SmartPig.com Expanded FAQ and Help Contents 1.0. APPLYING FOR A LOAN... 4 1.1. Can I apply for a loan by telephone?... 4 1.2. My application has been provisionally approved What happens now?... 4 1.3. Why has my loan application been declined when I have had and repaid a loan before?4 1.4. My application has been approved but I have not yet received payment can I cancel my application?... 4 1.5. When will the money arrive?... 5 1.6. How long do I have to wait after repaying a loan in full before I can reapply for a new one?... 5 1.7. My application has been declined because my card wasn't authorised. What does this mean?... 5 1.8. Can I change how much I have applied for once the application is completed?... 6 1.9. Once I have repaid my loan, how much more can I apply for?... 6 1.10. I only have a credit card am I able to apply?... 6 1.11. I applied on another site and was told I was accepted. I have never used Smart-Pig before what happens now?... 6 1.12. I have accepted the terms and conditions of the loan, can I cancel?... 6 1.13. My address is invalid when submitting an application how do I solve this?... 7 1.14. I don t have a copy of my payment timetable from the student loan company what do I do?... 7 1.15. I have forgotten my SLC login details for recovering my Payment Timetable letter.... 7 2.0. ACCOUNT... 7 2.1. Can you delete my account so I can apply with a new email address?... 7 2.2. Can I borrow more if I already have a loan with you?... 7 2.3. I have forgotten my password. What do I do?... 7 2.4. Why can t I extend my loan anymore?... 7 2.5. How do I change my debit card details?... 8 2.6. Can I delete my card details from your site?... 8 2.7. Can I see my account history?... 8 2.8. Can I extend my loan?... 8 2.9. Can I extend my loan if my promise repayment date has passed?... 8 2.10. I do not have access to my old email address so cannot recover a password. What do I do now?... 8 1
2.11. I have had additional funds previously, why can I not apply for it now?... 9 2.12. How do I update my bank details?... 9 2.13. Can I view my past transactions?... 9 2.14. I cannot remember the email address that I applied with, what do I do?... 9 2.15. Can I borrow more funds whilst I am in arrears?... 9 2.16. I have been locked out of my account, how do I unlock it?... 9 2.17. I have a new email address, how do I update this?... 9 2.18. Why are you offering to lend me less than last time I borrowed?... 9 2.19. I have recovered my password but the system will not accept it when I enter it, what do I do?... 10 2.20. I have a loan that is due for repayment and I want to update my bank details, but I cannot do this online?... 10 2.21. Why have I been locked out of my account?... 10 2.22. I am trying to recover my password but I am having problems. What do I do?... 10 2.23. I have recovered a password but I still have not received any email, what do I do?... 10 2.24. I'd like to know how much I owe and when it's due for repayment. How do I check these details?... 10 3.0. PAYMENTS... 11 3.1. My circumstances have changed and now I can t pay my loan back in full/as I agreed, what can I do?... 11 3.2. I m worried about calling you... 11 3.3. What if my student loan payment is late?... 11 3.4. I m entering a debt management plan, who do I tell?... 11 3.5. Can I repay my loan early?... 12 3.6. I have repaid my loan but it is still showing that I have an outstanding balance with you. Why is this?... 12 3.7. What are my available repayment methods?... 12 3.8. Can I repay my loan using a credit card?... 12 3.9. My loan is due but I have lost my debit card and am awaiting my new one to arrive, what do I do?... 12 3.10. My loan has been repaid in full but instead of taking the one payment you have taken my repayment in multiple transactions. Why is this?... 12 3.11. I missed my promised repayment date, do I incur any fees?... 13 3.12. How long before I have to repay a loan?... 13 3.13. What happens if you cannot take the payment from my debit card?... 13 3.14. Can I make partial payments towards my balance any time with no additional cost?.. 13 2
3.15. I have just repaid my loan, when will my account update?... 13 3.16. I have received a Notice of Assignment from a debt collection agency, what does this mean?... 14 3.17. Why is my balance going up so quickly?... 14 3.18. What do I do if I believe that I did not receive my payment within your same day if approved before 3pm guarantee?... 14 3.19. I have just received details of a settlement offer. What does this mean?... 14 3.20. How much can I borrow once I have repaid my loan?... 15 3.21. What time is the repayment taken?... 15 3.22. Can I pay by direct debit?... 15 3.23. How do I repay a loan?... 15 3.24. I have repaid my loan but I have not received the Thank you email.... 15 3.25. What's the easiest way to pay?... 15 3.26. I have repaid my loan but it isn t showing on my bank statement.... 15 4.0. MISCELLANEOUS... 16 4.1. Were you really founded by Students?... 16 4.2. What is your contact number?... 16 4.3. What is your email address?... 16 4.4. Why do you want to see my Student Loan Payment timetable?... 16 4.5. What are your opening hours?... 16 4.6. What if I have bad credit?... 16 4.7. What do I need to get a loan with Smart-Pig.com... 16 4.8. Do you send any post to my house?... 16 4.9. What is your postal address?... 17 4.10. I have received a letter in the post for someone that is not at this address, what do I do?... 17 4.11. How much cash can I borrow?... 17 4.12. Do I need a bank account?... 17 4.13. Do I need to give a reason for my application?... 17 4.14. How much does a loan from Smart-Pig.com cost?... 17 4.15. What personal information does Smart-Pig need?... 18 4.16. How does Smart-Pig.com work?... 18 5.0. LEGAL... 18 5.1. What if I have a complaint?... 18 3
