We are using cookies to give you the best experience on our site. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. By continuing to use our website without changing the settings, you are agreeing to our use of cookies.

Repaying your loan

WARNING: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

It’s really important to repay your loan on the date you agree. If you don’t, this may lead to your loan costing you more money. And it could also affect your credit score, which will make it harder to get a loan in the future.

To make it easier, we always set your Vivus repayment date to coincide with you monthly payday, or another suitable date.

The price of your loan will depend on how long you borrow the money for. So if you want to save money, you should repay it as soon as you can. Whatever you decide, we’ll always make all our costs clear, so you’ll know exactly where you stand and can choose a date that works for you.

When you take out a loan, we’ll take your Debit Card details so we can automatically take your payment on the day it’s due. That way you don’t need to worry about it.

To help you make sure you’ve got enough money in your account, ready to repay your loan, we’ll send you a text reminder a couple of days before the payment’s due.

You can find out more about this Continuous Payment Authority here.

If you’d like to pay all or part of your loan back early, call us on 03300 245000 and we’ll help you out.

As soon as you realise you may have a problem making your repayment, the most important thing to do is to call. That way, we’ll be able to help you make sure you don’t end up paying more than you need to. We understand things can happen which mean your planned repayment becomes more difficult than you expected. And we won’t make things more difficult – we just want to help.

Call us on 03300 245000 before you miss the payment, because that will make things much easier.

For help with debt problems and other money worries visit moneyadviceservice.org.uk.

A Continuous Payment Authority is set up using your Debit Card and allows us to take the loan repayment on the date you agreed without you having to do anything. Once we have your payment, the CPA is cancelled automatically.

If there isn’t enough money in your account to cover the repayment, we’ll attempt to contact you to discuss your financial situation. If we have not managed to contact you we will make one further attempt to collect repayment, three days later.

If this second attempt to collect repayment is unsuccessful we won’t make any further attempts to collect repayment unless you specifically authorise us to.

We will never try to take an amount that’s different to your agreed Repayment Amount set out in your loan agreement.

Your bank won’t charge for setting up a CPA, or if your payment is declined because there isn’t enough money in your account to cover it.

You have the right to cancel your CPA at any time, by contacting your bank. You’ll need to give them your Loan Agreement number and a few days’ notice to get things sorted. You can also cancel your CPA by contacting us directly on 03300 245000.

But if you think that you won’t have the money to make your repayment on the date it’s due, it’s always best to call us before the payment fails, because it’s much easier to sort things out then. Call us on 03300 245000.

If you’ve missed a payment and haven’t spoken to us, please pick up the phone! If we can talk to you we can help to find a solution that will mean you won’t pay more than you need to.

If your payment was due less than 5 days ago, you still have time to make your agreed repayment without any additional costs.

5 days after your planned repayment date, we’ll make a late payment charge of £15.00 which will be added to your account. But we’ll never charge interest on this amount.

We’ll also continue adding interest to the amount you borrowed, at the same daily rate. We’ll continue to apply this interest until the balance is paid, or until the total interest and charges is equal to the initial loan amount. Then we’ll freeze the interest and no further charges will apply.

The most important thing you can do is CALL US! We want to help, but we can’t do that unless we can have a chat and understand the problems you’re facing. If you avoid talking to us, there’s really nothing we can do to help, so call on 03300 245000.

For help with debt problems and other money worries visit moneyadviceservice.org.uk.

You have the right to cancel your CPA at any time, by contacting your bank. You’ll need to give them your Loan Agreement number and a few days’ notice to get things sorted. You can also cancel your CPA by contacting us directly on 03300 245000.

However, you’ll still need to make your loan repayment on time, so please call us on 03300 245000 to make alternative arrangements.

No. We will only ever collect the full repayment amount unless you specifically ask us to collect another amount.

Vivus is a trading name of V7 Limited. V7 is an independent company based in London, which is dedicated to providing practical lending solutions to meet customers’ borrowing needs. We are a responsible lender, providing simple loans to responsible borrowers.