Cash Converters offers a variety of services designed to help you when you have short term cash flow problems. Our services exist to allow you access to cash that you need, but which you can pay back in a short period of time and which do not tie you into a long-term commitment.
We want to provide you with the short term cash that you need, but that you can also afford to repay. We will always carry out an affordability assessment on both new and repeat customers.
We will not roll over or extend a loan product. Any new application will only be considered once the previous loan is repaid. We want to make sure that you can manage your borrowing; we are not interested in leading you into unmanageable debt.
The credit being sought is a short-term product, unsuitable for supporting sustained borrowing over longer periods. It would be expensive as a means of longer term borrowing and is unsuitable for you if you are in financial difficulty.
We will tell you up front what the total cost of borrowing an amount of money from Cash Converters will be. This will include the interest chargeable and any fees applicable. This total cost of credit will not change for the period of the loan. Additional costs may only be incurred if you do not repay the amount that is due.
The repayments due from you under your Cash Advance or Personal Loan will be taken using the debit card details you have given us from your nominated bank account, this is known as Continuous Payment Authority. We will only use this as set out in your Credit Agreement and you may cancel our right to take payments this way at anytime. If you cancel our right to take payments in this way you will still owe any outstanding amounts and will need to provide an alternative method of repayment.
If you have any questions about the repayment amount or schedule, please ask us, we want to make sure you understand all of the terms and conditions before using one of Cash Converters’ services.
Cash Converters is a member of both the Consumer Finance Association (CFA) and the Consumer Credit Trade Association (CCTA). The CFA and CCTA are membership organisations for businesses offering short term and longer term unsecured personal loans. Both Associations encourage the highest standards among its members and their staff in terms of transparency, customer service and responsible lending. In July 2012 they launched new customer charters, which sets out a series of new protections for customers borrowing short term loans, this sits alongside a further enhanced Code of Practice which all members have to comply with from 26 November 2012.
Cash Converters is a member of the National Pawnbrokers Association, the official trade organisation for the pawn broking industry. NPA members must abide by a code of conduct which ensures pawn broking services are operated within the law, to high levels of standards and within industry best practice.
We have information about the National Debtline available in all of our stores. National Debtline is a not for profit helpline, run by the Money Advice Trust, which provides free confidential and independent advice on how to deal with debt problems.
If you are worried about debt problems you can call National Debtline free on: 0808 808 4000.
They are open:
Monday – Friday 9am-9pm
You can also visit:
Or the Consumer Credit Counselling Service for advice and support