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Payday Lenders- Make an Appropriate Choice

People have realized how important payday lenders can be, especially if you have a financial emergency. If you get an unexpected expense like a medical bill or car repairs, you can apply for one of the payday loan options. The loan will be sent to your account within 24 hours after you make an application.

Before you decide to use payday lenders, you should determine the amount of money that you require. The lenders are usually online-based and you are required to fill out an application form indicating how much you need, and the amount you earn as income each month. You are also required to provide bank details to allow the lender to make a direct deposit to your account once the loan has been approved.

Payday Lenders – Don’t Be a Victim

One of the most important things to consider when you are choosing a payday lender is their reputation. You need to find a company that is reputable to avoid being a scam victim. To determine if the lender you want to use is reputable, you need to ask people who have used their services before.

When selecting payday lenders, you should also consider the interest rates that they offer. Find a lender who is willing to provide a low interest on the amount that you borrow. Payday loans are usually offered at very high interest rates. Therefore, you should select the most reasonable one. There are additional fees which are charged. It is, therefore, important to ask the payday lenders about fees before you send in an application. The additional fees and interest charged on the loan will determine how much you will pay back. It is advisable to carry out adequate research before you make a decision when choosing payday lenders. One of the advantages of working with payday lenders is that you do not have to interact with a middleman to get a loan.

Another important factor to keep in mind when you are choosing payday lenders is the amount of time it takes to process your loan request. Reputable online lenders usually have systems which process applications automatically, and this means that you will be able to get a response within a very short time. When you have a financial emergency, you need to find out if your application has been accepted or declined as soon as possible. Therefore, you should look for payday lenders who offer responses within 24 hours.

When you look for payday lenders, you should also remember that they should not consider your credit history to make a decision. This should not be a determining factor. If you find one who requests for your credit information, you need to look for an alternative. The main reason why people turn to payday lenders is because they can offer loans without asking a lot of questions. Checking your credit score will take time and this means that you will not get the money you require to deal with your financial emergency. Select payday lenders who do not have these requirements.

Representative example on a loan of £200 repaid after 30 days:

  • Total charge for credit: £248
  • Payable in one payment of: £248
  • Interest: £48
  • Interest rate: 292% p.a.
  • Representative 1223.6% APR (variable)

Customer Satisfaction

Our Customer Service centre will respond to your emails promptly
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Our company is a licensed credit broker and not a lender

Marc Obadia T/a - Payday Lenders Direct Registered Office : 8 Parson Street, London NW4 1QB
Financial Conduct Authority Interim Permission Number: 654479 Data Protection Registration: ZA060351 Payday Lenders Direct is Authorised and Regulated by the Financial Conduct Authority”
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