FAQs

Are there any set up charges?

No – glo doesn’t apply any charges. In fact, we have no fees for anything! All you do is pay interest on the exact amount you borrow, for the exact number of days you borrow it.


Can I change my payment date?

Yes. Please call us on 0330 303 7070 and we’ll be happy to arrange this for you. Please remember though, that if you delay your payment, it might cost you more in interest.


Can I make an extra payment on my loan?

Yes, you can. And if you have a bit of extra money, that’s a great thing to do because it’ll save you money as you could pay less in interest. Just call the glo team on 0330 303 7070 and we’ll sort it all out for you.


Can I pay my loan off early?

Yes, definitely. There are no fees to pay, you just pay off the balance on your loan and we’re done. You’ll save a nice bit of money if you can do that, as you’ll pay less in interest.

You can also make a part payment at any time, which would reduce the interest you'll have to pay.

Call the glo team on 0330 303 7070 if you’d like to know the balance on your account today or want to clear it off.


Does my Guarantor have to be working?

Not necessarily. Your Guarantor needs to have an income that we can verify; and be able to repay the loan if you become unable to. If you’re not sure if your Guarantor’s income will be suitable, just give us a call on 0330 303 7070 (or ask them to).


Does my Guarantor need to be a homeowner?

No – unlike some other guarantor lenders, we don’t insist your Guarantor is a homeowner. A tenant is absolutely fine, just as long as they are financially stable.


How can I check my loan balance?

Just give us a call on 0330 303 7070 and we’ll look it up for you.


How do you work out the interest I pay?

We calculate interest daily on your outstanding balance and the interest rate is fixed for the duration of your loan. This means that if you make extra payments, or settle your loan early, you can save money by paying less interest. However this also means that you may pay extra interest on any missed or late payments.

We only charge interest for the actual amount you’ve borrowed from us, for the actual number of days you borrow it.

If you miss a payment, this could mean that you have to pay interest incurred on the balance and the interest outstanding.


How much can I borrow?

You can borrow an amount between £1,000 and £7,000 – it just has to be rounded to the nearest £100, as long as you can afford the repayments, obviously.


What do you mean by separate finances?

You and your Guarantor must have separate incomes and cannot share bills. If you don’t have separate finances, any change in circumstances for one of you could also affect the other, which would make a loan more difficult to manage comfortably. We don’t want to put people in that situation.


What do you mean by shared finances?

You and your Guarantor cannot have a shared income or share the bills. If you normally share money, any change in circumstances for one of you could also affect the other, which would make loan repayments more difficult. We don’t want to put anyone in that situation.


How quickly can I get my loan?

That’s a tricky question because no two applications are the same and we do treat everyone as an individual. But if everything goes smoothly and we have no trouble contacting you or your Guarantor, we should be able to get your money to you within 24 hours.


How will I get the money?

Once everything’s checked, signed and agreed, we’ll transfer your loan directly into your bank account. Some other lenders send the money to your Guarantor to pass on to you, but we keep it simple and send it directly to you.


I can’t find a Guarantor - can I still get a loan from glo?

No – sorry. A glo loan has been designed to allow people to borrow more money, over a longer period, at a lower APR because someone has agreed to be their Guarantor. It’s the Guarantor that makes this work.


I have an IVA – can I still get a glo loan?

If you’re currently in an IVA (Individual Voluntary Arrangement) or Trust Deed you can’t get a glo loan at the moment.

However, if your arrangement has been completed, then it’s fine. We won’t hold your past against you and as long as you have a Guarantor and can afford the repayments, we’ll be happy to lend you the money you need. Additional Ts&Cs apply.


What if I’m bankrupt?

If you’re currently bankrupt you can’t get a glo loan at the moment.

However, if your bankruptcy has been discharged, then it’s fine. We won’t hold your past against you and as long as you have a Guarantor and can afford the repayments, we’ll be happy to lend you the money you need. Additional Ts&Cs apply.


I’m on benefits – can I get a loan?

