frequently asked questions
Frequently Asked Questions
Who Is Finance 4 Eyecare?
Finance 4 Eyecare provides an Interest Free Finance product for the eyecare marketplace, to assists in making treatments more affordable. We use a state of the art online finance application gateway, which enables clients to complete a credit application in the comfort of their own home.
At Finance 4 Eyecare we are driven to deliver an ethical, professional, empathetic and efficient service via our multi-faceted web site. Our Management team has a wealth of experience in delivering financial products into the Professional and Medical markets including Interest Free Finance for Optical and Veterinary treatments.
Will The Finance Company Perform A Credit Check?
Yes. A credit check forms part of the automated decision making process and is part of their responsible lending policy.
How Do I Ask A Question About The Credit Agreement?
If you have a question, if there is anything you do not understand or if you require any further information regarding the credit agreement, please call Finance 4 Eyecare on 01294 318718 or seek free, independent advice from organisations such as:
Why Was I Declined?
Unfortunately we are not given the reason why a customer is declined for credit. The authorisation process is carried out by the finance company and Finance 4 Eyecare has no part in the decision. The reason for a decline is often that incorrect information has been entered in the credit application form. Please ensure you carefully enter all required information. If you wish to find out more about your credit status please click below for a free copy of your credit report.
What Is Responsible Lending?
Responsible lending is providing credit, based on background checks and professional judgement, to people who can accommodate regular repayments without getting into financial difficulty. Before the finance company will offer credit, they will assess whether they feel you will be able to repay it. Finance companies endeavour to make their decisions as transparent and as objective as possible. Credit scoring is one of the decision-making tools they use: a technique used to assess the probability that customers can and will meet their financial commitments. Credit scoring uses data received from credit reference agencies.
These systems help finance companies make decisions about opening accounts and granting credit by using statistical techniques to measure the likelihood that a customer applying for credit will be an acceptable credit risk. It can also help to accelerate the decision making process. The Finance companies responsibility to lend responsibly should be seen as a complement to customers’ own obligations to borrow responsibly.
What Is Responsible Borrowing?
Borrowing from a finance company can be a very useful way to smooth out the gaps between your income and expenditure. Sensible borrowing has empowered generations of people to buy goods and services that would otherwise be well beyond their reach. Used sensibly, borrowing money can be a very good tool for managing your finances, such as spreading the cost of a purchase over a number of months. The key is to remain in control of your money and to make sure that you do not over-stretch yourself.
Can I Cancel My Credit Agreement If I Change My Mind?
You have the right under section 66A of the Consumer Credit Act 1974 to withdraw from this agreement without giving any reason before the end of 14 days beginning with the day after the day on which the agreement is made or, if later, the date on which we will tell you that we have signed the agreement. If you wish to withdraw you must give us notice by one of the following methods. Oral notice must be given to us by telephoning V12 Retail Finance 02920 468900 .or by email to firstname.lastname@example.org or you may post notice to or deliver notice by hand to, V12 Retail Finance Limited 20 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ.
If you do give us notice of withdrawal, you must repay to us the whole of the credit without delay and in any event by no later than 30 days after giving notice of withdrawal. You will also have to pay interest accrued from the date the agreement was made until the date you repay it. If you wish to pay by debit card please telephone us on 02920 468900 . If you wish to pay by cheque please send it by first class post to, V12 Retail Finance Limited 20 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ and allow 10 working days from the day you post the cheque to us to allow us to process the payment.
Email Communication Problems?
With your permission, we will email you a copy of the credit agreement and other important information, updates to the status of your application and to confirm when your application is complete. We will send these emails to the email address you provide on the credit application form so please ensure you enter your address carefully. If you have not received any email from us, please check your spam/junk mail filter.
Do I Need A Bank Account?
Yes. You must have a UK bank account capable of accepting Direct Debits.
Do I Need To Pay A Deposit
No. A Deposit is not mandatory, however your practice may ask for one. The amount of the deposit is show in the credit summary (displayed on the top left hand side of the screen throughout the credit application form) and on the credit agreement itself.
How Do I Repay The Loan
Your monthly repayments are collected by direct debit.
Can I pay My Agreement Off Early?
You can settle the agreement at any time by paying off the amount you owe. The amount may be reduced by a rebate. Examples indicating the amount you have to pay appear in the agreement. The examples are illustrative only and are based on the assumption that all instalments are up to date. No account has been taken of any variation to this agreement.
How Much Does The Loan Cost?
The total cost of the loan is shown clearly on the finance agreement. With Interest Free Finance there are no charges for finance.
Are There Any Other Charges?
If you fail to pay any amount you owe under the Credit Agreement by the date it is due, the finance company may charge you interest on that amount until you pay it. They may also levy charges for: Processing any payment made other than by direct debit, sending arrears letters, reminders or documents to which you are not entitled. Arrears telephone calls, tracing you if you move address without notifying them, Cheques, standing orders or direct debits which are dishonoured, stopped or not paid by you. Please refer to the credit agreement for full details.
When Do My Payments Start?
Repayments start one month after the agreement has been accepted and e-signed.
What APR Will I Be Charged?
The APR is shown clearly on the credit summary (in the right hand side of the screen) throughout the credit application process. It is also shown clearly on the credit agreement itself. The APR for Interest free credit is 0%.
Is It Safe To Apply Online? Will My Details Be Secure?
Yes. It is extremely safe to apply on-line. Your personal information is encrypted before transmission to ensure it cannot be viewed by any unauthorised third party. The V12 Retail Finance gateway uses proven techniques to ensure the security and integrity of sensitive data. Data storage on our systems is regularly audited to the highest standards to ensure a secure transaction environment. This includes specific regular third-party testing for vulnerabilities and reviews of application security and access control procedures.
What Personal Information Do You Need?
Is The Application Confidential?
Yes. Your credit application is treated in the strictest confidence. We will not contact your employers, bank or any other third party.
What If My Enquiry Is Not Answered By The FAQs?
Answers to the most frequently asked questions are detailed in this section. If your enquiry cannot be answered by the FAQ please email us at email@example.com
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