Adequate Explanations

Adequate Explanations

An Explanation of your Loan Agreement

Before you take out a loan with us, you should read the Pre-Contract Credit Information, together with our explanation which together make up the pre-contract information. You should also read the terms and conditions of the credit agreement and ensure that you understand the terms of the loan and any charges that may be applied, and that the credit offered to you is suitable for your circumstances.

Please do not sign the credit agreement until you have considered all the information provided and are satisfied that you understand it, and that you still wish to take out the loan from Western Circle Limited t/a

Our Product

  1. We offer loans of between £300 and £1500 over periods of between 3 and 9 months. Interest is charged at a fixed rate of up to 0.798% per day.
  2. Representative example: borrow £700 for 6 months. 1st monthly repayment of £168.45, 4 monthly repayments of £224.60, last monthly repayment of £112.20. Total repayment £1,179.05. Interest rate p.a. (fixed) 185.39%. Representative APR 611.74%. Our loans are available for 3 to 9 months depending on the loan amount - rates between 295.58% APR and a maximum APR of 1294%.
  3. If your application is successful and you have signed your loan agreement, your loan will be paid directly into your nominated bank account, free of charge by BACS. Although the funds should reach your nominated bank account on the same day, this can take up to three business days of the loan agreement being signed by you.
Continuous Payment Authority (CPA)

  1. When you take out a loan with us we will ask you to provide us with a Continuous Payment Authority (“CPA”) to collect your payments by debit card directly from your nominated bank account. We will collect the repayment due, including interest and any applicable charges, by CPA on the agreed repayment dates (as will be set out in your loan agreement).

    We will contact you at least three days before the agreed repayment dates, to remind you when each repayment is due. We may do so by email, text or phone.
  1. If the first repayment transaction fails, then we will make a further attempt on the same day to make sure we have not missed your salary deposit. The attempt will be for Total Amount Payable.

    Where we cannot obtain the amount outstanding on the due date, we will make immediate attempts on that day and the following days to contact you by phone, email and/or text message and find out why you have been unable to meet your repayment obligations.

    We urge you to contact us as soon as possible to explain any repayment difficulties and avoid incurring unnecessary charges. If you are experiencing financial hardship we will show forbearance and work with you to agree on an alternative solution.

    If we cannot contact you or you unreasonably refuse to agree on an alternative, we will continue with our collection procedures which may, after every avenue has been exhausted, include legal action.
  1. If our attempts to obtain payment have failed twice, and you then authorise us to take payment from your card, this authorisation will reset the CPA for further instalments.
Wish to cancel your CPA?

7. To cancel this CPA you may:

  • Contact your bank directly.
  • You may ask us to cancel it in writing, by post to Western Circle Limited t/a, 2a Highfield Avenue, London NW11 9ET
  • By emailing

Please be aware that, if you do cancel your CPA, you will still owe any outstanding debt and you will need to find an alternative method of payment on the due date to avoid going into default

  1. We may be able to repay any amounts we have taken using the CPA where we can see evidence that this has caused you to fall into financial difficulty or to miss priority debts such as rent, mortgage payments or utility bills.
Additional Fees

  1. If you do not make a payment of the amounts payable on your scheduled repayment dates, you will be liable to pay interest on the overdue amount at the interest rate shown in your agreement until the outstanding balance is repaid.
  2. In the event that we were unsuccessful in collecting the amount due to us we will default your loan after 60 days. A one time charge of £10.00 will be added to your account following the first missed payment. Legal proceedings may be contemplated and we may pass your account to a Debt Collection Agency (“DCA”).
  3. You will be liable to pay our reasonable costs (including legal fees) if we take steps to enforce this agreement against you.

  1. We may report any non-payment to credit reference agencies. This could impair your credit rating and make it harder to obtain credit in the future. Lenders, Phone companies and Landlords are some of the parties who normally consider your credit rating when making and assessing a contract.

  1. You may withdraw from this Agreement without giving any reason within 14 days. If you wish to withdraw you must advise us in writing either by:

  1. If you do decide to cancel your agreement with us, you will be required to repay the amount of credit without delay and no later than 30 days after giving notice of withdrawal. You must also pay the interest accrued until the date of repaying it. We will tell you upon request the amount of interest payable daily. You can contact us at to agree a method of repayment.

This was written to help our website visitors understand our business and code of practice. We simplify the language to make it easier for everybody to know who we are, what we provide and how we do it. If you have any comment or require additional information about your proposed agreement, please contact us. We have developed some of the industry leading procedures to ensure we serve our clients with dignity, integrity and truthfulness.

We’re available:
  • Mon – Fri: 9am – 5:30pm

Written by: Kelly Richards
Last modified: