LiveLendGroup 2

Your Repayments

Can I stop getting monthly payment reminders?

So that we can keep you updated on when payments will be taken throughout your loan term, we email or text all of our customers three days before their repayment is due. 

This helps you keep track of your repayments and also lets you know about any changes that may affect your repayment date or amount such as:

  • If your repayment date lands on a Bank Holiday or a weekend (in this case, your repayment date will always be taken on the next working day)
  • If you’ve earned at least one reward (this means your loan rate will reduce and your monthly repayments will be less)

We believe it’s our responsibility to keep you informed about your upcoming payments so that it’s easier for you to manage your money.

If you want to change the way you get your payment reminders, you can update your preferences on the Account page when you’re logged in. If you’ve not selected your communication preferences, we’ll send you the reminders by text.

Can you send me a reminder before my monthly repayment is due?

Yes, so that we can keep you updated on when your payments will be taken throughout your loan term, we email or text all of our customers three days before their repayment is due. 

If you want to change the way you get your payment reminders, you can update your preferences on the Account page when you’re logged in. If you’ve not selected your communication preferences, we’ll send you the reminders by text.

If you’re not receiving these reminders, get in touch with us. 

How do I change my repayment date for my loan?

We recommend you pick a date close to the day you get paid as most of our customers find this easier to manage. You won’t be able to change your repayment date within the first 12 months of your loan.

If you really need to change your repayment date, please get in touch with us.

What happens if I want to make an overpayment on my loan?

You can make overpayments, to reduce the interest you pay on your loan by following these simple steps.

  • Log in to your account
  • Click Manage
  • Use the Make an overpayment section to make your monthly payment
  • Choose whether you’d like the overpayment to reduce your loan term or monthly repayment amount by ticking one of the following options:
    • ‘I would like to keep my monthly payment the same and reduce my loan term’
    • ‘I would like to reduce my monthly repayment and keep my loan term the same’

 Once you've made your payment, your account will be updated within a few days. The good news is that at LiveLend we don't charge you for making overpayments, or for repaying your loan early. So you save interest and pay your loan off quicker.

Can I decide what date of the month the payments leave my account?

When you apply for your loan, you can choose the date you'd like your payments to be taken from your account. We recommend you pick a date close to the day you get paid as most of our customers find this easier to manage. Depending what date you pick, your loan might start the following month.

I'm struggling to make my repayments, what do I do?

If you’re struggling to make your next repayment, or have already missed a repayment, don’t panic. It's important that you get in touch with us straight away so that we can help. 

We'll work with you to understand your situation and offer solutions such as a temporary reduced payment plan.

 

Can I pay more than my monthly repayment amount?

You can make overpayments anytime during your loan term by following these simple steps.

  • Log in to your account
  • Click Manage
  • Use the Make an overpayment section to make your monthly payment
  • Choose whether you’d like the overpayment to reduce your loan term or monthly repayment amount by ticking one of the following options:
    • ‘I would like to keep my monthly payment the same and reduce my loan term’
    • ‘I would like to reduce my monthly repayment and keep my loan term the same’

 Once you've made your payment, your account will be updated within a few days. The good news is that at LiveLend we don't charge you for making overpayments, or for repaying your loan early. So you save interest and pay your loan off quicker.

How can I find out how many loan repayments I have left to make?

To view your loan information, simply log in to your account and select Overview. Your 'Remaining term' is shown as well as your 'Loan to be settled' date.

Your repayment amount and date are shown at the bottom of the page under the Payments section. 

What happens if I miss a payment?

At LiveLend we won't charge you a fee. Ever. Not even if you miss a loan repayment. However, missing a repayment will result in you paying additional interest on your loan, and will have a negative impact on your credit score.

If you're struggling to make your next repayment, or have already missed a repayment, don’t panic. Please log in to your account, click on Manage, select Make your Payment and make your repayment by debit card.

Alternatively, if you're struggling to make your full repayment, please get in touch with us so we can help you.

I have missed a payment, what do I do?

If you’ve missed a payment by accident, please log in to your account, click on Manage and make a payment for your repayment amount by debit card.

If you’re struggling to make your next repayment, or have already missed a repayment, don’t panic. Get in touch with us so that we can help you.