How to make overpayments on your loan

Making a payment by bank transfer

Please make your payment via bank transfer, using your customer reference number as the reference so we can trace the loan payment to you. This should be a reference beginning with CA.

If you do not know your number, it will be on your loan agreement or loan statements.

If you cannot find it, please contact us. Without this reference on your payment, we will not know where to allocate the funds.

Our bank details are as follows:

​Bank:                 Lloyds
Name:               Lendology CIC
Sort Code:        30-93-14
Account No:     05746429

Your bank should confirm the details that you have entered are correct. Please check very carefully to make sure that the name Lendology CIC is a match with the details on your online banking. If you are not sure, please contact your bank for assistance.

Upon receipt, we will write to confirm that we have received your funds and to confirm your new loan balance.

Making a payment by cheque

We can accept a cheque.

Please write your CA reference number on the back of the cheque so we can trace the loan payment to you.

If you do not know your number, it will be on your loan agreement or loan statements.

If you cannot find it, please contact us. Without this reference on your payment, we will not know where to allocate the funds.

Please post to our office:

Lendology CIC
Heatherton Park Studios
Bradford on Tone
Taunton
TA4 1EU

We will send this to our bank for processing. Once this has been processed and cleared, we will write to confirm that we have received your funds and to confirm your new loan balance.

Making a payment by cash

We cannot accept cash at our offices.

However, you can pay directly into our account with cash by walking into any Lloyds branch and making a deposit using an over the counter slip.

Our bank details are as follows:

​Bank:                 Lloyds
Name:               Lendology CIC
Sort Code:        30-93-14
Account No:     05746429

Please ensure they use the CA reference on the deposit reference so we can trace the loan payment to you. This is very important.

If you do not know your number, it will be on your loan agreement or loan statements.

If you cannot find it, please contact us. Without this reference on your payment, we will not know where to allocate the funds.

Some of our loans do not require a monthly direct debit payment.

However, if you would like to set up a direct debit on a monthly basis, this is fine.

Simply complete the Direct Debit Mandate form and return to us via post or email.  Please also let us know the date of the month that you would like us to collect your monthly direct debit.

I am unsure how to make an overpayment or increase my direct debit.

If you would like to call us to talk you through this process instead, or send you a letter, please contact our Finance Team on 01823 461099 and press Option 4.

If you’d like to make a regular overpayment to your loan, please make a request to increase your Direct Debit, confirming:

• How much you would like to increase it to;
• How long you would like to increase your monthly repayment for;
• When you would like the increase to happen (e.g. your next direct debit date, or a date further in the future).

You are not committed to making a regular overpayment.  This means you can reduce your direct debit to the contracted amount at any time.

Please note that we cannot make adjustments to your Direct Debit payment in the five working days before it is due.

When you make an overpayment, we assume that you wish to keep your repayments the same and repay your loan sooner.

This will save you interest and reduce the total amount you will repay compared to the original amount quoted in your loan agreement.

If you wish to make an additional payment and reduce your monthly loan repayments, please contact us to discuss.

If you have more than one loan account, you can certainly pay some money off each loan, or just the one; the choice is yours.

Please make a separate payment for each loan account using the unique reference number for each loan so that we know how much you wish to pay off each one.

If applicable, we would recommend paying off the loan with the highest interest rate first, as that would save you the most interest.

If you are not sure which loan to repay first, please contact us.

Please do not worry.  We are here to help. 

If you’re expecting a change in circumstances that may affect your ability to pay your loan or if you’re already having difficulty meeting your monthly repayments, please contact us as soon as possible.

By understanding your situation, we can offer tailored support, and, in most cases, there will be an option and the flexibility to help. To speak to one of our team, please contact us.

We can also signpost you to free debt and money advice charities or make a referral with your consent.