What if I decide not to go ahead with the loan? Can I cancel my application?    

Yes, you can cancel your application at any time, although the record of your application will still appear on your credit record.

When you receive the documentation offering you the loan, you will be told that even after you have received the loan, you will still be entitled to a 14 day cooling off period. This means that you can return the loan cheque or repay the money in full within the cooling off period and the agreement you have signed will be cancelled.

This cooling off period is your legal right under the UK's Consumer Credit Act.

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