Q. If you are Pacific Odyssey, who are True Blue Loans and Fidelity Works?
A. Pacific Odyssey and True Blue Loans are both trading names of Fidelity Works Ltd. It is all one part of the same organisation. Fidelity Works Ltd will be the lender regardless of which brand you apply through. Many credit card companies have a range of cards each with a different brand on them.
Q. Do you lend to people who do not work full time.
A. We only lend to people who are in permanent employment and meet our minimum income requirements. We will consider part time employed people as long as their salary is more than our minimum requirement.
Q. Are you a responsible lender?
A. Yes! – When we consider an application we want to make sure it is the right product for you and that you will be able to afford it. If we do not think this is the case we would rather decline the application than burden you with a loan you cannot afford. We extend our responsibility to look after those whose financial circumstances deteriorate after taking the loan too.
Q. Do you credit search me?
A. Yes, we need to be sure that the loan is affordable to you so we want to see what other credit you have and whether you are repaying this.
Q. If you don't charge a fee why has my bank told me that you have taken £2.00 from me?
A. We can promise you we have not taken any money from you. As part of our security checks we need to make sure that the debit card that you have supplied is valid and also belongs to you. In order to do this we conduct up to 2 'pre-authorisations' on the card of £1.00 each. By doing this we ask your bank to place a reserve on the funds in our name but the money remains in your account (although you cannot spend it). We have no intention of ever collecting these £1.00 amounts and so in about 5 - 7 days the reserve expires and the funds can be spent by you. (We got your consent to this in the Terms & Conditions that you agreed to when applying).
Q. Your rates table is great, but it says it is only an illustration. If I call you can you give me the exact figures for a loan?
A. No, not until you apply. As our loans have daily interest there are many things that will slightly change the cost and repayments on the loan. This includes the number of days until your first pay date and also the gaps between pay dates. When you have applied, and before you sign anything, we will give you the exact schedule of repayments…if you do not like them then you do not have to sign.
Q. What fees do you charge?
A. We charge no upfront fees at all. The only fee we charge is a missed repayment fee to cover our additional costs. This can be up to £12.00 but will not exceed the Cost Capping Regulation limits. Of course daily interest is applicable to the loan.
Q. I am currently suffering from depression and on antidepressants, some days my head is all over the place, do you need to know about this?
A. Yes. Under the credit regulations, this is defined, along with many other conditions as a ‘mental health issue’. This makes you a vulnerable borrower in the eyes of the Consumer Credit Act. This does not preclude you from getting a loan, but does mean we have to take extra care of you when assessing whether the loan is right for you.
Q. What happens if after I get my loan I can't make a payment on the due date?
A. If you are unable to make your repayment as scheduled we need to know about this. We have many ways that we can help you whether by delaying a payment or offering a rescheduled payment plan with lower monthly repayments. We are a responsible lender and responsible collector and do care about our customers, so want work with you to make sure that your situation does not get worse.
We promise not to get angry and we will show you respect at all times.
Q. These FAQ’s are great, but I have a couple more questions about the loan that I am unsure about, what should I do?
A. The answer is simple - Ask Us. Before you take your loan it is crucial you do not have any unanswered questions. If you do, please call us on 01440 730832 where we will be happy to answer them. Alternatively, drop us an email and we will respond with the answers.
Q. What if you decline my application?
A. If, during our automated decision making process, we are unable to proceed with the application we will try to find another lender who may be prepared to lend to you. If we are successful you will be redirected to their website. You will be under no obligation to proceed with them and we will not charge you for this introduction. If you do not want us to try to find you another lender if we are unable to offer you a loan please click here to go to a special version of the application form. If you are applying on one of our other brands you will be redirected to trueblueloans.co.uk to make the application.