CashLady: a SafetyNet Credit alternative
- Searching for a loan with CashLady will not affect your credit score.*
- Once you’ve filled out our five-minute online form, your no-obligation quote will be ready in just 60 seconds.
- Our credit broking service is completely free to use.
- If approved, your money could be sent the same day.**
- Any credit score considered.
Start your search for a suitable loan with CashLady today
Looking for alternatives to SafetyNet Credit? The CashLady online form is available 24 hours a day, 7 days a week. You can search for a loan with CashLady if you:
- Are over the age of 18;
- Are a UK resident;
- Have a UK bank account and a valid debit card; and
- Have a regular source of income paid into your bank account.
CashLady as a SafetyNet Credit alternative: how does it work?
From broken boilers to unexpected bills, CashLady understands that when a financial emergency strikes and you need to borrow money, the last thing you want is to spend hours trawling through different lenders to find the right loan for you.
With CashLady’s credit broking service, there are no long forms to fill out and no hoops to jump through. If you’re looking for a SafetyNet Credit alternative loan, let CashLady do the hard work and help you search for a suitable option.
1. Use our online form to tell us a bit about yourself, including how much money you need to borrow and how long for. This stage should take around five minutes.
2. We’ll run a soft search on your financial history with no impact to your credit score and scan our panel of lenders for an ideal match.*
3. In just 60 seconds, we’ll let you know whether we’ve found you a loan. If we’ve been able to match you with a lender, you’ll be redirected to their website.
4. If you’d like to make a full application, the lender will carry out a creditworthiness assessment, which will include a hard search or Open Banking.
5. If the lender is happy with the outcome of their checks, you’ll be offered the loan. At some point during the journey with the direct lender, you’ll be sent a credit agreement. You should read this carefully before you decide whether you want to go ahead and accept the loan.
6. Happy with everything? The lender will let you know when you can expect your money to be sent. Some of the lenders on the CashLady panel could send your funds on the same day your application is approved.**
Who was SafetyNet Credit?
SafetyNet Credit was a trading name of Indigo Michael Limited, which also owned direct lender, Tappily. Indigo Michael Ltd was authorised and regulated by the FCA.
SafetyNet Credit offered a personal line of credit as a loan alternative, which allowed approved customers to borrow up to £500. If their account was handled responsibly, existing customers could apply to borrow up to £1,000.
Can I still apply with SafetyNet Credit?
No, SafetyNet Credit is no longer trading, and therefore, you cannot apply with them.
Looking for a loan between £100 and £10,000? CashLady could help you find a suitable SafetyNet Credit alternative.
CashLady Representative 79.5% APR
What happened to SafetyNet Credit?
Indigo Michael Limited entered into administration on January 9, 2023, following a high number of affordability complaints from customers.
It has been reported that the Annual Percentage Rate (APR) advertised on SafetyNet Credit’s website was misleading and led to many customers being approved for loans that they could not afford.
According to Debt Camel, 75% of SafetyNet Credit complaints submitted to the Financial Ombudsman were won in the first half of 2022.
In July 2022, the FCA proposed new rules for Indigo Michael Limited, which they hoped would resolve further affordability complaints.
The company was unable to sustain itself and ceased trading in 2023.
What’s happening with SafetyNet Credit? Can I still make a complaint against SafetyNet Credit?
All outstanding SafetyNet Credit loans were written off as of April 9, 2024, with this being recorded on borrowers’ credit files as a partial settlement. This did not include any loans that had been sold to a debt collector before January 2023.
It’s no longer possible to make a complaint against SafetyNet Credit; the final day to submit a complaint was April 15, 2024.
How can I contact SafetyNet Credit?
SafetyNet Credit no longer exists, and therefore, their contact details are no longer valid.
As discussed, complaints regarding SafetyNet Credit had to be sent by April 2024.
Need help searching for a loan? Got questions about using a credit broker? You’re welcome to contact CashLady here.
I’m having trouble with money; where can I get help?
Whether you’re worried about your current level of debt or have concerns about the cost-of-living, please know that you can access free advice from a range of charities and organisations, including StepChange, MoneyHelper, Citizens Advice, and National Debtline.
*If you’re matched with a loan through CashLady’s credit broking service and choose to make a full application with the lender, you’ll need to undergo a creditworthiness assessment. This will include a hard search or Open Banking. Please be aware that a hard search will remain on your credit file for up to 12 months, and multiple hard searches in a short space of time will harm your credit score.
**Payout timescales vary between lenders. The time it takes for the money to become available in your account will depend on your bank’s policies and procedures.
CashLady Representative 79.5% APR