Warning: Late repayment can cause you serious money problems. For help, go to MoneyAdviceService.org.uk
Apply To Borrow from £100 t0 £25,000 *

FAST 3 TO 36 MONTH ONLINE LOANS.

Representative example: £500 borrowed for 5 months. Total amount repayable is £991.85 in 5 monthly instalments of £198.37. Interest charged is £491.85, interest rate 236.1% pa (variable). Representative 481.6% APR.

APPLY FOR 50 – 1,000

FAST PAYOUT

NO FEES

SECURE APPLICATION

AVAILABLE 24/7

BAD CREDIT

Personal Loans

  • Instant Decision
  • 60-Second Application Form
  • From £1,000 to £25,000
  • Rates from 5.7% APR to 278% APR*
  • 3-36 month repayment

Short Term Loans

  • Online decision
  • Responsible lender
  • Apply to borrow up to 3000*
  • Rates from 278% APR - 157% APR*
  • 3-12 month repayment

Smart and Simple way to apply for financial assistance.

Rates from 3.6% APR

Loans from £500 to £50,000

We have a comprehensive panel of leading lenders

9 out of 10 applicants are offered a loan

No Credit Check

Understanding Payday Loans and How It Can Help You

Payday loans are short-term credits that are designed to help tide borrowers over to cover their financial shortage until their next payday. While most payday loans direct lenders expect borrowers of payday loans bad credit to pay the principal and the interest on their next payday, or by the end of the month, there are lenders that may allow borrowers to choose their preferred term.

How Payday Loans Work
Payday loans direct lenders can lend between £100 to £1,000, though this can vary from lender to lender. Considering how this is a short-term loan, expect that the interest rates will be generally high. However, the fast processing time and the lenient requirements have made these loans the go-to among many a borrower, especially those whose credit records aren’t especially spotless.

The funds, once the bad credit payday guarantor loans is approved as in payday loans uk, is typically paid into the borrower’s bank account. Usually, this is within 24 hours of the loan approval  from payday loans uk  with some even releasing the funds a few hours upon approval of the payday loans bad credit. Repayments are usually taken from the borrower’s bank account once due. Typically, lenders charge £24 for every £100 that is borrowed.

Requirements for Payday loans UK

There are basic requirements that potential bad credit payday loans borrowers on payday loans online will need to meet to get approved for payday loans online. A borrower needs to be 18 years old and a UK resident. He must have a working bank account as well as this is where the lenders are going to deposit the funds directly. This is also the same account that they will be deducting the payment from the loan’s due date.

In addition, a borrower of payday loans needs to have a steady source of income too. He need not be employed, but must prove that he gets a steady source of regular income to ensure that he can pay off the debt by the time it is due.

In order for you to be guided in deciding for the loans that you wish to apply, you may visit these websites as they offer useful tips and guidelines for you.

Money Advice Service
Financial Reporting Council  

Benefits of Payday Loans Bad Credit

The speed in which one can take out a payday short-term loan is also one of the many reasons it has grown in such popularity among the borrowing public over the years. The requirements tend to significantly easier, more lax, and lenient compared to standard bank loans. In addition, most lenders do not require a hard credit check when assessing prospective borrowers, which makes it possible for those with bad credit to get access to emergency funds. Applying for one is convenient too, since most lenders offering this credit are operating online. So, you can choose to send your application through this medium.

There are a lot of advantages that one can get out of payday loans. Easy to access, convenient, and fast, it serves well as a last resort for people who are short on cash and want to take out a loan for the short term. However, it is easy to not keep up with the payment if one is not careful. Understanding the implications of a payday loans default is essential so you’ll be more motivated to avoid such a risk in the first place.

payday

Why Payday Loans are Risky?

Payday personal loans may seem to be a sound solution when you need cash fast. But they can get overwhelming especially if you’re already struggling financially to begin with. The easy access to these loans can make it easier for people to avail of them and then risk ending up with multiple payday loans that they will not be able to pay off.

The fees attached to these loans are expensive. Since most lenders only require a few things from borrowers and the unsecured nature of these loans will make it harder for borrowers to pay back the loaned amount along with the interest come the due date. This can lead people to roll over the loan which can lead to more fees thus, causing the debt to balloon if one isn’t careful.

Payday Loans Bad Credit: Trouble with Your Bank Account

It is common for payday lenders to automatically charge the bank account that the borrower has listed upon his application. When a payday small loan has not been paid on time, the lenders will try to withdraw the money from your account. This can result in overdraft fees by your bank every time you have an insufficient balance the moment that a withdrawal is attempted.

Dealing with Payday Loans Direct Lenders Debt

There are bad credit payday loans borrowers that may decide to secure another payday loan just so they can pay back the previous one. However, doing so only worsens the situation. The new loan comes with new fees and interests and will only make it harder for you to pay it back. You will only likely end up defaulting on multiple loans if you take this path.

What to do before you default
If you feel that you are at such a high risk of defaulting on a payday loan, get in touch with the lender. Explain what is going on and see if there is a way for you to get the payment terms renegotiated just so you won’t end up in collections.

Features

We have made easy for you

Secure Process
Paid Into Your Account
Credit Problems*