Collections
The vast majority of our members pay their loan repayments in full and on time.
A small minority of members have delinquent accounts. This means that they have at least one overdue payment and have failed to adhere to the terms of their loan agreement. We have a responsibility to the membership to recover these overdue payments from those people.
If your loan account is in arrears, or you are struggling to make your repayments, it is crucial that you take action now to avoid negative consequences. Our collections department is here to help you settle your balance and find solutions that work with your situation.
We understand that occasionally, circumstances may happen that result in an account falling into arrears. However, it is your responsibility to address the outstanding debt promptly.
If you fail to address the arrears, you will make the situation worse for yourself and we will take action against you to recover the debt.
Why you should act now: Failure to resolve an overdue balance will result in action being taken against you.
Our preference is to deal with the situation amicably to find a mutually acceptable solution to the arrears. Failure to cooperate with our collections team to resolve the matter, will result in quick action being taken to recover the debt.
If you choose not to cooperate with our collections team in a meaningful way, this will result in actions that may include, but are not limited to:
Increased costs: Interest is added daily and will result in a higher amount to repay. Costs incurred by us to collect your debt will be added to the balance, e.g. legal fees.
Suspension of services: We will restrict your access to our services.
Credit score impact: We share data with credit reference agencies, and negative information is likely impact your financial future with other lenders too. Defaults will be recorded on your credit file for 6 years.
Legal action: Instructing solicitors to initiate legal proceedings to recover the debt.
Home visits: No-notice visits to your house to collect the arrears.
Attachment to your income: An application to deduct directly from your wages or benefits.
Ignoring an outstanding debt owed to CLEVR Money will not make the problem disappear. It is in your own interest to act swiftly, to resolve the matter and prevent any further escalation.
Don’t let an overdue loan to CLEVR Money get in the way of your financial happiness.
Contact our collections team now to agree a solution and avoid negative consequences.
Contact Collections
Collections Department
Email collections@clevr.money
Call 01253 478390 (option 2)
Usual Opening Hours
Mon – Thurs: 9am – 5pm
Friday: 9am – 4:30pm
Bank Holidays: Closed