5.2. I want to cancel my Smart-Pig.com account and to delete all my details from your site, how do I do this?... 19 5.3. Are my personal details shared with any 3rd parties?... 19 5.4. Is Smart-Pig.com a member of any financial bodies?... 20 1.0. APPLYING FOR A LOAN 1.1. Can I apply for a loan by telephone? Sorry we only accept applications through our online system. This lets us deal with you application more quickly, lets you use our service outside of office hours, and is ultimately more secure. 1.2. My application has been provisionally approved What happens now? We make various checks and then either fully approve or decline the application. Applications are processed within 1 hour during office hours, and usually much quicker. On Saturdays and Sundays we try to assess all applications as soon as possible and process them in batches throughout the day. Application made before 5pm will be processed the same day but there is no guarantee as to how quickly they will be processed. 1.3. Why has my loan application been declined when I have had and repaid a loan before? We d like to thank you again for borrowing from us in the past with no problems! If you have been rejected this time around, you should have received an email with a reason. If you think that the data you entered was erroneous for example you think you uploaded the wrong payment letter by mistake then you should resubmit your application with the correct details. If your details were correct and you were still rejected, then our decision will stand. As a responsible lender, we make a number of checks on your financial health as part of the application process, in order to make sure that our customers can afford our loans. As a result, we can never guarantee that you will be accepted for a loan even if you have a good history with us. Note that we cannot reverse a lending decision over the phone. We apologise for any inconvenience caused and hope that we can help you again in the future. Every application is assessed individually rejections do not affect future applications so come back to SmartPig whenever you need him! 1.4. My application has been approved but I have not yet received payment can I cancel my application? You can attempt to cancel your application but there is a very limited time window for this and we cannot guarantee success. Once payment has been sent your loan cannot be cancelled. If you do 4
still wish to cancel your application please email applications@smart-pig.com with CANCELLATION in the subject header. 1.5. When will the money arrive? Once a loan is approved, the money is transferred using the "Faster Payment" service, which takes between 1 hour for new customers or very quickly for returning ones. However, we make payments in batches periodically, so we can't say exactly when it will be paid. However, if your loan is approved before 5pm, you should receive your payment within 2 hours of the approval (and often much sooner!). After 5pm you will still receive the money the same day, but it may take slightly longer. Applications made after 10pm may be paid the following day. We're excited to announce that soon we are upgrading our payment system to pay loans very quickly during all hours! On Saturdays and Sundays application made before 5pm will be paid the same day but there is no guarantee as to how quickly they will be processed. We try to assess all applications as soon as possible. If your bank is not subscribed to the "Faster Payments" service your loan will be paid by BACS, which takes up to 3 working days. All major UK banks accept "Faster Payments". If you can t see the payment going through then it could be down to one of three things: Some small banks don t use the faster payments facility 24 hours. If you bank with one of these institutions you will probably see the money in your account the following day. Sometime banks take a while to show you how much money is in your account particularly through the ATM network and online banking. You should contact your bank if you are unsure. Finally, it could be that we have had a technical issue with your systems. In this unlikely event you will be notified and we will fix the problem as soon as humanely possible. In this case always wait until the next working day has passed before contacting us at applications@smart-pig.com 1.6. How long do I have to wait after repaying a loan in full before I can reapply for a new one? It can take a while for our systems to receipt of your payment to us. Once you have the thank you email you should be able to borrow again, but we would be worried if you took up the offer! SmartPig is a service designed for occasional use if you find yourself in a situation where you are rolling over short term loans seek independent financial advice see Responsible Lending on our website. 1.7. My application has been declined because my card wasn't authorised. What does this mean? We check your card and bank details when you apply and pre-authorise a small payment of 1p to register your card on our systems. This isn t charged, the 1p is just reserved for a few days. If your card is declined during this transaction then your application will be rejected. Reasons for rejection could be: 5
