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.
Am I entitled to compensation for your error?
Because we have decided to remove all fees or interest applied following our error, we have reduced your loan balance by the amount of those fees and/or interest so it will cost you less to pay off your agreement.
How have you worked out the amount applied to my agreement?
The first step was to identify any default fees and/or interest applied to your loan. These were then removed from your account, so any repayment you made will have reduced your loan’s balance by that amount. As your loan balance is now lower because of this, we then reduced your future instalments to make sure your loan is paid off within its original term. This also means, if your loan is interest-bearing, less interest will be charged in future.
Do I still need to make repayments?
Yes. Although we did not set out all of the rights you have under this agreement, it does not mean you no longer owe us the credit you borrowed and any interest due to us.
Will this affect my credit history?
No. Providing you continue to make payments there is no effect on your credit rating from this.
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.
