Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
If you're looking for are looking for a quick short term loan, then you've to the right place. One payday loan application gets you access to over 40 UK direct payday lenders. Most applications are approved instantly and your loan can often be transferred by direct deposit in a matter of hours!
There are many advantages to applying with us. We give you quick access to direct payday loans lenders (no brokers or affiliates). They helped thousands of customers just like you. Our custom built application process is ideal for online, faxless payday loans.
We will compare the best rate on loans from direct payday loan lenders only. Our system caters for everyone, whether you're looking for direct payday loans no credit check or direct lender payday loans bad credit, we're confident we have a solution for you!
Payday loans are not for everyone. Read more about our responsible lending practises here. If used correctly though, there are some key advantages:
While every effort is made to provide a favourable budget for repayment, lenders understand that problems can happen. Most lenders on our panel have resources to set up payment plans that will assist you. It should be remembered that these may incur additional charges or interest, however it is much better than ignoring the payment requests from your lender. Whilst every lender has different charges, borrowers should remember that for every month that you fail repay the loan, the true cost of your loan will grow substantially because of the additional fees involved. Using a payment plan means that these fees stop accumalating, and you only repay the outstanding balance and the interest.
It's vital that you contact your lender directly if you feel that you cannot repay the loan on the agreed date. Consistenly ignoring payment requests will not only incur further charges and interest, but may also force the lender to pass your details on to collection agencies.
If you've missed repayment, the lender may send the details to a credit reference agency (like Experian, CallCredit etc). This means that your non-payment is recorded on your credit file for future creditors to see. This could affect your ability to get credit in the future as lenders may not grant loans. All lenders have different policies regarding credit files, so it's important that you read the terms and conditions of your loan agreement carefully. Any marks on your credit record can stay active for up to 6 years, so it's important to treat your loan repayment with respect.
By meeting your repayment on time, many lenders will leave a positive note on your credit record which improves your chances of obtaining future credit.
DirectPaydayLoan.co.uk does not recommend renewing your payday loan, as they are not intended for rollovers, and are better suited to one-off cash emergencies. However, if you feel it is absolutely necessary and have budgeted for the additional charges, then you must contact your lender as soon as possible. Please remember that this may incur additional charges - so read your loan agreement carefully and always chat with your payday loan lender to clarify this.
Once we have matched you with a payday loan lender, we always recommend that you read the t's and c's carefully to ensure that automatic renewals are not in place. In the event that it is, you can request the cancellation of the renewal, but you must notify the lender. Failure to do so will result in a additional interest and charges that are unwarranted.