Zero balance in the account Incorrect card or bank details note that the card must be registered to either the home or Uni address given in your application. Fraud prevention purposes some banks do this with a message Do Not Honor. 1.8. Can I change how much I have applied for once the application is completed? If your loan has not yet been approved, and you would like to apply for a different amount, you should try to cancel the application. If the application is cancelled in time you can then resubmit an application with the correct details. There is a very limited time window for cancellations and we cannot guarantee success. Once payment has been sent your loan cannot be cancelled. If you do still wish to cancel your application please email applications@smart-pig.com with CANCELLATION in the subject header. 1.9. Once I have repaid my loan, how much more can I apply for? Once you ve repaid you first loan with no problems, you ll be able to apply for a larger sum next time. This could vary between individuals depending on their circumstance and our system settings. As a responsible lender we can never guarantee that your next application will be successful, and we never promote our loans in a way that encourages frequent use. Once you are logged in, you can use the loan calculator on our homepage to see how much money you can apply for. Note that if you are not logged in you will be treated as a first-time customer. Please note that the amount that you can apply for may go up, down or remain the same. 1.10. I only have a credit card am I able to apply? You must have debit card in order to apply for a loan with us. Accepting a payment by credit card is not a responsible lending practice. If you attempt to borrow from us using a credit card the application will be rejected automatically. 1.11. I applied on another site and was told I was accepted. I have never used Smart-Pig before what happens now? It is possible that you applied on a comparison website. The application you filled in was not affiliated with us and you will need to apply on our website. If you received an acceptance notification it was not for one of our loans, but an acceptance of the details you entered. We recommend against using these sites as you are giving out your details unnecessarily always come to Smart-Pig direct. We can never guarantee your acceptance for a Smart-Pig loan. 1.12. I have accepted the terms and conditions of the loan, can I cancel? You have the right to withdraw from the credit agreement before the end of the period of 14 days beginning from the day after which your application was approved (not pre-approved). You must notify us by telephone on 0845 5199 104 or in writing to applications@smart-pig.com to cancel the agreement. You will also be required to repay the loan amount that was sent to you as well as any interest that had accrued from the date the loan was provided to the date of repayment. 6
You can repay your loan in full at any time, which will have approximately the same effect as cancelling the agreement. You can do this from My Account. We also accept partial payments. 1.13. My address is invalid when submitting an application how do I solve this? Please enter only your house name or number in the first box, before entering your postcode in the postcode box. If your address is being rejected it is likely because you are submitting it in an incorrect format. Using exactly the same address format as used by the Royal Mail should solve the problem. You can find out the correct format using the Royal Mail s online postcode finder. 1.14. I don t have a copy of my payment timetable from the student loan company what do I do? You can retrieve the document in minutes online by logging in to the SLC website. Follow the instructions on our website. 1.15. I have forgotten my SLC login details for recovering my Payment Timetable letter. Simply follow the instructions on the SLC website. We are not affiliated to the SLC and have no access to their systems. Their website is clunky but it does work! You will need your SLC login details for other reasons aside SmartPig, so make sure you note them down are store them in a safe place! 2.0. ACCOUNT 2.1. Can you delete my account so I can apply with a new email address? You can change your email address without having us delete your account through My Account. You will need to login with your old email address and then follow the instructions. You will need to validate your new email address. 2.2. Can I borrow more if I already have a loan with you? Yes you can apply to borrow more up to the limit available to you, but for no longer than your currently outstanding loan. Log in and then apply in the same manner in which you took out the original loan. Note that we can never guarantee that loan application will be accepted and this applies to taking out subsequent loan also. 2.3. I have forgotten my password. What do I do? You can recover a new password online at the login page by clicking 'Recover your password'. The password will be sent to your registered email address. 2.4. Why can t I extend my loan anymore? 7
We let our customers extend their loan as many times as they like up until their next student loan payment date, but no further. This is because that loan payment is our assurance against default. As a responsible lender, we would never allow you to extend beyond this date SmartPig s loans are a short-term solution to a short term problem, so letting them overrun is a bad idea. In order to avoid going overdue and incurring further costs, you will need to ensure that the funds are in your account on your promise date or pay the debt in full manually through My Account. 2.5. How do I change my debit card details? You can either change them the next time you apply for a loan, or visit My Account and the card details. If you currently have a loan outstanding with us and know that your card details are no longer valid, you should update your card details and repay the debt manually no later than the promise date by visiting My Account. Remember that when applying for a loan, the card must be in your name and be registered to either your home or university address. Additionally there should be a balance of at least 0.01 in the account, which we debit as part of the verification process. 2.6. Can I delete my card details from your site? Once you have submitted a card during the loan application process, we have access to the details until you submit different details during your next loan application. 2.7. Can I see my account history? In My Account, you are able to see the details and status of past and outstanding loans. A full history of account activity is not available. 