Payday Loan Lenders – Payday Loans

Instant Payday Loans

May 14, 2015 / By Payday UK / In Instant Payday Loans, Payday Loan Lenders, Payday Loans

Immediate access to quick cash through an Instant Payday Loan. Apply direct and get your loan secured for low cost and little risk. Instant payday loans are a very popular way to get immediate access to money. You can borrow from 50 pounds up to 400, 500 pounds. or even up to 1000 pounds. Apply online directly at one of many instant payday loan direct lenders in the UK. Instant decisions guaranteed.

These loan providers are also known as online short term loan providers. Typically you will have access to the loan for a period of twee weeks up to three months. The longer the stretch, the higher the cost. Be aware of the total cost and the time before you will have to pay back the loan.

Easy Payday Loans in UK

These payday loan lenders are plenty in the UK. You can easily apply for an instant loan at one of these lenders by filling in a form at their websites. These forms are simple to fill in and you’ll be ready with your application within minutes. Most lenders who offer instant payday loans promise to have your application dealt with within 5 to 15 minutes after which they deposit the amount on your bank account.

Some pay day loan lenders are a little hesitant providing loans where other providers make no difficulties. After you applied for a loan you will receive a proposal by e-mail, sometimes with an immediate offer for you to accept or decline. Or in other cases you will have to provide additional information.

But for some awkward reasons some lenders even want you to send a fax with additional information or some prove about your income; as if a photo taken with your cellphone of your bank account statement send by e-mail or through an online form on their website, isn’t enough.

Instant Payday Loans Costs

Before accepting your loan offer be aware that the world is not build by fairies and there is one very important thing to take into account: the total cost of the instant payday loan you are about to accept. These fees of these instant loans can differ between 20 to 50% of the total amount of money that you’d like to borrow, depending on

The lender or the payday loan provider
The amount of money you want to borrow
The amount of days before the repayment.

So f you like to lend 200 pounds you have to pay this back, typically between 14 and 40 days (depending on the lender and your preference) and your cost will be between 40 and 100 pounds. Therefore the lender will expect 240 up to 300 pounds paid by you after 2 to 5 weeks. See for more information: What Do Payday Loans Really Cost?

Repaying Payday Loans

If you find yourself unable to repay the loan, you should get in touch with the lender as soon as possible. By getting in touch you may work out an agreement on when to pay back and how. This may also prevent more costs.

When you will call them, it may be wise to think a little bit ahead about what you would like to propose: by which date you think you will be able to repay. That’s what most companies would like to hear. Are you going to be able to repay the loan by next week? Or would like you to repay the loan in weekly or even monthly installments?

A large delay or paying in installments typically would mean extra costs, due to the interest rate or extra fees, but by working out an agreement together you prevent this cost to spiral out of control.

You should only get a payday loan if you can pay it back comfortably, on time and still afford all your other outgoings. You need to ensure that you don’t fall into a regular cycle of borrowing and repaying (source).

No credit check instant loans

Because most lenders perform almost no credit check, many people take out another loan at another direct loan provider to repay their old loans. Many consumers take out a so-called Instant Payday Loan For Bad Credit as a way to repay their existing debts or because they find themselves indebted and broke.

As such they keep on hopping from one lender to another and yet to another until the costs have totally spiraled out of all proportions. It’s at this point that people find themselves unable to repay their debts. They are stuck in the Debt Trap. Read I can’t pay back my payday loan, what can I do?

You should only get a payday loan if you can pay it back comfortably, on time and still afford all your other outgoings. You need to ensure that you don’t fall into a regular cycle of borrowing and repaying (source).

This is how debt can grow into a massive troll in your life. And it is vital that before you find yourself in this situation that you request help from others. There are organisations that can help you for free but it’s also a smart move to inform family or friends of the situation you’re in.

Reasons for Payday Loan

Before taking an instant pay day loan it is a good idea to consider if you really need the loan. Because the cost is so high generally you should only use the payday loan if you have to other alternative and if you are sure you are able to repay the loan within the agreed period.

It is also advised to not use Payday loans for secondary reasons. Budget-experts clearly advise to always make a budget and to save money instead if you are looking for a way to pay for non necessities.

Payday loans should never be used for larger expenses like a holiday, home improvements or Christmas. Instead, can you save for this event over a few months? Can you cut non-essential spending? (source).

If you desire to take on an instant payday loan for reasons of paying off debts, you are entering dangerous waters. It is best advised to make arrangements with debt-collectors for repaying those debts. There is always a possibility to repay a debt later, negotiate about it. If you need help with this you can always contact a special organisation such as http://www.stepchange.org.

Payday Loans like Wonga

March 30, 2015 / By Payday UK / In Instant Payday Loans, Payday Loan Lenders

Instant payday loans in the UK are like Wonga cash loans. There are many direct payday loan lenders like Wonga in the uk available. Taking out a loan can be as easy as putting a finger in your noise.

Typical of these instant loan providers is the lack of credit checks. These prodivers share almost no information about their customers and they hardly check your income statements.

Wonga has come under attack a lot by customer right organisations and debt-organisations. For most of these organisations Wonga gives out loans too easily, especially to people who are unable to repay these loans. The repayment costs are considered as high, and if you don’t repay in time, they will even be higher. As a result many people end up in a cycle of debt. Wonga is equally responsible for this by making it very easy to take out loans.

