Affordability – Arrears Fees Your Questions Answered
What did Duologi do wrong?
When assessing customers eligibility for a loan we used a credit scorecard, and this should have included an affordability assessment. This would have identified whether the loan was affordable for you. When we retrospectively reviewed our underwriting practices and the regulatory guidance we realised we should have asked you for further evidence of your income. As we did not do this, we were unable to demonstrate that we had lent money to you responsibly. We are therefore contacting all affected customers.
Will you be refunding the amount I borrowed?
No. The amount you borrowed from us paid for goods or services you have received. We will only remove late payment fees.
How did you calculate the amount you are removing from my account?
We reviewed your account to see late payment fees were applied. If any were applied, we have removed these from your outstanding balance so you are not required to pay these.
Do I still need to make repayments?
Yes. Although we made errors, it does not remove your obligation to repay the credit you borrowed.
Will this affect my credit history?
No. Providing you continue to make payments there is no effect on your credit rating from this.
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.
