Last updated - 08/09/2020
Where we say “Tully”, “we”, “us” or “our” we mean Tully, a trading name of Fair Way Forward Limited, a company registered in England and Wales with company number 11308960 whose registered office address is at 1 Hammersmith Broadway, London, United Kingdom, W6 9DL.
We are authorised and regulated by the Financial Conduct Authority (the “FCA”) under reference number 811098. You can check our registration on the Financial Services register by visiting https://register.fca.org.uk/ or by contacting the FCA on 0800 111 6768 (freephone) or 0300 500 8082 or by visiting https://www.fca.org.uk/contact. We are authorised by the FCA to provide debt counselling, debt administration and credit information services. We’ll let you know promptly if at any time our authorisation is amended, removed or suspended.
Tully is provided by Fair Way Forward Limited. Where, within the app, you use or view account information this is provided by Fair Way Forward acting as a registered agent of Business Finance Technology Group Limited (trading as OpenWrks) which is registered with the Financial Conduct Authority under the Payment Services Regulations 2017 (register reference number 709589) for the provision of payment services.
We provide a free online platform to take the stress out of debt by helping you manage your finances and any debts you may have. We provide debt counselling, debt advice and debt management services which includes, for example, helping you register for payment relief, negotiating payment plans with your creditors, managing the debt reconciliation process, and giving you access to budgeting tools and money coaching (the “Services”).
You do not and will never have to pay us for our Services. There may be times in the future where we bring out new products and services that might attract a charge, but we will let you know when a charge would apply, and you will not have to choose those products or services if you do not want to pay for them.
We make our money from negotiating a fee with your creditors where we help you to agree an affordable repayment plan with them. This will either be a percentage (%) of the amount you repay to them or a fixed fee for the work we undertake to agree repayment plans with creditors on your behalf. In neither case will any fees we receive from your creditors reduce the amount you pay to them to reduce your debts.
When you create an account on our platform you will be asked to confirm your acceptance to these terms and conditions, after which point you will become a Tully customer.
By creating an account, you confirm that you:
You may only use our Services if you meet the above requirements.
We may refuse to provide you with Services or cease to provide you with our Services, at any time and at our sole discretion. Examples of when we might do this could include if:
We aim to help you manage and pay off your debts. We do this by offering one of more of the services below:
In order to give you a picture of your spending, debt and how much you may afford to repay your creditors, we will build your Tully Budget. To do this, we need access to: (i) your credit report and credit score from credit reference agencies; and (ii) financial information from your bank.
Credit reference agencies
By agreeing to these terms and conditions you agree that we may obtain information from your credit report from credit reference agencies once a month on your behalf acting as your authorised agent and representative. This means that we may obtain this information as if we were you asking the credit reference agencies yourself.
We will retrieve this information for you free of charge by conducting a “soft credit search” of your credit history filed with the credit reference agencies. A “soft credit search” is a search on your credit file which cannot be seen by lenders, so it will not affect their decision on whether to lend to you or not. Carrying out a soft credit searching (“soft-searching”) allows us to see what your credit score is without affecting your credit score.
By using our Services, you agree that we may soft-search your records and, where applicable, those of your financial associates (for example, anyone you have a mortgage or joint loan with):
Soft-searching is a core aspect of our Services. We need to have the ability to do this to provide you with your Tully Budget. You may opt-out of soft-searching at any time without penalty or charge by terminating your Tully account by logging into the Tully platform, but please note this means you will no longer have access to our Services.
Your financial information
We need access to financial information from your bank accounts to be able to build an accurate picture of your income and expenditure to make sure you can afford your repayments. The easiest way to do this is by signing up with Openwrks, our “Open Banking Provider”. Our Open Banking Provider enables you to access your financial information and share it with us securely and directly from your bank account (see clause 6 below for more details), subject to our Open Banking Provider’s terms and conditions of service. If you do not sign up to use our Open Banking Provider’s services, you will not be able to continue with the Services.