2.8. Can I extend my loan? You are able to extend your loan as many times as you like as long as the promise date does not overshoot your next student loan payment date. You can do this online by logging in to My Account and then viewing your loans. 2.9. Can I extend my loan if my promise repayment date has passed? You are able to do this as long as the SLC student loan payment date that applies to this loan has not passed. This will prevent attempts being made to take the funds from your account. If the student loan payment date has passed then you will be unable to extend your loan further. Furthermore, if you miss your new promise date you may find that you incur our penalty fees a second time. If you cannot repay your loan in full, contact us as soon as possible by emailing collections@smartpig.com for assistance. 2.10. I do not have access to my old email address so cannot recover a password. What do I do now? You should have two email addresses on file with us, so you can get the password recovery sent to the second address. If there is still a problem contact us at technology@smart-pig.com 8
2.11. I have had additional funds previously, why can I not apply for it now? We can never guarantee any loan will be approved, regardless of your previous history with us. There is a limit to how much you can borrow from us at any one time. 2.12. How do I update my bank details? These details can be changed the next time you make a loan application. 2.13. Can I view my past transactions? In My Account, you are able to see the details and status of past and outstanding loans. A full history of account activity is not available. 2.14. I cannot remember the email address that I applied with, what do I do? You do need to remember the email address you applied with in order to log into your account or apply for a loan. You may be able to attempt a login with your university email address. We're sorry but we cannot give you any further information but please understand that this is for the security of your own account. Please call us on 0845 5199 104 9am 5pm Monday to Friday so we can assist you further. 2.15. Can I borrow more funds whilst I am in arrears? No we are a responsible lender. Once you have defaulted on your loan payment you will not be able to borrow from us. You can make a full or partial payment at any time by visiting My Account. 2.16. I have been locked out of my account, how do I unlock it? Your account will remain locked for a short period and then you'll be able to make another attempt. Once locked out you will need to recover a new password and log in using it. 2.17. I have a new email address, how do I update this? Log into My Account at any time and update your email from there. You will need to validate the new address. Once you have done this you will be able to use your new email address. Note that we store two email addresses for each customer a personal email and a university.ac.uk email. 2.18. Why are you offering to lend me less than last time I borrowed? SmartPig is a responsible lender. This means that we have many checks and balances to make sure that our service has as little chance of possible of getting our customers into financial difficulty. We can never guarantee the maximum credit available to you, regardless of your history with us. As well as the human factor, SmartPig has many different parameters governing our loan applications that can change frequently. Or maybe we have just run out of money to lend you! Remember that you must pay of your loan in time without incurring any penalties in order to raise the borrowing limit on your account. If you act responsibly, we may be able to trust you with a larger loan in the future. 9
2.19. I have recovered my password but the system will not accept it when I enter it, what do I do? You may have entered the password incorrectly. The password is case sensitive. Therefore all upper case letters must be inputted in upper case and vice versa. You must also type it in, rather than cut & paste it from an email. Once you log in with the recovered password you will be prompted to update your password. Follow the instructions to create a secure password. 2.20. I have a loan that is due for repayment and I want to update my bank details, but I cannot do this online? If you currently have a loan outstanding with us and know that your card details are no longer correct, you should repay the debt manually no later than the promise date by visiting My Account. You can enter the new card details there are you would when making any other online purchase. 2.21. Why have I been locked out of my account? If your account is locked it's because your security questions were not answered correctly while trying to recover your password. These fraud-prevention measures are in place to protect your details. Your account will remain locked for a short period and then you'll be able to attempt login again. You will need to remember the answers to the security questions and then recover a new password. There is one other situation in which you will find yourself unable to login: if have a reached bad debtor status and you are no longer able to use our service. If you have a loan outstanding with us you should receive notice soon that your account has been passed to a third party. 2.22. I am trying to recover my password but I am having problems. What do I do? We will be unable to let you log into your account without verifying your identity for security reasons. Please follow the online instructions and if you have further problems, please call us on 0845 5199 104 if you need further assistance. 2.23. I have recovered a password but I still have not received any email, what do I do? If you have not yet received your password recovery email from us it is likely that it is in your spam/junk/bulk mail box, please check in there for our email. If you cannot see it there, it is possible that our email was blocked altogether. Try adding our technical email address technology@smart-pig.com - to your contacts list/address book. This will prevent our emails from being seen as spam. You will now need to recover another new password. 2.24. I'd like to know how much I owe and when it's due for repayment. How do I check these details? You can check this information at any time by logging into our site and going to My Account. This will show you a summary of your past and present loans with us including the amount you owe and 10
