Estone Personal Credit Limited would like to make the process of applying for credit as simple and informative as possible. As such, we have anticipated some general questions you may have when applying for a cash loan, or home improvement product, and have tried our best to provide informative and transparent answers to these questions.
If you still have any additional questions please do to not hesitate to contact us on 0121-522-4687 and we will endeavour to answer your questions as quickly and as clearly as possible.
What is Home Collected Credit?
Home Collected Credit is personal and friendly service which can provide you with small, short term loans with affordable repayments. All transactions are completed in the comfort of your own home, and repayments are collected from your home on a weekly basis. This will be from one of our local agents who have many years experience of the home collected credit industry, and, as such understand the needs of our customers.
As we at Estone Personal Credit are a family run business, we have the capabilities to consider each customer on an individual basis, and because of this we can personalise our service to suit your own needs.
How much can I borrow?
We offer loans from £50 to £1000.
Can I still apply if I’m unemployed, a tenant or on benefits?
We consider all applications, and try to help people in different situations who can show that they are in the position to be able to meet repayments. Find out more here.
When do I start repaying the money?
Your repayments will start within 7 days after the loan has been issued to you. You will receive a personal payment card so you always know how much you owe, and you will have your own personal agent who will collect the money from your house on a weekly basis free of charge.
Are there any hidden costs?
Unlike other online lenders or credit card companies when you take out a loan with us there are no hidden costs. We do not charge any administration fees, or late payment charges.
What information do I need to apply?
When booking your home visit a representative will go through with you, in detail, what documents you will need during the application process. In summary you will need to provide us with:
- Proof of I.D.
- Proof of residency
- 2 consecutive forms of proof of income
- 1 months bank statements (if needed an underwriter may ask for up to 3 months)
- Consent so we can complete a credit reference check
Do I need a bank account?
No. You do not need a bank account in order to apply, or become a customer with Estone. Loans are delivered to your door in cash.
How long will it take until I receive my loan?
From when you first apply for a loan with us, to you receiving your loan, it normally takes 3 working days.
What happens if my circumstances change?
At Estone Personal Credit, we offer a friendly and sympathetic service if you have a change in your circumstances. We have experienced managers who are there to give you free help and advice on your budget without prejudice.
View our Debt Advice page for more information
What happens if I want to pay a lump sum off my loan?
If you wish to pay a lump sum off your loan you can do this by speaking to your local agent, this is called a partial settlement. A partial settlement can be seen as anything more than your weekly repayment value. If you decide to go ahead with a partial settlement you will then be given the option if you would like to reduce your weekly repayments, or reduce the number of weeks of which you have to repay. You will then be given a statement outlining the details of your partial settlement.
What happens if I want to pay my loan off early?
If you wish to pay your loan off early you can do so by speaking to your local agent or contacting our office to ask for your early settlement figure. You may be entitled to a rebate on the original interest charged.
Can I cancel my agreement?
Yes, you have the right to withdraw from your agreement for up to 14 days after the agreement was signed. You then will have 30 days to return the initial amount borrowed plus a daily rate of interest. To withdraw from your agreement you will need to speak to your agent or contact our office where they will supply you with a right to withdraw letter which will outline how much you owe plus the daily rate of interest for up to 30 days.
When can I apply for a new loan?
We believe in a responsible form of lending and therefore will not issue a new loan until your existing loan has run for a period of 10 weeks or more. Unlike other Home Collected Credit companies we do not believe in using a new loan to clear the balance of an existing loan. Therefore any new loan will be taken out to run alongside the existing loan if it meets the customer’s affordability.
What is my Credit Limit?
To determine your Credit Limit we will assess the affordability of the loan you have chosen. To do this, we will develop a credit limit that is a maximum you can use as a weekly repayment amount. This will be based on your income and expenditure and information received from a credit reference check. Please note we have a maximum credit limit set at 30% of a customer’s disposable income.