Your Payment Relief Application
Your Debt Solutions
IT IS IMPORTANT TO NOTE that you need to make your own decision about whether any offers we present to you are right for you. Any decisions you make on the basis of the information displayed by us on our website or apps are purely your own choice. Please also be mindful that we do not control any third party’s products and/or services and therefore do not endorse, warrant or guarantee the reliability or accuracy of any such products and/or services. We strongly recommend that you read and understand any such third party’s terms and conditions before signing up to their products and/or services.
Based on your budget we may present you with the option to enter into a debt repayment plan with us which we call a “Flexi-Plan”. If you choose to enter into a Flexi-Plan you give us permission to act on your behalf and negotiate payment plans with your creditor(s). If you wish to enter into a Flexi-Plan with us we will need you to:
· enter into our Flexi-Plan Agreement, which contains further information on the Service and which will give us and your creditor(s) authority to discuss and agree payment plans on your behalf;
· have completed your Tully budget and signed up with our Open Banking Provider to share your financial information (see clause 6) or have completed a manual digital budget with Tully; and
· open a payment account with Modulr, our “Payment Platforms Provider” (see clause 6); and
· set up a direct debit to transfer your agreed repayment amount from your bank account to your new account with our Payment Platforms Provider, so we can distribute payment to your creditor(s) according to the payment plans we have agreed on your behalf with your creditor(s).
We have teamed up with innovative companies such as Openwrks, as our “Open Banking Provider”, to provide you with our Services.
We may amend these Terms, our website, apps and our Services at any time. Before we implement changes to our terms and conditions that affect your rights and obligations, we will give you at least fourteen (14) days’ written notice and provide you with a description or a copy of the changes. If you do not wish to accept any such proposed changes then you may terminate these terms and conditions in accordance with clause 13 below. Your continued use of our Services will mean that you accept any such changes in our terms and conditions.
For instance, we:
Some of the information we display is based on information received from third parties (including your credit report and financial information from your bank) and we do not have the ability to change this. We are not responsible for the accuracy of such information or for your reliance on that information. If you believe any information displayed by us may be incorrect, please let us know as soon as possible by contacting [email protected]
If you believe anything regarding your credit information is incorrect, please contact the relevant credit reference agencies directly.
We do not guarantee that:
We, or our licensors, own all intellectual property rights in our website, apps and the material published on them. All of the content on our website and apps is subject to copyright with all rights reserved.
All images, trademarks and brands displayed on our website or apps are protected by intellectual property laws and may not be reproduced or appropriated in any manner without permission of their respective owners.
You must not:
You may download, print or screen grab content from our website or apps for your personal use and information only, provided that you adhere to the restrictions noted above. You further acknowledge and agree that you:
By submitting the Content, you confirm and agree that the owner of that Content has expressly agreed that, without any particular time limit, and without the payment of any fees, we may use the Content for the purposes set out in these terms and conditions.
Please read this clause 12 carefully, as some of the terms exclude or limit our liability for any losses suffered by you in connection with your use of our Services.
Nothing in these terms and conditions limits our liability for:
To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to our website and apps, any content on them or Services accessed through our website or apps, whether express or implied.
We will not be liable to you or any third party for any loss, damage or cost suffered or incurred, whether in contract, tort (including negligence), breach of statutory duty or otherwise, even if foreseeable, arising out of or in connection with:
You agree that:
You understand that these Terms and any other consents or authorisations you agree to in connection with using our Services will be a legally binding agreement between you and us.
These Terms shall commence from the date you create your account on our website or apps and will continue for as long as you use our Services or have an account on our website or apps.
We may terminate these Terms and your use of our Services, website, apps or any products or Services contained in, or provided or obtained through our website or apps at any time for any reason and with no liability to you.
If you no longer wish to receive our Services, you can close and delete your account by logging into your Tully account and requesting deletion of your account through webchat. If you do this, you will terminate the Agreement and not be able to access the information we hold about you through our website or apps, and our obligations under any Flexi-Plan agreements shall immediately cease and we shall have no liability to you under those Flexi-Plan agreements or these Terms.
