Important update | We are making some positive changes!
We recently made some changes to our unsecured arrears policy and in response to your valuable feedback, we are pleased to announce that we have made immediate revisions to our criteria in this area.
Unsecured Arrears:
- The customer cannot have more than 5 unsecured accounts in arrears at the point of completion.
The following can be ignored from the max of 5:
- Accounts where the balance is under £300
- Accounts that have defaulted and / or are part of a DMP / DAS
2. Recency rules:
- All accounts with a balance under £300 can be ignored
- Maximum of missed 2 payments in the last 6 months per account
- If the balance is over £500, the most recent payment must have been made
We’ve implemented these changes quickly, so updating our broker portal may take a short time.
If you receive a DiP decline for a case that you believe meets our updated policy, please request a callback from your BDM by clicking here or calling 0800 368 1833.