Debt Management Terms & Conditions

Pay Day Loan Terms & Conditions of Borrowing


Debt Management Terms & Conditions


The company's registered office is: Your Smart Finance Ltd, Smart Suite, 6 Old Eldon Square, Newcastle upon Tyne, NE1 7JG.
The Smart Debt Management Plan is designed to help you ease your financial troubles and become debt free by making regular payments to your management plan. Your Smart Finance Ltd will work on your behalf and deal with your creditors (the organizations you owe money to) so that we can work out a pre arranged repayment plan based on what you can afford to pay these creditors each month until your debts are fully paid off. Your Smart Finance Ltd will ask your creditors to agree to reduced payments and not claim interest on those due debts or agree to reduced interests and any other charges that you would normally have to pay. Your Smart Finance Ltd cannot guarantee the outcome of any discussions.
These terms and conditions of the business explain what Your Smart Finance Ltd will do for you and what you must do during the duration of your debt management plan.
Our Commitment to you

  1. Your Smart Finance Ltd will act for you with your best interest in mind at all times. We do not act for your creditors.
  2. All information regarding yourself(s) will be kept strictly confidential, except when we are required by law or at your request to disclose any of your personal information.
  3. We agree to assess your financial situation taking in to account your allowance for essential living costs and advise you in the best possible way with regards to clearing your debts. We will also offer any advice with regards to your secured borrowing and how to ensure you act in the best possible way with regards to these borrowings.
  4. We will offer proposals to your creditors and enter in to such agreements on your behalf.
  5. We will keep your payments in our client account, and upon receipt of your monthly payment we will distribute these to your creditors within 5 working days unless instructed otherwise by your creditors.
  6. You will be updated by means of statements from Your Smart Finance Ltd, so you can see clearly how your plan is operating.
  7. All actions and services will be done with due care, skill and attention by all members of the Smart Team at all times.
  8. Your Smart Finance Ltd resolve the right to revoke a clients plan from their scheme’s or decline an applicant if we feel it necessary and appropriate.

 

Your commitment to Your Smart Finance Ltd and your payment plan

  1. You agree to the fees discussed with your advisor or any member of the Your Smart Finance Team.
  2. You agree that Your Smart Finance Ltd can act on your behalf as your agent when dealing with your creditors and the information you have provided us with regards to your income & expenditure accurately reflect your current situation.
  3. You agree that you will keep up payments to your payment plan and notify us of any correspondence from your creditors or change in your personal circumstances.

Your rights to cancel
You have the right to cancel your arrangement with Your Smart Finance Ltd at any time. This should be made in writing to Your Smart Finance Ltd, Smart Suite, 6 Old Eldon Square, Newcastle upon Tyne, NE1 7JG. If you cancel your arrangements within 7 days you can request back any money that remains in the client account and has not yet been issued to your creditors minus our monthly management fee and administration charge of £100.
Our rights to cancel
Your Smart finance ltd will cancel any arrangement where the client has not made a payment to their plan within 21 days of the agreed payment date. If the client fails to provide the correct documentation or information required by Your Smart Finance Ltd in order to deceive us or your creditors, or does not provide any documentation or information when requested by Your Smart Finance Ltd.
Our Fees
Your Smart Finance Ltd are allowed to take an initial fee (a charge for setting up Your Smart Finance Plan); It is refundable within a 7 day period of payment and this is your statutory right. The ongoing monthly administration fee charged after the initial fee has been fully received is at the rate of 17.5% or a minimum of £25.
Complaints
Your Smart Finance Ltd are committed to providing a professional service to our clients. In the unlikely event you are dis satisfied with any part of our service or a particular member of The Smart Team then please write to ‘The Compliance Officer’ at Your Smart Finance Ltd, Smart Suite, 6 Old Eldon Square, Newcastle upon Tyne, NE1 7JG and we will endeavor to respond to you within 30 days of receipt of your complaint.
Disclaimer
It is agreed between the parties that Your Smart Finance Ltd is not responsible and shall not be liable for any actions or decisions reached by you the client either during or after the continuance of this agreement. I have also fully read this document and agree to The Smart Terms Conditions.

