A member of the Consumer Credit Trade Association
Ferratum is proud to say that we are a member of the Consumer Credit Trade Association (CCTA).
It is our obligation as a responsible lender to be associated with an organisation that sets out a consumer protection agreement and good practice customer charter – to which, we are fully co-operative of.
The CCTA aims to be the most credible, valued and trusted representative of consumer finance organisations in the UK. The association has over 120 years’ experience in delivering customer satisfaction and is committed to representing the interests of members of both UK and European Government Regulators.
Here are just some of the regulations set out by the CCTA that Ferratum are devoted to delivering:
- To act fairly, reasonably and responsibly in all of our dealings
- Not to pressurise consumers into entering any short-term loan or extending a current loan
- Inform customers that short-term loans are not a solution for long-term financial difficulties
- Inform the customer of how the loan works and how much will need to be repaid
- To carry out a full and proper credit check
- Explain how we are going to communicate with the customer during the loan period
If Ferratum’s customers are experiencing problems in repaying their loan we will strive to adhere to the following:
- To deal with cases professionally, sympathetically and to respond in a positive manner – detailing what we can do to help
- Freeze interest charges if customers fail to pay after a maximum of 60 days
- Inform you of free and independent debt counselling organisations which help to resolve a customer’s issues
Ferratum believes that it is to the benefit of our customers that we are a member of the highly respected CCTA and follow their policies with the dedication to producing the best possible service for our valued consumers.