What is a Pay Day Loan
A PayDay Loan is a short term relatively high interest loan to keep you going until your next pay day, which can be up to 31 days away.
What am I allowed to use a Pay Day Loan for?
You can use a Pay Day Loan to help manage household bill payments or pay for unexpected expenses or anything else you feel you need sooner rather than later.
How much money can I borrow?
The amount lent to you depends on how much pay you take home each month. Pay Day Loans  vary between a minimum of £80 and maximum £750
How much will a Pay Day Loan cost?
Fees vary amongst Pay Day Loan providers. They generally tend to be around £25-£30 for each £100 you borrow.
Do I Qualify?
To qualify for a Pay Day Loan, you must live and be employed in the UK, have a regular income which is paid into a current UK bank account and be over 18 years old.
I have a Poor Credit Score
That should not matter. Various different circumstances are considered but main factor is to be sure that you can make the repayment when your next pay day arrives.
I am not a Homeowner?
Not relevant. Pay Day Loans are available to home owners, tenants and people still living at home with their parents. Key factor is that your salary will cover the repayment.
How do I repay a Pay Day Loan?
The repayment amount agreed with you is taken out of your bank account on a specified date. You don't need to do anything.
How long will it take for me to get the money?
Usually funds are cleared same day to 48 hours after an application is received and approved.
How long is the Pay Day Loan repayment period?
You have up to 31 days before the loan must be repaid. Repayment is automatically debited from your bank account on an agreed date.
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If you are facing a short term financial crunch or cash flow bind and have adverse credit then payday loans are one of your quickest and best solutions. If you have great credit then a short term overdraft is probably a better solution.
Pay day Loan or LogBook Loan?
Another popular type of loan is the Log Book Loans. LogBook Loans are similar to PayDay loans in that they are extremely flexible! LogBook loans, like PayDay loans do not require credit checks, while Pay Day Loan are based upon your income, LogBook loans are based upon your vehicle. A LogBook is the equivalent of a registration. These remain valid for five years, so the information contained in them is usually extremely accurate.
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