your promised repayment date. You will also have the option of extending your loan or paying back early in full or in part, without any extra cost. 3.0. PAYMENTS 3.1. My circumstances have changed and now I can t pay my loan back in full/as I agreed, what can I do? The best way of dealing with this situation is to repay as much of your balance as you can as quickly as you can. Failure to repay a loan on your promised repayment date could have an impact on your credit rating and will incur further interest and charges. You can make a payment in full or in part at any time by logging into My Account, viewing the loan and following the instructions. 3.2. I m worried about calling you There is no need to worry the call will certainly make things better for you. If you are having problems then communication is key to getting things sorted. Out collections team is understanding and fair and knows the pressure of a student life and budget. We will want to reach a solution that makes sense for both of us, which means repaying your loan in the shortest possible timeframe but in a manner that is manageable for you. 3.3. What if my student loan payment is late? If your student loan payment is a few days late our systems will take this into account and you will not be charged a penalty fee. Interest will continue to accumulate over a few days, however. This is the only situation in which a penalty fee will be waived, as defaulting on your account is a serious business. If you default on your SmartPig loan due to your student loan being delayed by more than a few days, you will be in breach of your credit agreement and will incur a penalty charge. 3.4. I m entering a debt management plan, who do I tell? If you are having a debt management firm make a repayment proposal on your behalf, then please ask your debt management company to send any correspondence to our specialist debt management team. You will have 38 days from the date that we are informed you are entering a debt management plan to gather all the necessary documentation. Contact us using collections@smart-pig.com Alternatively, if email cannot be accessed, our address is: Collections, FCL (UK) Limited, 7 Clarendon Place, Leamington Spa, CV32 5QL Our team will need to assess the proposal, so please include the following information: Current income (this includes any source of income including any benefits, statutory sick pay etc.) Details of all your current financial obligations (this includes your rent, phone bill etc.) 11
Details of your current expenditure We may require documentary evidence to back up the information in your proposal. 3.5. Can I repay my loan early? Of course! You may repay your loan early in full or in part at any time by logging into My Account, viewing the loan and clicking repay'. You can make the payment as you would any other internet card transaction, but you must use a debit card. Interest accrues on a daily basis and there are no hidden fees, which means that repaying your loan early will save you money, and you may be able to borrow more next time! 3.6. I have repaid my loan but it is still showing that I have an outstanding balance with you. Why is this? If you have recently repaid your balance it can take up to two hours for your account to update. If it has definitely been longer than one hour please contact us at care@smart-pig.com 3.7. What are my available repayment methods? When you borrow money from us, you agree to repay your loan using the debit card whose details you applied with. If there is a problem with this card we strongly suggest you pay the debt manually using a different debit card at any time by visiting My Account. You can change your debit card details either the next time you apply for a loan, or by visiting My Account and then card details. If you are continuing to have problems we may be able to arrange other repayment methods contact us on 0845 5199 104 or email collections@smart-pig.com 3.8. Can I repay my loan using a credit card? No as a responsible lender we do not accept credit cards as a form of payment. 3.9. My loan is due but I have lost my debit card and am awaiting my new one to arrive, what do I do? When you borrow money from us, you agree to repay your loan using the debit card whose details you applied with. If you have lost this card and are waiting for a new one, you can change your debit card details by visiting My Account and then card details. TO make sure your loan is paid on time, you should pay the debt manually before the due date by visiting My Account. If you are unable to do this we may be able to arrange other repayment methods contact us on 0845 5199 104 or email collections@smart-pig.com 3.10. My loan has been repaid in full but instead of taking the one payment you have taken my repayment in multiple transactions. Why is this? If the full transaction is declined by your bank when we attempt to collect your promised repayment, our automated system will then request payment for smaller amounts at regular intervals until the balance is cleared. This is to ensure your balance is cleared as agreed. If we are able to clear the total balance on your promise date then you will not incur a default fee or any other costs. Note that we may continue to make attempts to take the money after the promise date, as detailed in our Terms and Conditions. 12
