Providing outstanding debt or default information for a loan

As part of your loan application with London Mutual Credit Union, we require detailed information about any outstanding debts or defaults you may have. This helps us make responsible lending decisions and ensures your loan is tailored to your financial situation. Read on for precise steps on sharing the required information and the supporting documents you may need to provide.

What information to provide about outstanding debts or defaults

• The name of the creditor or lender for each outstanding debt/default
• The current outstanding balance for each debt
• Confirmation of whether you are currently making payments
• The amount and frequency of your payments
• If you are working with a debt management company, provide the company’s name and your monthly payment amount

Submitting supporting documents

You may be asked to submit documents confirming your outstanding balance or payment history. This could include recent statements, payment plans, or a letter from your debt management company. Providing this evidence helps verify your financial information and can speed up your application.

How to send us your debt information

1. Gather all required details as listed above for each outstanding debt or default.
2. Scan or photograph any supporting documents, such as statements or letters.
3. Submit the information using our secure online application portal or email it to loans@londonmutual.co.uk, quoting your application reference.

Conclusion: Supporting responsible lending

Supplying complete and accurate debt information ensures a fair assessment of your loan application at London Mutual Credit Union. Our supportive team is here to help guide you through every step, so please reach out if you need further assistance with providing your documents or information.