 

 

 

Pay Day Loan Terms & Conditions of Borrowing

  1. The Terms and Conditions form part of the credit agreement with Your Smart Finance Ltd.
  2. The credit agreement and all other communication between the parties are (unless otherwise stated) to be provided by way of electronic means. You should follow the instructions for entering into the agreement as described in the email sent to the notified email address. The agreement comes into force when we sign and date this agreement. We will send to you an e mail or other electronic communication to notify you when the agreement comes into force and will send you by post a copy of the executed agreement within seven days of that date.
  3. The amount of credit shown on the agreement will be paid directly to you by Cheque or directly into your bank account by CHAPS. Payment requested by CHAPS will attract a fee of £15 which you authorise us to deduct from the amount of credit before transfer. A request for CHAPS payment must be made by you no later than 12pm to ensure same day payment.
  4. By signing the credit agreement you agree to:
    1. Receive all communications from us and to send all communications to us (unless otherwise stated) by electronic mail at the e mail addresses notified.
    2. notify us immediately in the event that you
      1. Change your e mail address with your new e mail address,
      2. No longer have an e mail address or have no means of receiving any electronic mail from us
  5. You agree to pay to us the total amount payable by the date shown in Key Financial Information shown on the agreement by Debit or Credit Card.
  6. Should you fail to meet your repayment dates a charge of £50 per missed payment will be levied to your loan.
  7. In the event of non payment a charge of 5% daily will be levied to the account until your account is brought up to date.
  8. As part of our recovery process we reserve the right to contact your employer and request an attachment of earnings for all money due to us.  In establishing the amount of earnings that will be deducted we will confirm your take home pay and make allowances for living expenses as per Your Smart Finance's guidelines.  
    We furthermore reserve the right to appoint bailiffs to recover goods to the value of all monies outstanding.
  9. All sums owed under the agreement shall become due and payable immediately upon our giving notice if
    1. Any sum due is overdue by more than 3 days, or
    2. you have provided us with any false information when you entered into this agreement, or
    3. a statutory demand is served on you or any other steps are taken by you or any other person to make you bankrupt.
  10. Interest on any overdue amounts may continue to be charged after any judgement has been obtained against you.
  11. You authorise us to collect by direct debit, electronic or other means any monies owed under the Agreement from any bank or debit card account of which you have supplied details to us with prior notice by e-mail, fax or post.
  12. We may use credit reference and fraud prevention agencies to help us make lending decisions. What we do and how both we and credit reference and fraud prevention agencies will use your information as detailed in our Privacy Policy. By confirming your agreement to proceed you are accepting that we may each use your information in this way.
  13. You have a right to cancel the credit agreement within 7 days commencing on the day after the agreement comes into force. If you wish to cancel the credit agreement you can do so by the following means
    1. By sending a notice to us in writing at The Smart Suite, 6 Old Eldon Square, Newcastle Upon Tyne, NE1 7JG. If you send a notice by post, then your notice will be taken to have been given on the day it was posted.
    2. By leaving the notice at The Smart Suite, 6 Old Eldon Square, Newcastle Upon Tyne, NE1 7JG
    3. By e-mail to info@yoursmartfinance.com or fax to 0191 261 9418
  14. If you decide to cancel the credit agreement you will have to repay to us as soon as possible and in any event within a period not exceeding 30 days from the day when you exercise your right to cancel in 10 above.
    1. the amount of credit stated in your Key Financial Information, plus
    2. A cancellation administration fee of £25.
  15. You must inform us within 5 days in writing of any change in name, home address, e mail address, job or any other circumstances relating to your ability to discharge your liabilities under this Agreement.
  16. The Creditor shall include any successors in title of assignees of the Creditor. We may transfer our rights and responsibilities under this agreement to another person.
  17. We are licensed by the Office of Fair Trading of Fleetbank House, 2-6 Salisbury Square, London EC4Y 8JX. Our consumer credit licence number is 587892, we are an appointed representative of AmmarM
  18. We operate a complaints procedure in the event that you are dissatisfied with an aspect of the service we provide. Full details are available upon request. If any complaint you make is not resolved to your satisfaction then you may also be able to refer your complaint to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR.
  19. All terms and conditions, correspondence and any communication from us will be in English.
  20. You should be aware of the possibility that other taxes or costs may exist in addition to the sums referred to in the credit agreement which are not a condition of the loan or imposed by us.
  21. This agreement is governed by English Law (except where the debtor resides in Scotland where it shall be governed by Scottish Law)
  22. By signing this agreement you confirm that all the information provided to Your Smart Finance Ltd either by phone, fax or email is 100% accurate and to your knowledge is true. Providing false information is a criminal offence and may lead to prosecution.
  23. You agree that Your Smart Finances terms and conditions precede all others including the Law of England Wales & Scotland.

All other terms & conditions relating to any other financial products supplied by Your Smart Finance Ltd can be produced upon request. Unless, in the case where the terms & conditions are not published by Your Smart Finance Ltd, for example; relate to a specific mortgage product, in which case the they will be issued from the lender via the broker in charge.
For an explanation of any points relating to the Your Smart Finance  Ltd Terms & Conditions please forward your questions to info@yoursmartfinance.com