<%@ Page Language="VB" AutoEventWireup="false" CodeBehind="FAQ.aspx.vb" Inherits="KBN.FAQ" MasterPageFile="~/_masterpages/Site01.master" Title="kabayanfinance.co.uk - FAQ" Description="KabayanFinance" %>

Frequently Asked Questions
	Is a Kabayan Finance Payday loan right for me?
	Payday loans can ease the cash requirements in the short term. They may be useful to cover unexpected or emergency costs. For example : • Payment for emergency car repairs or medical bills • "Padala" for unexpected costs at home A payday loan is not suitable for longer term sustained borrowing as it is an expensive form of credit if used in this way. You should repay the loan on the due date and not borrow more than you can afford to repay. If you do not repay the loan on time and we have to take recovery action you may incur additional charges and you may damage your credit rating making it more difficult to obtain credit in the future. Please refer to the "Our Charges" page for more detail on the costs of taking a loan and charges in the event of default.
	What other products does Kabayan Finance Offer ?
	We now offer higher value, lower interest, instalment loans with repayment terms over 3, 6 or 12 months. We will still assess the affordability of the loan depending on your circumstances and you should still consider carefully whether you are able to make the loan repayments on time.
	How soon can I get the funds?
	• You can apply to borrow up to £1,000 but we may offer a lower amount depending on our assessment of your circumstances and your ability to repay. For new customers we typically restrict the amount of the first loan to £300. Our processing times depend on office opening hours (see contact information for details).Once your application is complete, we have been through our approval process and you have accepted our terms and conditions you can either have the funds deposited within the same working day for an extra charge providing your bank accepts Faster Payments (see our charges) or they will be sent in 2 working days. • You will receive notification by email and sms to confirm that the money has been deposited to your account. • New instalment loan customers are not restricted to £300 for the initial loan.
	What is the Continuous Payment Authority or CPA ?
	When you sign the loan agreement you are authorising us to take the repayment of your loan directly from your bank account via your debit card. This is called the Continuous Payment Authority or CPA for short. Full details of how the CPA works including the right to cancel will be provided to you as part of the Important Information Sheet provided with your documents to ensure that you understand but if you are unclear please contact customer services and they will explain everything to you. See below for a summary of the CPA process. We will attempt to take the repayment of your loan on the date that you have told us that your salary will be paid into your account. If that attempt fails as a result of, for instance, a delay in your salary entering your account we will try and contact you on that date. If we are able to contact you we will not make any further attempt to take repayment without agreeing the amount of the repayment with you. You have the right to cancel the CPA at any time up to close of business on the day prior to the due date. You may cancel the CPA by notifying Kabayan Finance directly or contacting your payment service provider. If you do cancel the CPA you will need to repay your loan by an alternative method on the due date or you will go into arrears. This may result in further charges and a default on your credit record which may make it more difficult to obtain credit in the future.
	What is a "rollover" ?
	This is where instead of repaying all of your payday loan plus the interest on your due date you pay only the interest and carry forward the principal part of the loan to the next month incurring another month interest charge. We will consider rollovers if you ask us but you should be aware that this is an expensive way of borrowing and may not be sustainable in the longer term. An alternative is to agree a short term repayment plan with us where you can make partial payments of principal and interest at a reduced interest charge for a three month period. We are also able to consider offering longer term instalment loans for higher amounts at lower interest rates than the payday loan product. The amount of the instalment loan that we offer will be based on an assessment of the affordability of the loan and your individual circumstances.
	What happens if I can't repay my loan on time ?
	If you are in financial difficulty please contact us. We will deal with you sympathetically and do what we can to help you to pay what you owe. We can make a payment arrangement to allow you more time to repay your debt over a longer period to avoid going into default which may incur additional charges and impair your credit record which may make it more difficult to obtain credit in the future.