3.11. I missed my promised repayment date, do I incur any fees? We attempt to collect the promised payment early on the date you chose. If the payment fails (is declined by your bank due to insufficient funds) we will attempt to contact you and also to collect further payments to recover the amount you owe, as outlined in your Loan Agreement/Terms and Conditions. If we have failed to collect the full amount by the end of your due date, a one-off 25 failed payment fee will be added to your balance. Interest will also continue to accrue on a daily basis, at the same rate, against any outstanding balance. If your student loan payment date (from your Payment Timetable) has not yet passed, you may extend your loan by logging into My Account in order to prevent the penalty fee kicking in until your new promise date. 3.12. How long before I have to repay a loan? We attempt to take the payment on the promise date you choose when making your application! You can borrow for up to 90 days or until your next student loan payment whichever is sooner. You must think carefully about whether you will be able to afford the charges on your promise date. The loan calculator will make this process as simple as possible though. Interest is applied each day, so the longer you borrow for the more your will have to repay. If you want to review the current balance on an existing loan, log in to My Account to view details of your past and present loans. You can also pay early in full or in part at no extra cost to save you some money, or extend the terms of your loan. 3.13. What happens if you cannot take the payment from my debit card? If the full transaction is declined by your bank when we attempt to collect your promised repayment, our automated system will then request payment for smaller amounts at regular intervals until the balance is cleared. This is to ensure your balance is cleared as agreed. If we are able to clear the total balance on your promise date then you will not incur a default fee or any other costs. Note that we may continue to make attempts to take the money after the promise date, as detailed in our Terms and Conditions. If we are unable to clear the full balance on your account on your promised repayment date, then you will incur a penalty charge. If the cause of default was a late student loan payment, our systems will take this into account and there may be a few days leeway in the application of the charge. 3.14. Can I make partial payments towards my balance any time with no additional cost? Yes, you can do this easily at any time by visiting the My Account page. Any partial payment may take up to 48 hours to show up on your account. 3.15. I have just repaid my loan, when will my account update? During busy periods it can take up to 24 hours for your account to update and the balance to be shown correctly. If after 24 hours, your balance remains the same, then please contact us on 0845 5199 104 between the hours of 9am and 5pm Monday Friday. 13
3.16. I have received a Notice of Assignment from a debt collection agency, what does this mean? Smart-pig.com will always try to resolve debt matters directly with customers; we encourage customers who are facing financial difficulties to contact us. However, if communication cannot be made with a customer for a certain length of time, we will pass on your debt to a debt collection agency. All communication relating to the debt must now be directed to them. Please contact the firm that has been assigned the right to collect your debt using the details provided in the letter from the debt collection agency. 3.17. Why is my balance going up so quickly? When your account is in arrears, your balance will continue to accrue interest charges on a daily basis, at the same rate we applied to the original loan. The quickest and easiest way to avoid getting in to arrears is to use our extension service, you should use this if you know that the money due to be collected will not be available. You should try to pay your arrears as soon as possible through the My Accounts page. If you are unable to settle your account right now, we want to help you by agreeing a fair and manageable repayment plan. As soon as we reach an arrangement acceptable to both of us, we will freeze all interest and will stop our debt collection activities. To discuss a plan please call our team on 0845 5199 104 and we will find a solution that works. 3.18. What do I do if I believe that I did not receive my payment within your same day if approved before 3pm guarantee? We will endeavor to have your cash in your bank account the same day if you apply and are approved before 3pm. However depending on who you bank with, this may take until the next day to show up in your bank account. We use a system called faster payments and not all banks have implemented this system. We would ask you to check the next day, if the funds are still unavailable and you applied before 3pm, then give us a call on 0845 5199 104 so that we can review the status. If you applied after 3pm, the funds should be in your bank account by the end of the next day. We would ask you to wait until the end of the following day (6pm) before calling us. 3.19. I have just received details of a settlement offer. What does this mean? A settlement offer is a reduced repayment amount towards your current balance and is offered as a one-off lump sum payment. This means that once the lump sum figure has been paid we will clear any outstanding balance remaining and your loan will be settled. To accept this offer, please respond to the email you received as soon as possible as offers are valid for a limited time only. Please note that failure to repay a loan on your promised repayment date could have an impact on your credit rating and you may incur further interest. 14
3.20. How much can I borrow once I have repaid my loan? Once you have successfully repaid a loan, your limit will increase to 450. As responsible lenders, you will not be able to borrow more than 450 whilst you are an undergraduate; this is to make sure that your student loan is not all used in paying off loans taken out with Smart-Pig. 3.21. What time is the repayment taken? The amount due will be deducted from your card automatically, any time from 2am on your chosen repayment date. All you have to do is ensure that the required cash is available in your bank account. Please remember however that if we are unsuccessful in collecting full payment by 5pm on the repayment date we will charge you a 25.00 missed payment fee. We may try to debit your debit card at a later stage and on more than one occasion after 2am on the repayment date for all or any part of the amount due. 3.22. Can I pay by direct debit? No, currently you cannot pay your loan via direct debit. The easiest and most convenient way to repay your loan is with a debit card. You can pay off your loan at any time by visiting the My Accounts page. Paying by debit card is the quickest and easiest way to settle your loan. 3.23. How do I repay a loan? By using Smart-Pig.com you don t need to worry about how you are to repay the loan, we will automatically collect the amount you owe on the day you promised to repay. You'll then be welcome to apply again in the future. Please note that if the funds aren't available and your bank refuses our payment request you'll incur a default fee of 25. This is the last thing we want to happen, so if you know that the funds are going to be unavailable on the repayment date, you must either extend your loan or contact us via email at: collections@smart-pig.com 3.24. I have repaid my loan but I have not received the Thank you email. If you have not yet received a Thank you email from us it is likely that it is in your spam/junk/bulk mail box, please check in there and you will likely find our email. You must also remember that it can take up to 48 hours for your payment to be processed depending on who you bank with. 3.25. What's the easiest way to pay? We will automatically collect payment on the repayment date, however if you wish to repay early the easiest and most convenient way to repay your loan is with a debit card. Just simply visit the My Accounts page and pay your loan in full or in part off 3.26. I have repaid my loan but it isn t showing on my bank statement. As we take the payment via your debit card, this can take up to three working days to show on your bank statement - depending on how quickly your bank works. The amount is usually deducted from 15
your available balance' immediately and then shows on your statement approximately three working days after. Please contact your bank if you have any further queries. 4.0. MISCELLANEOUS 4.1. Were you really founded by Students? Yes! Our company was founded in 2011 by two students who realised that students wanted a way of making student finance more flexible. Our service is designed expressly with students in mind and no other online lender can beat our terms. One of our founders works part-time as he is finishing his degree, the other has graduated and runs the business full-time. If you see them around with their Smart-Pig hoodies, say Hi! 4.2. What is your contact number? You can contact us on: 0845 5199 104 Monday Friday between 9am and 5pm 4.3. What is your email address? That depends on your enquiry. For general enquiries email us at care@smart-pig.com 4.4. Why do you want to see my Student Loan Payment timetable? Smart-Pig.com was founded by students for students. Your payment time table is needed as part of our validation checks. The payment time table letter confirms your student identity as well as proving your income. Without this letter we will be unable to process your application 4.5. What are your opening hours? We're always open - 24/7, 365 days a year 4.6. What if I have bad credit? Smart-Pig.com looks at every application individually. We understand that student might not have a good credit record to start off with anyway! This may be down to the simple fact that you have not started to build a record. We were students ourselves and want to be able to help. All we ask is that you fill out your application truthfully and provide all the required documents we ask. One of our team members will process your application and provide you with an answer. 4.7. What do I need to get a loan with Smart-Pig.com In order to qualify for a loan with Smart-Pig.com you must: Be over the age of 18 Be studying at a UK University Be in receipt of a student loan or student grant Be able to supply us with a copy of your student loan payment timetable letter (for validation reasons) 4.8. Do you send any post to my house? 16
We will only ever send post to your house to try and contact you if we have been unsuccessful in contacting you through phone or email. 4.9. What is your postal address? Our postal address is: Smart-Pig.com 7 Clarendon Place Leamington Spa CV32 5QL 4.10. I have received a letter in the post for someone that is not at this address, what do I do? If the addressee stated on the letter does not live at the receiving address, please return the letter back to: FCL (UK) Limited 7 Clarendon Place Leamington Spa CV32 5QL Please enclose an explanatory note and, once we have received it, we will mark the address as invalid and stop future mail being sent. We apologise for any inconvenience caused. 4.11. How much cash can I borrow? You can request anything between 15 and 250 the first time you apply to Smart-Pig.com. If you repay your loans as promised and use the service responsibly, we may gradually increase your limit - giving you the flexibility to apply for more cash in the future should you need it. The maximum loan you can apply for is 350. 