Credio Loan Conditions
1. Application


These Loan Conditions will apply to the Fixed-Sum Loan Agreement (“the Agreement”) entered into by you with Cashbridge Corporation Ltd (Company Registration: 06979753) of 372 Old Street, Suite 167, London, EC1V 9LT, UK.

2. Loan Approval


a) If and when we provisionally approve (pre-approve) your loan application, actual payment of the loan amount is subject to:

i) us ensuring that the information you gave us was not inaccurate or deficient in any respect (if we discover that it was, then the Agreement will be void and where appropriate may be reported to credit reference and fraud agencies);

ii) us checking your credit reference and the information you provide to assess the affordability of the loan.

b) If you make a request for a loan and we approve your application the requested amount will be deposited into the bank account that you registered with us (under your ‘Bank Details’). If we agree to provide you with a loan we will inform you by text message when the loan is being processed and when it has been sent to your bank account. Loans requested during our normal business hours will be provided the same day usually within 60 minutes. In any other case the credit will be provided the next day.

3. Payment


a) You will be required to make equal regular payments throughout the specific term of your loan (i.e. 2-month, 3-month or 4-month loan). You will have to pay equal payments monthly according to the repayment schedule. Interest is included in the monthly repayment amount.

b) We will collect each payment by debiting the debit card you have registered with us at anytime on the date the payment falls due and therefore you must ensure there are sufficient funds in the account to cover the payment.

c) If we are unsuccessful in collecting your payment on your promise date, your status will be changed to 'overdue' and we are obliged to report this to our credit reference agency.

d) Prompt payments are essential.

e) Your obligation to make repayments to us will be satisfied by making payments to us by debit card or as otherwise agreed in writing by us.

f) If you miss the payments we may commence legal proceedings against you and then may seek to enforce any judgment obtained against you.

g) We are using our partner payment processor TrustPay to process recurring payments to collect repayments on your instalment loan on the date they are due.

4. Your Right of Early Repayment


a) You have the right to repay your loan early in full or partially. Please note that repaying your loan early will cost you less interest in total. We will only keep the 1st month's interest and will refund the rest of accrued interest on the daily rate basis.

b) For making a payment, please login to our site www.credio.co.uk and choose the most convenient payment channel for you. To serve you our best ability, we currently accept Debit Cards,PayPal and bank transfer as well. Alternatively, you can ask us collect it from your bank account using your debit card details that you have registered with us. To do so, please email to info@credio.co.uk.

5. Ending the Agreement and Early Payment


a) You can end this agreement by giving us notice of your wish to do so. To do so, please email to info@credio.co.uk. You must repay the full amount you owe under the Agreement at that time.

b) You agree that we will demand repayment of the full amount owed by you under the Agreement if you:

i. have been dishonest or given misinformation in a way which affects our decision to lend money to you;

ii. have broken the terms of the Agreement; or

iii. die, become bankrupt or make a voluntary arrangement with people you owe money to.

c) Before making any demand we will take all the steps we are required to take by law for your protection.

6. Our Relationship with You


a) You agree that at the date of applying for and accepting this loan, you are not:

i. in a Debt Management Plan (or similar scheme) or considering entering a Debt Management Plan (or similar scheme);

ii. in an I.V.A or are considering entering into an I.V.A.;

iii. bankrupt or considering filing for bankruptcy;

iv. under notice of termination of employment, redundancy or any other notice which could affect your employment status;

v. in receipt of Statutory Sick Pay or suffering from any medical condition which would cause you to apply for Statutory Sick Pay during the period of the loan;

vi. in receipt of any benefits instead of your usual wages, salary or other income declared to us in your application.

b) If you miss a loan repayment, or find yourself in financial difficulties and you believe you cannot afford to repay the amount due under your Agreement, you will contact us as soon as possible by email to info@credio.co.uk so we can discuss a repayment plan and/or other appropriate steps (which may include passing your account to a Debt Collections Agency).

c) You shall tell us or a Debt Collections Agency, as the case may be, when your circumstances change in a way that may adversely impact your ability to repay the amount due under your Agreement.

d) If your relationship with us or the Debt Collections Agency has broken down, this will be included in the information supplied to the credit reference agencies. You should be aware that this may have serious consequences for your ability to get credit in the future.

7. Special Offers/Promotions


From time to time, we may introduce special offers or promotions. These will be subject to separate terms and conditions, which we will publish at the time.

8. Use of Personal Information


a) We are the data controller and may use data that identifies you (“your personal data”) for: statistical analysis; to develop and improve our products; to update your records; to identify which of our, or others' products might interest you; to assess lending and insurance risks; to arrange, underwrite and administer insurance and handle claims; to identify, prevent, detect or tackle fraud, money laundering and other crime; to carry out regulatory checks; keeping you informed about your loan and for market research.

b) We will keep your personal data confidential and only give it to others for the purposes explained, including:

i. to our agents and subcontractors, acting for us, to use for the purpose of operating our lending business and obtaining payment;

ii. to share information via an organisation which provides a centralised application matching service which it collects from and about mortgage and/or credit applications, for the purpose of preventing and detecting fraud;

c) By submitting your details and/or using our service you accept and expressly consent to the use and disclosure of your personal data in the manner described. If you object to any of the potential uses described please don’t apply.

d) When you apply to us for a loan, we will check the following records about you (and others where applicable). See f below.

i. our own;

ii. those at credit reference agencies (CRAs);

iii. those at fraud prevention agencies (FPAs).

