Low Interest Payday Loans – Bad Credit Accepted!

Apply online now for Payday Loans in the United Kingdom. Fast online application and quick decision direct from UK lenders. Compare Payday Loans  and read the reviews. Get your cash advance in a few hours with multiple loan repayment options. With Payday Loans Inc there are no hidden costs and no payout fee to be made. Responsible lenders for those who need short term assistance with their finances. With that in mind we’ve put customers at the forefront of every decision we’ve made.

With options for those who need Bad Credit Loans. Payday Loans Inc make the process as simply transparent as possible. Gone are the days of confusing agreements and hidden fees. You can use our loan comparison pages to select exactly how much you’d like to borrow and how long you’d like to repay. We provide an up-front breakdown of exactly what you’ll be paying back and when.

No Credit Check Payday Loans

Payday loans are one of the most expensive options when it comes to borrowing money. However they are the only option if you are in need of a No Credit Check Loan to avoid your credit history being affected. This type of loan should only be taken out if you are absolutely sure that you will be able to repay it. It doesn’t take long for the costs to mount up if you were to miss a payment. If you are considering a payday loan you may find the following information useful.

How Do Payday Loans Work?

Payday loans are only designed to be taken out for a short period of time. They are typically marketed for use for unexpected expenses that crop up before pay day. The term for the loans is usually days rather than years as they are to be repaid in full when you next get paid.

It is not difficult for people to become reliant on payday loans because the loan has to be paid in full along with all fees and these can be quite high. When this has been paid it may not leave enough money for the rest of the month as so another loan will be needed and the cycle will continue.

If you are in financial difficulty then a payday loan may not be the best solution for you. They are more likely to make the situation worse. If you are thinking of taking out a payday loan then you may want to look at your budget to see if there are any areas that you can cut back. If you do not need the money for an emergency then you will be much better off financially if you try and save up instead.

Where Can You Apply For A Payday Loan?

You will usually find a number of loan providers on the high street that offer payday loans. You may also be able to apply online from a number of lenders.

Whether you apply in store or online there are certain documents that you will have to provide. The loan decision will be made based on how much you earn and so the lender may ask to see your wage slips. They are also likely to carry out a credit check so that they can see your past credit history.

When your loan has been approved then you will be told when your repayment date will be and how much you will have to pay back.

How Will The Loan Be Repaid?

The most common way to repay a payday loan is straight from your debit card using a Continuous Payment Authority (CPA). This means that the lender can take the money straight from your account on the day that the loan is due. If there is not enough money available they are allowed to try a further two times at a later date. Charges will be added to your balance if the loan is not repaid on time.

Cap On Interest Charges Explained

There had been a lot of concern for a while about how the charges on payday loans could keep increasing and in January 2015 the FCA (Financial Conduct Authority) put a cap on the charges that lenders could charge their customers.

From this date onwards lenders are not able to charge more than £24 for every £100 borrowed as long as the loan is repaid on time. If a default fee is charged then this should be no more than £15.

Payday Loan Investigation

An investigation into the payday loan industry was carried out before this cap was introduced by the CMA (Competition and Markets Authority). They looked at how much people were borrowing and how long the loans were outstanding for.

Since this cap has been bought in a lot of high street money lenders have stopped trading and most payday loans are now taken out online. This may have been because all companies will have seen a reduction in profits and online lenders have lower overheads and were better able to withstand this downturn.

Payday Loans Online

Since this cap has been bought in a lot of high street money lenders have stopped trading and most payday loans are now taken out online. This may have been because all companies will have seen a reduction in profits and online lenders have lower overheads and were better able to withstand this downturn.

Our Comitment

Our commitment is making the repayment journey as easy as possible. If your circumstances should change unexpectedly, don’t panic. We’ll treat you fairly and work with you to find the best options to try and help you. Payday Loans Inc provides fully transparent and simple short term loans. Payday loans and instalment loans from £100 to £1000 for new customers, and up to £1,500 for returning customers.

Have questions? Take a look at our help page or get in touch! We are not lenders and have no say in the outcome of applications. Hence if you have any questions please contact the lender in question. We may receive a small commission from the lenders we direct you to. Loans are only available to over 18s and are subject to status. WARNING: Late repayment can cause you serious money problems. For help, go to: moneyadviceservice.org.uk.

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