If you are offered a debt consolidation loan, we will ask you to give details of the debts you want to settle with your new loan.
We work with our trusted partner, Paylink, to automate this process for you using their ReFi service.
Paylink will obtain settlement figures from your existing lenders with your consent. Providing this information is correct, the settlement figures match our requirements, and you pass any additional checks we will send the loan payment to Paylink who will distribute the settlement amounts to your lenders on your behalf.
Any remaining funds will be paid into your nominated bank account.
Our payment will take no longer than 5 working days. The money will then be distributed to your lenders within 24-48 hours. Once distributed, we cannot guarantee how long it will take your lender to allocate them against your account. Please do not cancel any Direct Debits or standing orders with your lenders.