If your Tully Account or your Flexi-Plan Agreement terminates you will still be liable to your creditor(s) for any unpaid debt under any payment plan(s) we have helped negotiate between you and your creditor(s). If you do not adhere to your obligations under such payment plans, your creditor(s) may cancel your payment plan agreement and continue with collection/enforcement action against you for the repayment of your debts including adding further interest and charges. If you have used your Tully account to register for Payment Relief and your Tully Account terminates we will inform your creditors and this may impact any payment relief your creditors have agreed with you. If you use Tully to register for Payment Relief and you fail to re consent every 90 days with our Open Banking Providers Service we will inform your Creditor that we cannot evaluate your budget any longer and this may impact your payment relief.
The headings used in these Terms are for convenience only and shall not affect their interpretation.
In these Terms, unless specified otherwise, use of the singular includes the plural, use of any gender is deemed to include every gender and any reference to a person includes a corporation, a partnership and any other body or entity, and vice versa.
Use of the words, includes or including or similar words or phrases means without limitation and the use of these or similar words or phrases shall not limit the meaning of the general words.
We shall not be liable for any delay or failure to provide our Services or perform any obligation under these Terms if the delay or failure is caused by circumstances beyond our reasonable control.
Nothing in these Terms is intended to confer on any person any right to enforce any term of these Terms which that person would not have had but for the Contracts (Rights of Third Parties) Act 1999.
Each of the provisions of these Terms (or part of any provision) is severable. If any such provision is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction that shall not affect the legality, validity or enforceability of the other provisions of these Terms. The provision itself shall apply with the minimum modifications necessary to make it legal, valid and enforceable.
No delay or omission by us or you in exercising any right, power or remedy provided by law or under these Terms shall affect that right, power or remedy; operate as a waiver of it; or operate as an affirmation of these Terms.
You may not assign any of your rights or obligations under these Terms.
These Terms constitutes the whole agreement and understanding between you and us in relation to the use of our Services. Except in case of fraud, all previous agreements, understandings, undertakings, representations, warranties, promises and arrangements between you and us relating to the subject matter of these Terms or your use of our website, apps or our Services are superseded, except as otherwise expressly stated in these Terms.
You agree that any notices and other communication may be given by us by email or posted on our website and this will comply with any legal requirement for such communications to be in writing. You also agree that any notice or other communication made in such manner will be deemed received by you 24 hours after email or posting.
These Terms and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with English law and shall be subject to the exclusive jurisdiction of the English courts.
We are here to help, so if you have any questions about our feedback on our Terms or wish to make a complaint about our Services, please get in touch with us by emailing [email protected] . If the question or complaint relates to information we have obtained from a Credit Reference Agency or other third party service provider, we may refer your question or complaint to them if we consider it appropriate.
If you have made a complaint about our Services and we have provided a final response which is not to your satisfaction or you have not received a response within eight weeks of making your complaint, you can ask the Financial Ombudsman Service to investigate. The contact details for the Financial Ombudsman Service can be found here https://www.financial-ombudsman.org.uk/contact/index.html.
When you’re using our Services, you must not do any of the following things. If you do or if we have reason to believe you either have done or will do, we may refuse to provide Services to you temporarily or permanently or we may take other action against you (including legal action).
Some of the actions listed below are unlawful. Where this is the case (or we believe it may be the case), we may disclose your identity, your activities and other information we hold about you to law enforcement agencies.
You must not, and you must not allow another person to, use our website or apps (including any content or materials on them) or our Services:
You must not, and you must not allow another person to:
We may monitor your use of our Services and monitor your activity for security purposes.
You must fully cooperate with us where any law enforcement authorities, regulators or court order requests or directs us to disclose the identity or locate anyone posting any material or using our website or our Services in breach of our Acceptable Use Policy.
When posting any communication or content on or via our website or app it must: