behind in my loan payments; can the IFSO Scheme help me?

Contact your provider and explain your situation. You may be able to ask for a payment holiday.

You could also contact your local Family Budgeting Service who provide free, independent and confidential assistance and can work with you to put together a repayment plan.

The fees/ interest that is being charged on my loan is too high; can the IFSO Scheme help me?

Check your loan agreement to see what interest rates you agreed to when you took out the loan. If you need any help calculating what the payments should be your local Family Budgeting Service or Citizens Advice Bureau may be able to assist. 

If you believe you are being charged too much interest, first make a complaint to your provider or call us on 0800 888 202 and we can discuss your next steps.

Case Studies

Search the case studies of complaints to the IFSO Scheme.