A short guide to Payday Loans in 2017

l2p

We’ve all been there, staring at a tiny number on a bank account statement in one hand and bills posting much larger numbers in the other. Where do you turn when the panic and stress start to set in? What options do you have?

Unless you have a rich uncle willing to bestow upon you money to cover your debts, one of the easiest and fastest options are payday loans. Payday loans are short-term loans of up to £5,000 to go from stressed and broke, to relaxed and loving life.

This streamlined loan process doesn’t require credit checks or documentation, in most cases. The funds you need are available to you the same day you are approved, getting you back on your feet today, instead of next week. These loans are unsecured and higher interest loans designed to be paid back quickly. The fixed repayment structure gives you a clear and easy
understanding of how the loan will affect you.

Not all payday loans are created equal and at Loan2Payday
www.loan2payday.co.uk have built an easy system designed to get you the best loan to meet your needs. Our goal is to help you bridge the gap between due day and payday, without bonding you to unreasonable loan conditions. We are not a direct loan lender, but rather a loan broker. This means that we search out the best available loans for you, and your financial profile. As a broker we work directly with a wide array of direct lenders, providing you with a comparable database of lenders. We give you control of your loan options.

Qualifying for a loan is simple, with only three requirements; have a job, a bank account, and be over 18. If you meet these basic necessities, you are ready to apply and get a loan. Use our online form to give us your information, verify you meet the three requirements, and tell us
what your cash needs are.

With your verified information, we match your specific needs to several lenders and options. The “advanced loan aggregation system” will then send you a list of loans that best match your financial strength. Now, you are in the driver’s seat with multiple loan offers and options to choose from. You have all the details of each matching loan available for your review. We recommend taking a few minutes to review each loan and make sure you understand every option.

Once you have selected a loan, you will be connected with your selected lender. After the lender reviews all of your information and verifies eligibility, they will send you a formal offer for the loan. At this point you can accept or reject the final offer from your chosen lender, keeping you in the driver’s seat of your financial road trip.

In the time it has taken you to read this far in the article, you could have almost finished the application process. Our system is designed to get approved and have money in your account in a little as thirty minutes.

Understanding Payday Loans And Their Benefits 

Understanding Payday Loans And Their Benefits

Have you ever noticed just how broke you are a week before payday? Even those with killer money management skills somehow find themselves counting pennies and counting hours to the next payday. The good news is that with payday loans so easily accessible today, you don’t have to struggle and hustle as hard anymore. Below is more information about what payday loans are and what you have to gain from these convenient financial agreements.

What Is A Payday Loan?

A payday loan is by definition a financial agreement where a lender loans a borrower a specific amount of money to be paid back in full from the latter’s next salary. More often than not, these short term loans are unsecured. However, some companies might require the borrower to write a cheque with the amount borrowed and the specific fees and interest. This check, therefore, acts as some form of security where if the borrower is unable to pay, the company simply crashes in the cheque with their permission to settle the debt. These loans are hassle free ensuring that you get the financial help you require quickly and conveniently.

What Are The Benefits Of Payday Loans?

Having understood what payday loans are, it is important for you to understand what you have to gain from getting one. Below are 5 key benefits you have to look forward to with these financial agreements.

1. They are easy to get- Processing time and release of funds is a lot faster than with most other loan agreements. With payday loans, you can even get one from an online company.

2. No need to secure the loan- this makes the application and acquisition even easier and faster. Unlike other loans where you need elaborate proposals and strong security, these allow you to get the money without any stress.

3. They are short-term- One of the biggest problems with ordinary loans is the fact that you are indebted to the lender on a long term basis. With these, on the other hand, you have your financial freedom back in a matter of weeks and sometimes even days.

4. They are affordable- These loans feature decent rates and reasonable processing fees. This makes the transaction affordable for you as the borrower.

5. They are convenient- Finally, they are super convenient and are the perfect quick bail outs from sticky financial situations.

National Laws And Regulations

Payday loans in the UK are regulated by different national bodies including the Financial Conduct Authority. This regulatory body exists and operates independently from the national government.
Its main purpose is to ensure that lender companies maintain standards and follow regulations for the sake of both them and the lenders whom they serve.

Your Move

With all this information, it is safe to say that getting a payday loan is not such a bad idea. The important thing is to ensure that once you get the loan, you use the money wisely to make it all worthwhile. One way to ensure this is by using the Money Advice Service that helps equip you with money management skills. Bottom line; whether you want an emergency loan to pay your bills or some cash to get a product before it goes off sale, we are here to help you with affordable payday loans to make your life easier.