4.12. Do I need a bank account? Yes, a current UK bank account is required, along with an active debit card. 4.13. Do I need to give a reason for my application? We were students once and understand that you may need the money for all sorts of things, so no, you do not need to give us any reason as to why you want the money The only reason we might ask what you need the money for would be for research purposes and any information given in those cases would be received in the strictest confidence. We just ask that you only borrow what you can comfortably afford to repay on your chosen repayment date. 4.14. How much does a loan from Smart-Pig.com cost? This will vary from customer to customer. To find out how much a loan will cost you select how much you'd like to borrow and the date to pay us back and we ll calculate exactly how much the full repayment will be before you apply. We charge interest by the day, so the shorter your borrowing period the less you'll pay for your cash. 17
We also have a 10.00 transaction fee that helps cover the cost of our systems. Again, this is included in the total cost you'll be shown up-front. If your circumstances change and you can repay your loan earlier than expected, you could save money. You'll be welcome to repay early at any time and there's no hidden fee. Just login to make an early payment under the My Accounts page. 4.15. What personal information does Smart-Pig need? We need to know personal details like your name, address, phone numbers and income. Plus your bank account and debit card details. We need this info so we can be sure who's applying, to check if Smart-Pig.com is a suitable solution for you and as part of our payment and collections process. To give yourself the best chance of approval, you should always ensure the information you give us is accurate and honest. For full details about the collection of, and potential uses of, your personal details you can read our Privacy Policy at the foot of our website. 4.16. How does Smart-Pig.com work? Smart-Pig.com provides small and flexible loans around the clock. We're here to help solve urgent and short term cash flow problems. We understand the stresses of being a student, when it came to money we were stressed out with it when we were students. We understand that you may need a short term loan to pay the rent or your student loan is late and you need some quick cash. We're faster and more convenient than other online lenders and the company was created by students just for student. You decide how much cash you need and how many days you want it for, using the simple system on the home page. We calculate the cost upfront and you commit to repay it on the date you promise to. On the morning of that day we take a single payment from your debit card. 5.0. LEGAL 5.1. What if I have a complaint? We want to put a smile on your face every time you use our service. So if you aren't happy with our service, please tell us. You can tell us about your concern by phone - 0845 5199 104 or by writing to us at: Smart-Pig.com 7 Clarendon Place Leamington Spa CV32 5QL We will respond to your complaint as soon as we can. If your complaint is particularly complex, it may take longer to resolve. If we have not been able to resolve your complaint, we will write to tell you: why we have not yet resolved your complaint, who is dealing with your complaint and when we will contact you again. If you are still not satisfied with the outcome you may refer your complaint to the Financial Ombudsman Service or to the Finance and Leasing Association. Both these organisations help settle 18
disputes between businesses and their customers. You will need to allow us to respond to your complaint before referring the matter to the Ombudsman. You should allow us 8 weeks to issue you with a final response to your complaint. You may also contact the Consumer Credit Trading Association by post at: Suite 4 The Wave 1 View Croft Road Shipley West Yorkshire BD17 7DU Or telephone them on: Tel: 01274 714959 Fax: 0845 257 1199 Alternatively, you may contact the Financial Ombudsman Service: Financial Ombudsman Service South Quay Plaza 183 Marsh Wall London E14 9SR Email: complaint.info@financial-ombudsman.org.uk Phone: 0845 080 1800. Website: www.financial-ombudsman.org.uk Rest assured, we will contact you regularly until your complaint has been resolved or a mutual solution has been achieved. We thank you for your co-operation. 5.2. I want to cancel my Smart-Pig.com account and to delete all my details from your site, how do I do this? We cannot delete your details entirely as they are kept for our record keeping purposes and antifraud measures. We can disable your account and make sure you are not contacted by us though. We are bound by law to keep all data from applications submitted to us for a minimum of six years. Any information you have provided to us will be treated in accordance with the Data Protection Act 1998. All personal information will be fully protected in accordance with the Data Protection Act and will be kept strictly confidential. 5.3. Are my personal details shared with any 3rd parties? We may transfer your personal information to selected third parties (see "Selling and disclosing your data to third parties" in our privacy policy). If at any time you wish to stop receiving such contact 19
from a third party, you will need to follow the instructions about unsubscribing provided at that time by the third party. Please note that we only partner with trusted companies who will respect your right to unsubscribe from any such marketing communications, but we will not be responsible for managing that process or any disputes. You can read our Privacy Policy (at the foot of our homepage) to understand exactly how your data may be used. 5.4. Is Smart-Pig.com a member of any financial bodies? Yes, we are a member of the Consumer Credit Trading Association CCTA. We also have a credit license from the Office of Fair Trading (OFT). 20