Payday Loans in 1 Hour

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Payday loans

For millions of UK residents, payday loans are an effective way to help pay for unexpected bills or expenses. Many times, they can save you from incurring late charges or even help you avoid costly overdrafts. However a payday loan might not be the right option for you. Before taking out a loan, you should make sure this option is suitable for your needs and circumstances.

What is the most common use for a payday loan?

We carefully surveyed our customers and found that most of them were utilising our services to cover unexpected bills, avoid late fees on their credit card bills and to avoid overdraft in the current account.

Is a payday loan not right for me?

While payday loans are a useful tool, they are not the solution to everyone's financial situation. Before applying for a payday loan, please make sure to research all options available to you.

  • Always know your available bank balance so you can avoid writing a cheque if there is not enough money to cover the expense.
  • If you have a late bill, call the company and see if you can work out a late payment arrangement. Many companies are willing to work with their customers when they know they will receive payment, even if it is going to be a few days late.
  • Try to cut down on your day to day expenses. Bring a lunch to work instead of dining out every day and avoid unnecessary spending like expensive coffee drinks.
  • Find a great debt relief program that will work for you.
  • See if you are eligible for a cash advance from your credit card company. Make sure you are well informed of the fees that are associated with any type of credit card cash advance as the APR could be more than that of a payday loan plan.
  • Never be embarrassed to ask close friends and family for help. Aid can be in the form of lending money or helping you to establish a budget.

Be sure to check out our financial tips page for more money saving strategies!

Types of loans:

Payday loans | Payday advances | Cash advances | Personal loans

Late/Non Payments

In some cases, you may be expected to pay an extra fee on top of what you are already expected top pay back if you miss your scheduled payment (Please read all terms and conditions fully prior to accepting your loan). For example, if you initially borrowed £80 and were due to pay back £100, the interest would accumulate from the £100 not the original £80. We encourage all applicants to repay on time and in full to avoid extra interest charges. If you have any worries or concerns with regards to paying the loan back on time please get in contact with us as soon as possible and you may be able to receive help and avoid any additional fees for late/non-payment.

Renewal Policy

If you wish to renew your loan, you should contact your lender in advance. Most lenders will charge the same rate of interest and fees for another month on the entire amount owed. In the event of non-payment, a loan renewal/extension could be automatic and further interest and/or charges may be added to your account. Nonpayment may affect your credit score. Some lenders may pursue claimants by legal means in the event of repeated non-payment. All of the above varies between lenders.

Collections Process

If you feel that you may be unable to repay your loan on time then please get in touch with us as soon as possible and see what help we can offer. When a person defaults on a loan, you may be contacted by phone, email and SMS. As part of the collection process and in line with the terms of your loan agreement, the Continuous Payment Authority may be utilised to continue to attempt to take payment from your card up to 90 days past your due date. Should the situation remain unresolved, your details may be passed onto a third party collections agency. We strongly encourage everyone seeking a loan, to ensure that they have the means to pay back any agreed loan repayments in full and on time so as to avoid penalties and damage to your credit score.