Pogo Loans

Update: In January 2018, Pogo Loans Limited was dissolved.

Information correct as of 20/04/21 (CompaniesHouse)

Are you considering a loan with Pogo Loans? Or perhaps you already have one, and you’re looking for further information about the company. Either way, we’ve compiled the most important, in-depth information about Pogo Loans for you in this loan guide. 

About – Who are Pogo Loans?

Pogo Loans offers loans to consumers in the UK .

Find your best debt solution

This 4 question debt calculator will tell you if you’re eligible.

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Loan interest and other charges

There is now a price cap which has been introduced by the Financial Conduct Authority, which is there to protect borrowers. This is what you need to know.

  • There is a cost cap of 0.8% per day on the amount you have borrowed – including interest and all fees charged.
  • A cap of £15 on default fees – interest may still be charged after default, but it cannot exceed rate of 0.8% per day.
  • A cost cap of 100% – you must not be asked to repay more than 100% of the money you have borrowed.

The limits are for credit agreements with an interest rate of 100% or more a year and that are due to be fully or substantially repaid within a year.

There were other regulations which applied from May 2017. Lenders are required to state information on their products on a price comparison website, which must be authorised by the FCA and borrowers must be provided with a summary of the cost of borrowing.

Do you want to make a complaint about Pogo Loans UK?

You can speak to the Financial Ombudsman by phone on 0800 023 4567 or 0300 123 9123.

What you need to know about Continuous Payment Authority

You may not have heard of it but Continuous Payment Authority (CPA) is a common part of an agreement with loan companies.

The regulations have changed though, and are more in favour of the borrower. The new legislation states that the loan company may only attempt to take the payment twice. If it fails after this, they can’t keep trying. They are also not permitted to take partial payments, only full payments, unless prior permission is given.

Is there any help available?

Some organisations will be able to provide you with free advice and it is worth contacting them if you want to talk about your debt issues and get some help. These are just a small selection of some options.


CONC 2.1 Application

CONC 5.2A Creditworthiness assessment

CONC 13.1 Application

About the author

Scott Nelson

Scott Nelson is a financial services expert, with over 10 years’ experience in the industry, including 6 years in FCA regulated companies. Read more
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