Benefits can come in many different shapes and sizes. As long as you can afford the repayments on your loan, we should be able to help. If you want to check with us just call the glo team on 0330 303 7070 .


I’m struggling this month – what can I do?

CALL US! If you think you’re going to have a problem with a payment, you should call us as soon as you can. The sooner we know there’s a problem, the sooner we can start to help. We don’t tell people off – we just do everything we can to make things easier! You’ll probably be surprised how understanding we are, so don’t be afraid – just pick up the phone now 0330 303 7070 .

Alternatively, if you’re worried about things and want more information about how to manage your money, there are a number of free and independent organisations which can help.

StepChange
0800 138 1111
Free advice on debt problems and finding the best solution for you.
Money Advice Service
0800 138 7777
Offers free, unbiased and independent advice to people who want to manage their money more effectively. Face to face sessions available.
National Debtline
0808 808 4000
Free, confidential debt advice service run by the Money Advice Trust.

What happens if I miss a payment?

If you miss a payment, we want to speak to you as soon as possible so we can find out what the problem is and start helping. As soon as you miss a payment we are obliged to let your Guarantor know, because ultimately if you can’t pay, they might have to. But our first priority is to help you through a tricky time. So don’t be scared – give us a call straightaway on 0330 303 7070 – we really want to help.

Don’t worry – we won’t ask your Guarantor for money until we’ve really tried to sort things out with you first.

Oh, and we don’t charge any fees for late payment, so although you’ll be paying additional interest on the missed amount, we won’t be adding extra costs to make things worse.

Alternatively, if you’re worried about things and want more information about how to manage your money, there are a number of free and independent organisations which can help.

StepChange
0800 138 1111
Free advice on debt problems and finding the best solution for you.
Money Advice Service
0800 138 7777
Offers free, unbiased and independent advice to people who want to manage their money more effectively. Face to face sessions available.
National Debtline
0808 808 4000
Free, confidential debt advice service run by the Money Advice Trust.

What fees are there?

None at all. glo doesn’t charge any fees for setting up a loan, missing a payment or settling early. All you do is pay interest on the exact amount you borrow, for the exact number of days you borrow it. But you might have to pay additional interest if you miss or are late with any of your payments.


Why have you declined my application?

We always want to help people get the money they’re looking for, but we are a responsible lender. If we believe that the loan could put you in financial difficulty or make things worse for you, we won’t lend you the money. We know it’s upsetting to be declined, but we only do it if we think it’s the best thing for you.


Why have you declined my Guarantor?

It’s a Guarantor that makes a glo loan special and lets us offer larger loan amounts over longer repayment terms and at an APR that won’t scare either of you.

So we have to be sure that all Guarantors are financially stable and could afford the loan if they were called upon to take over responsibility for it. We wouldn’t be helping anyone if we made loans that got people into difficulty.

Your Guarantor can’t share finances with you either, because if you have problems paying, that would probably mean they will too.

A Guarantor must also meet our age criteria (aged between 21 and 69 at the start of the loan).

If you or your Guarantor want to discuss your specific circumstances, please call us on 0330 303 7070 and we’ll do what we can to help.


Does my Guarantor need to take legal advice?

We’ve tried to explain the role and responsibilities of being a Guarantor on our website and in our documentation, however if your Guarantor feels they need independent advice, they should speak to a solicitor to ensure they fully understand what they are agreeing to do.


Suspicious email?

What to do if you think you have received a phishing email.

  • Do not reply to the email and NEVER follow any links
  • Forward the email to us at phishing@glo.co.uk
  • Delete the email from your inbox

What if I’m not happy with glo?

The glo team always aims to provide you with the very best service at all time, however if something’s gone wrong, please speak with us and tell us what we’ve done to annoy you. If you still don’t feel we’ve handled things properly you can take a look at our complaints process here.


How does a personal loan differ from a guarantor loan?

With a Guarantor loan you need someone you know to act as a Guarantor. If you’re unable to make your repayments for any reason, your Guarantor agrees to cover them.
A Personal loan doesn’t require a Guarantor. This means that you’re responsible for the repayments.