LiveLendGroup 2

Your Repayments

When will my first payment be taken?

When you apply for your loan, you can choose the date you would 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.

If you've taken a loan, and forgotten what date you selected, you should log in and click on Overview. Your repayment date and history is available at the bottom of the page under 'Your Payments'. You can also find this on your loan documents, if you click on 'Messages'.

You can log in here.

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 into your account, click on Manage and Make your payment and make a payment for your repayment amount, via debit card. You can log in here.

Alternatively, if you're struggling to make your full repayment, you can get in touch with us here so that our expert team can help you.

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 six months of your loan. If you feel you really need to change your repayment date, please get in touch with our expert team here.

Why has a monthly repayment been taken after I've settled my loan?

If your usual monthly repayment date was due to be taken 3 working days or less after the date you settled your loan, we wouldn't have been able to cancel your Direct Debit in time. This means that your regular repayment would've been taken as usual but we'll refund the money back to you as soon as we can.

Get in touch if you'd like to speak to us about this.

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.

I’ve been affected by Coronavirus, how can you help?

As news of the Coronavirus develops, we hope you and your loved ones remain safe.

We understand that this is a really difficult time and there’s a lot of uncertainty. Don’t worry, we’re here to help. We have a number of different options we can offer such as taking some breathing space or temporary payment plans that can help make things more manageable.

We’re experiencing lots of contact right now, so we’re prioritising customers who are struggling with their upcoming repayment. If you’re not able to make your next repayment, please get in touch with us now. If you’re not yet impacted by the Coronavirus, we ask that you don’t get in touch with us just now. 

There’s also lots of free and independent advice available to help you manage other areas of your finances.

You can take advantage of this support by clicking the links below.

Money Advice Service
StepChange
Citizens Advice
MoneySavingExpert