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Positive Outcomes

Loans by MAL is committed to providing positive customer outcomes by making responsible lending decisions to all our customers. Our creditworthiness assessment ensures the loan is affordable and sustainable for the duration of the loan term. However, things can change, and if they do, Loans by MAL is committed to supporting our customers through a range of different forbearance options. 

Things to Consider Before Taking out a MAL Loan

You should consider the following 10 points before taking out a MAL loan:

  • Always shop around for the best deals to make sure MAL is the cheapest option for you
  • Always look at the APR and total amount of interest you will have to pay
  • Try using comparison sites to find the best deals
  • Only take out a loan if you really need it
  • Once you have an offer, take your time to consider if the monthly repayment is going to cause you any financial difficulties
  • Don't borrow money on the spur of the moment
  • Only borrow the amount you need
  • Make sure the repayment date is in line with when you get paid
  • If you're not sure about any part of the loan ask us for clarification
  • Try to improve your credit score before taking out a loan as it may save you money

Things to Consider After you have Taken out a Loan

After you have taken out a MAL loan you should consider the following 10 points:

  • Is the repayment date working for you? If not contact us and we can change your payment date
  • Are you managing the repayments without causing yourself any financial difficulties? If you're struggling in any way contact us
  • Do you need to reduce your payments? If so contact us
  • Do you need to take a payment holiday to help out with a short term issue? If so contact us. We can help
  • Contacting us for help will not impact your credit score
  • Have we contacted you? If so reach out as there might be an issue we need your help to fix
  • Can you afford to repay early as this will save you money
  • Have any of your contact details changed? If so get in touch so we can update them
  • When your loan is repaid only borrow again if it’s for an essential reason
  • Keep track of your credit score as this may make borrowing in the future cheaper

If you need us, reach out

If you need to know anything about your loan, if you’re struggling to pay or you’re having any difficulties then please reach out so that we can try to help. If you don’t want to talk to us, you can reach us by email or text. We will always try to respond as quickly as we can. You can reach us by any of the below methods:

Call us on 01202 138 850

Email us at [email protected] 

Text us on 07984 352 847

Monday to Thursday 9:00am to 6:00pm
Friday 8:30am to 5:30pm

You can also have a look at the Extra Support page on our website for guidance on what to do if you’re struggling in any way and you don’t feel comfortable speaking with us