PayDay Loans with TQLS – What Happens to your Application?

Hi there from the Folks at TQLS!

A number of people have asked the question: what happens once I complete the Application Form?

Well, this is relatively straight-forward and what we do in essence is check your Credit Worthy-ness as well as verifying the information you put on your Application.

We use various Credit Checking sources that provide us with a detailed History over the last 6 years as well as a ‘live’ up-to-date picture of current and very recent activity. This information paints us a picture that our Underwriting Team is able to use to make their decision.

Very importantly, we also verify the information on your Application. This is done in several ways and includes the use of Public Databases that confirm addresses for home and work etc and also by phone calls on the Landlines provided to speak to our Customers.

In line with good practice, we do often require a clear copy of your most recent Payslip and Bank Statement. These are generally emailed to us.

Why do we take these steps?

We do so to not only verify your Application, but to prevent fraud. There is an alarming number of fraudulent activity in the loans sector whereby fraudster’s use stolen identities to procure loans. As signatories to the PayDay Charter, TQLS does all we can to protect against fraud.

A final note on Application Forms: please ensure that you have spelt everything correctly, that your details match your card, addresses etc.

Thank you once again for reading our Blog, we hope this brief insight has answered the question and gives you confidence that we are working in your best interests.