Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Do I still need to repay my loan?
Yes. The terms and conditions of all loans remain as agreed when the loan was taken out and payment remains due. Your loan was with Oakam Limited which traded using https://oakam.com/ or https://loal.app/ website.
What will happen if I don’t repay my loan on time?
The terms and conditions remain as agreed when the loan was taken out. This means if you miss a payment your credit score could be affected.
Can I take out a new loan or add additional funds to my existing loan?
Oakam Ltd trading as Loal is unable to provide further lending.
I can’t afford to repay my loan. What should I do?
If you can’t repay your loan on time, please contact the Customer Support team straight away at help@oakam.com. The following services are also available:
| Entity | Website | About |
|
Citizens Advice |
People can speak to advisors in person at a branch or on the phone. | |
|
The Money Advice Service |
A government-backed service that can be contacted by telephone and has budget calculators. | |
|
StepChange |
Debt charity that can provide free advice and a free debt management plan. | |
| National
Debtline |
Offers free guidance and budget planners. |
How do I repay my loan?
Your loan should be repaid in accordance with the timetable agreed when your loan was taken out. For more information on repayment arrangements, your Continuous Payment Authority and alternative payment methods, please contact our Customer Support Team. In case your debit card details have changed, please update your card online before your loan repayment date.
There will be no change to our bank details. If you receive any requests to make payment to an alternative account, please inform the Customer Support team straight away at help@oakam.com.
Never give personal or account details to anyone who contacts you unexpectedly. We will never ask for your bank details or your security details such as your password.
I need to talk to someone about my loan or I have a question which is not answered here.
If your question is not covered in our FAQs, please contact the Customer
Support Team at help@oakam.com.
The call centre will remain open as normal, but please be aware that we will be handling a high number of queries and your wait may be longer than usual.
If your question is still not answered, please email your query to restructuring@krestonreeves.com
The Administrators’ team will also look at all queries emailed to these addresses. Please be aware that we are expecting a large volume of queries. You may therefore not receive an immediate response.
Will I still be able to access my account during the administration?
You will continue to have access to the website and your account.
Oakam Limited,
Sunley House,
Bedford Park,
Croydon,
CR0 2AP
Registered in England & Wales, company number 5878249.
All loans subject to status, terms and conditions apply.
Oakam Limited is authorised and regulated by the Financial Conduct Authority, Financial Services Register number 678734.
Copyright © 2022 Oakam
Andrew Tate and James Hopkirk of Kreston Reeves LLP were appointed joint administrators of Oakam Limited trading as “Loal” (the “Company”) on 24 February 2022. The affairs, business and property of the company are being managed by the Joint Administrators. The Joint Administrators act as an agent of the company and without personal liability. Further information is available on the Kreston Reeves website.
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