Why was my application declined?
In light of the current COVID-19 we will not be accepting any new loan applications. The well-being of our customers is of absolute priority and therefore we ask you to contact us via chat, email or phone if you have an existing account and require any help.
Many customers will be faced with income interruptions as a result of this crisis and so therefore we are recommending that you refer here for useful advice: https://www.moneyadviceservice.org.uk/en/articles/coronavirus-what-it-means-for-you
There could be a number of reasons why you’re not eligible for a loan on this occasion. A change in your financial circumstances, financial commitments, credit score or borrowing history could all affect your eligibility for a loan.
As a responsible lender, we’ll also look at how you’ve been getting on with Ferratum loans. Our short-term loans are only to be used for short-term financial needs and should not be used as a long-term borrowing solution, or if you are in financial difficulty. If we see repeat lending that could suggest long term financial difficulty, we may ask you to evaluate your borrowing needs or seek free and impartial advice from moneyadviceservice.org.uk.