Payday Loan Lenders Like Wonga

Interested in getting a payday loan like Wonga and looking for payday loan lenders? There are plenty avalaible on the internet. Be aware though of the high cost of these loans. Taking out an instant cash loan of 200 pounds could typically cost you around 40 pounds, 20 pounds if you find a cheaper option.

Costs tend to even get higher when obtaining paydayloans but not being able to repay the loan in time. Your debt can easily spiral out of control. Be aware of what you’re doing therefore.

If you do not like to rund such a risk, there are alternatives to payday loans.

Instant Payday Loans Direct Lenders

September 30, 2014 / By Payday UK / In Instant Payday Loans, Payday Loan Lenders

Most Instant Payday Loans Direct Lenders are out there to make money out of you, so which lender is one you can trust? Looking for the cheapest rates and the lowest risks will help you securing the loan that fits you best.

Looking for quick cash? Be aware which lenders to avoid. The warnings are all over the internet. The public debate about loan sharks and reforms and all that is still ongoing. So you know the risky road you’re at right now, while looking for a payday loan provider that can give you cash straight away in your bank account. But come on, they can’t all be that bad, is most likely what you think.

Well, quick frankly, they aren’t all that bad. The problem is this: Since these payday loans direct lenders borrow money fairly easy there are quite some people not aware of the risks. These risks involve not being able to repay the loan in time (or at all), as well as paying back the costs and the interest of the loan they’ve taken. They may end up in a spiral of debt, taking out more of these easy quick access payday loans while adding up to your burden of debt.

Payday Loan Direct Lenders No Credit Check

Payday Loan Provider are partly also responsible for this. Of course you are the one taking the decision of taking out a loan, so you are the most responsible for this action in the end. But at the same time payday loan providers make it so easy to secure a money loan that it’s really ridiculous. Many instant payday loans direct lenders confirm that bad credit ratings cause no problems whatsoever for securing a loan.

So much is the case that instant payday loans are also a synonym for Payday Loans with no credit check. It is generally a common thing that people with bad credit ratings can easily take out a payday loan such as the ones we’re talking about. Payday loan providers only check your personal data to verify if you’re an existing customer or not, they don’t check your credit score or anything like that.

Also many persons taking out these easy access loans are still young and haven’t had the right education to be really aware of what a loan entails, the responsibility it needs. Since direct access to cash is available, and you need money straight away, why not take out an instant payday loan? The idea to have money on your bank account straight away, really, just a mouse click away, can be very, very persuasive.

Generally the advice though is to only and only then take out a payday loan when you’re absolutely sure you will be able to pay back the loan in time, including the cost of such a direct payday loan. Be sure also to know the exact cost of paying back the loan. What are the hidden costs? Wanting to have direct cash can lead to not reading well the rules of repayment. So be sure you got those very clear to you.

New regulation reduces payday loan lenders

July 14, 2014 / By Payday UK / In Payday Loan Lenders

A new regulation is likely to reduce to number of payday loan lenders. The new regulation due for 2015 sets stricter regulations for payday loan lenders in order to protect consumers. It is said that the regulation will put an end to extra costs of payday loans. Payday loan lenders will only be allowed to set a maximum amount of cost of 20 to 30 percent of the loan.

This total cost includes the maximum interest cost as well as other extra costs such as ‘administration costs’ or other types of costs that payday loan lenders tend to raise to their customers. According to the FT,

The cap is one part of efforts to clean up the sector with tougher regulation. Lenders are already subject to rules, which came into force this month, that limit their ability to extend, or “roll over”, loans and to access customers’ bank accounts directly to take missed payments.

According to the lobby associated with payday loan lenders, the Consumer Finance Association, this will most definitely result in much less payday loans offered to consumers. It expects the market to shrink about half in the coming years. According to the FT:

The association said its members, nine of the UK’s biggest payday lenders, had lent 50 per cent less in the past three months than in the same period last year.

Finding the Right Payday Loan Lender For You

July 14, 2014 / By Payday UK / In Payday Loan Lenders

It’s not so hard to find a payday loan lender that can offer direct payday loans. But which lenders can you really trust? And which ones are not so expensive?

The field of payday loan lenders is a large one. A quick search won’t make you find the right payday loan provider instantly. There are many lenders around and it’s not always clear upfront of what is the real cost of the payday loan you are about to take.

Thankfully there are some guidelines you can take into account. First of all, don’t just take the first one you find on the internet. Spend some time finding at least three pay day loan lenders. Then take a look at the cost of the loan. Best is to go through the procedure of the obtaining the loan, but skip the last step. Only like this you know the full cost.

Have you done this, then you can more easily compare the lenders.

Another thing to take into account are the number of days you need to pay back the loan and its costs. Best option is always to pay back the loan as soon as you can, so that you won’t get any surprises of extra costs when not paying back in time.

Finally, it’s often a good option to choose a pay day loan provider that is transparent about costs and the amount of time you get to pay back the loan. There are providers who have very easy to understand costs and payback periods. These providers are often not so sketchy as other lenders that are more weary about showing their real teeth.

In sum: be aware to search well and choose a couple of different payday lenders. Take a good look at the real cost of the loan. Are there any hidden details? What is the deal in terms of number of days to pay back the loan? Follow these guidelines to better choose a payday loan provider.