Regulated Agreements Your Questions Answered
What did Duologi do wrong?
The type of agreement you signed needs to be transacted on an agreement regulated by the Consumer Credit Act because it is interest bearing and/or longer than 12 months in duration. Due to an administrative error, the agreement you were presented to sign was for a loan that is not regulated by the Consumer Credit Act.
What difference does a regulated agreement make?
There are additional protections and rights under this type of agreement and in particular rights under Section 75 of the Consumer Credit Act.
What rights does Section 75 give to me?
For this type of agreement if the supplier of the goods or services financed by the agreement does not supply these goods or services of satisfactory quality, they are not as described, or do not perform the function you were led to believe, you have the right to require us to rectify this instead of the supplier.
What should I do if the goods or services provided are not satisfactory?
It may be quicker for you to raise this with the supplier first, but you can take up the issue with either the supplier or us directly.
What if I complained to the supplier but they didn’t resolve it?
Please contact us, including the details of the complaint you made to the supplier and any response or information you received. We will conduct an independent review to determine if we are required to resolve this issue for you.
What difference does this make to me if the goods or services are satisfactory?
None – this only applies where you have a complaint about the goods or services.
How have you worked out the amount to be repaid to me?
The first step was to identify any default fees and/or interest applied to your loan after the date of our error. These were then removed from your account, so any repayment you made will have reduced your loan’s balance by that amount. Because you have paid more to us than you needed to, we are refunding the overpayment to you in full. We have calculated the date on which you would have paid off the revised balance and will be refunding you any amounts you paid since that date. We will also pay you interest on those amounts at the statutory 8% rate per year (simple) from that date.
Please let us know if you want to see the full details of how your payment was calculated.
How do you pay the money to me?
When you had a loan with us you paid by Direct Debit and we hold the details of that bank account. You will need to confirm that these are still correct and if so we will make a BACS transfer to the same account. This normally takes a total of around 7 days from processing to payment. Otherwise you will need to let us know your new bank account details and we will make the payment into that account.
Could you make payment elsewhere?
If you are bankrupt or in an Individual Voluntary Arrangement (IVA) or similar arrangement then we will need to make the payment to the official receiver or equivalent. If this is the case then you must inform us.
Why have you sent me a blank agreement form?
This is for information purposes only and provides you with the up to date terms and conditions for your agreement. There is no action needed and you do not need to sign any further paperwork.
How should I contact you about this?
To make it easier for you to contact us with any questions, we have dedicated contact details. You can use any of the contact details below.
Duologi, The Square, Basing View, Basingstoke, RG21 4EB
Duologi is a trading name of Specialist Lending Ltd which is a limited company registered in the UK under number 10664999 at the registered address 10 Bressenden Place, London, SW1E 5DH, United Kingdom. Authorised and regulated by the Financial Conduct Authority.