I lost my job due to coronavirus and need a top up. Can Oakam help?
Thank you for continuing to trust Oakam. As a responsible lender, all our loans are subject to an in-depth affordability assessment. We check income and expenditure, credit file information as well as current loan payment behaviour.
If you have lost your job or circumstances have otherwise changed and you are having trouble repaying your current loan, we would urge you to not apply for further credit at this time. Please contact us immediately so we can reassess your circumstances. You can contact our customer services team on the following channels:
If you have wider financial concerns, you can also seek independent advice from an organisation such as Citizens Advice or Step Change.
I am an Oakam customer who has been impacted by coronavirus. What should I do if I can’t afford my repayments?
I expect to be impacted by coronavirus but I’m not sure yet. What should I do?
Please continue to repay your loan as normal. However, please contacts us if your circumstances change in the future.
For information and advice on what coronavirus means for you, visit the Citizens Advice website.
If you haven’t already, please let us know exactly how coronavirus has impacted you by taking a two-minute Coronavirus Customer Impact survey. This will help us to provide you with better products and services.
I am already an Oakam customer so why was my top up application declined?
There are a variety of reasons a loan application might be declined. All of our loans are subject to a series of checks to determine affordability, credit and identity.
Due to the unprecedented events caused by coronavirus, we are currently unable to provide loan decisions for non-automated loan applications.
Please accept our apologies for any inconvenience caused. We hope to be able to better assist you in the future and advise reapplying for an Oakam loan again in 90 days.
What are you doing to help customers during coronavirus crisis?
A large number of our customers are being impacted by coronavirus. So, in the coming days and weeks, we will introduce coronavirus assistance measures. As a valued Oakam customer, our priority is to help you remain healthy and safe, and to provide the support and service you need.
In order to help us tailor our products and services, please let us know exactly how coronavirus has impacted you by taking a two-minute Coronavirus Customer Impact survey.
Check back in the Oakam app on a regular basis to stay informed of all updates.
Can I request a payment holiday due to coronavirus?
If you have experienced a loss of income due to coronavirus, and you are experiencing difficulty repaying your loan, please get in touch with us immediately. You may be able to defer your repayment for a month by requesting a payment holiday.
This will pause your repayment for one month without affecting your credit file. There will be no additional interest or other charges applied during this payment holiday period. And, should you already have a payment deferral, we will not report any further arrears to credit reference agencies.
In order to request a payment holiday, please get in touch with our customer service agents on