CRAs


When CRAs receive a search from us they will place a search footprint on your credit file that may be seen by other lenders. They supply to us both public (including the electoral register) and shared credit and fraud prevention information.

We will make checks such as; assessing this application for credit and verifying identities to prevent and detect crime and money laundering. We may also make periodic searches at CRAs and FPAs to manage your account with us. Information on applications will be sent to CRAs and will be recorded by them.

Where you borrow from us, we will give details of your loan(s)/account(s) and how you manage it/them to CRAs. If you borrow and do not repay in full and on time, CRAs will record the outstanding debt and, in some cases, the length of time that the debt remains outstanding. This information may be supplied to other organisations by CRAs and FPAs to perform similar checks and to trace your whereabouts and recover debts that you owe. Records remain on file for 6 years after they are closed, whether settled by you or defaulted.

We will give you prior notice of a default being registered on your credit reference file. However, we may not always give you notice if we plan to take court action.

e) If you give us false or inaccurate information and we have reasonable grounds to suspect fraud or we identify fraud we may record this and may also pass this information to FPAs and other organisations involved in crime and fraud prevention.

f) If you are making a joint application or tell us that you have a spouse or financial associate, we will link your records together so you must be sure that you have their agreement to disclose information about them. CRAs also link your records together and these links will remain on your and their files until such time as you or your partner successfully files for a disassociation with the CRAs to break that link.

g) We and other organisations may access and use from other countries the information recorded by fraud prevention agencies. We may transfer your personal data abroad to countries whose data protection laws are less strict than in the UK. If so, we will ensure the information is held securely to standards as least as good as those in the UK and only used for the purposes set out in this clause.

h) Your data may also be used for other purposes for which you give your permission or, in very limited circumstances, when required by law or where permitted under the terms of the Data Protection Act 1998.

i) Under the Data Protection Act 1998, you have a right to access certain personal records we, credit reference agencies and fraud prevention agencies hold about you. This is called a ‘subject access request’, which you can make by writing to info@credio.co.uk. A fee may be payable, but we will not charge you until we have told you how much the fee is and what it is for, and you have told us you still want to proceed.

This is a condensed version and if you would like to read the full details of how your data may be used please visit our website at: www.credio.co.uk/privacyPolicy

9. System Complaints and Dispute Resolution


a) If you want to make a complaint about us you can email info@credio.co.uk, with brief details of your complaint and your account number. Our Customer Service staff will acknowledge your complaint by email within 5 working days. We will try to sort out your complaint quickly once you have contacted us. If we cannot do this, we will tell you about the procedures we have for sorting out complaints. These procedures are set out below. If we need to investigate your complaint further to respond fully, we will tell you and keep you regularly updated. If a further investigation is required one of our staff will investigate and send you an initial response, having had access to an officer with the authority to settle the complaint (including, where appropriate, an offer of redress). Where appropriate, the member of staff investigating the complaint will not be any staff member who was directly involved in the subject matter of the complaint.

b) Final response letter and the Financial Ombudsman Service
We will send you a letter by the end of eight weeks after we received your complaint. This will either: Give our final view on the issues raised in your complaint, and say whether we:

a. Accept the complaint and where appropriate are offering redress; or

b. Are offering redress without accepting the complaint; or

c. Reject the complaint (giving reasons why we are doing this); or

Explain that we are not able to provide you with a final response within that eight week period, give the reason for the delay and tell you when we expect to give you a final response.

In each case, we will tell you that if you are still not satisfied with our response or the delay, you may refer the complaint to the Financial Ombudsman Service. We will give you their details, and a copy of their explanatory leaflet, in the final response letter.

10. Notices


You agree that any notices given to you in relation to any Agreement can be delivered to the email address supplied by you during your application. Any notices may also be put on your online account. In such cases, you will also receive by email to your email address a prompt to refer to your online account. At our discretion, we may also serve any notice or demand on you personally, or leave it or send it by prepaid envelope addressed to you at your last known address. You may serve any written notices on us by first class post or by email to info@credio.co.uk.

11. General


a) These Loan Conditions and the Agreement and any dealings with you prior to any agreement being made are governed by and construed in accordance with English law, and we and you submit to the non-exclusive jurisdiction of the English courts, unless you live in Scotland, Northern Ireland, the Channel Islands or the Isle of Man, in which case you will be entitled to commence legal proceedings in your local courts.

b) If any part of the Loan Conditions that is not fundamental is found to be illegal or unenforceable, such finding will not affect the validity or enforceability of the remainder of the Loan Conditions or the Agreement, as the case may be.

c) Any waiver by either party of a breach of any provision of these Loan Conditions and/or the Agreement shall not be considered to be a waiver of any subsequent breach of the same, or any other, provision.

d) The records kept by us shall be conclusive of the facts and matters they purport to record except where there is an obvious mistake.

e) We are licensed under the Consumer Credit Act 1974. See www.fca.org.uk for details. The information provided is correct at time of printing and is valid until varied in accordance with these Loan Conditions. We are an online lending service providing short-term loans. The basis upon which the Loan is supplied to you is set out in this Agreement.

f) All communications with you will be in English.

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