As of November 2023, Shelby Finance Limited has entered into administration. It’s trading name, Dot Dot Loans, will no longer be able to issue new or additional loans for any new or existing customers. You can compare alternative short term loans here.
Dot Dot Loans is owned by Morses Club – one of the UK’s largest home-collected loan companies was around for over 130 years. Dot Dot Loans offered a fully online service and strived to be simple, fast and fair. You didn’t necessarily need a perfect credit score to get a Dot Dot loan, but much like any other responsible short term lender, your application was subject to credit and affordability checks.
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.
If you were on the Dot Dot loans site and had estimated the cost of a loan, you probably wanted to shop around to see if you were getting a good deal. You could have used the table below to estimate the cost of the loan you had in mind. We compare loans from a range of popular short term lenders. Remember that each lender sets its own min/max loan amounts and terms and its own eligibility requirements.
Unlike a traditional “payday” loan, which you’d pay back in one lump sum on your payday, a number of lenders like Dot Dot loans allowed borrowers to spread repayment over a number of months. This makes for smaller, more manageable monthly repayments but a more expensive loan overall.
| Product Name | Dot Dot Loans Short Term Loan |
|---|---|
| Available Amounts | £100 to £1,000 |
| Representative APR | 1,228.67% |
| New customer maximum | £1,000 |
| Loan terms | 3 months to 9 months |
| Maximum APR | 1,261.8% |
| Soft search eligibility check | |
| Funding speed | Loans are funded every hour, 7 days a week. |
| Repayment period options | Monthly |
| Default repayment method | Direct debit or continuous payment authority |
| Additional repayment methods | Online payment,Phone payment |
| Repay early at any point | |
| FCA registration number | 713984 |
CPAs differ from a direct debit because they give the company being paid the ability to withdraw money from your account whenever they wish and take payments of different amounts without consulting you. Most payday/short-term lenders use a CPA to collect your repayments. You can cancel this at any point by either consulting with your bank or loan provider.
In 2015, the Financial Conduct Authority (FCA) capped interest and fees on all high-cost short-term credit loans at 0.8% per day.
They additionally capped all default charges at £15 and the total cost (interest, fees) of loans at 100% of the original sum. This means you’ll never pay more than double the amount borrowed.
| Option to change repayment date | |
|---|---|
| Repay early at any point | |
| Multiple loans allowed at the same time | |
| Phone number | 0333 240 6215 |
If you’re experiencing any issues, do not hesitate to contact Dot Dot Loans either using their online contact form or phone on 0333 240 6215. Alternatively, if you are still dissatisfied, you can contact the Financial Ombudsman Service (FOS) to deal with your case.
Dot Dot Loans has a “Great” review on Trustpilot of 3.9 out of 5, based on over 2,100 reviews (updated January 2024). Customers praised the customer service and easy-to-use application process.
Whilst short term or “payday” loans offer a quick solution to borrow money in the short term, helping with unexpected financial difficulties you may encounter, they aren’t a long term solution. You should consider your alternatives carefully.
Dot Dot Loans could be a good solution for short term funding due to their great customer service and easy-to-use application process. However, you should only take out a loan if you’re sure you can make the repayments.
If you need to cash a cheque, it may take up to 3 days to clear it with a bank. Cheque cashing services give you immediate access to your money.
What’s the difference between a continuous payment authority, a direct debit and a standing order?
QuidMarket offers an instant decision on loans of up to (or £1,000 for returning customers) and once approved, you can expect the money in your account on the same day. QuidMarket will consider you for a loan even if you have a bad credit history. Find out how other lenders compare.
If you need to borrow cash quickly and tend to use a prepaid card for regular spending, you may be looking to get a payday loan transferred to your prepaid card.
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Anico Finance is an online lender providing personalised, transparent, short-term loans of £100–£1,000 to help cover and spread the cost of an unexpected financial shortfall. Read the full review and compare its rates and eligibility criteria with a range of lenders.
Wageme is an online platform providing flexible and transparent short term loans of £100 to £1,000 for unforeseen financial shortfalls.
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