Frequently Asked Questions About Payday Loans or Payday Advance
Prior to visiting this website, you may not have heard about payday loans or payday advance, much less know anything about how they work.

• What is a payday loan or cash advance?

  The names refer to the same product and are small, unsecured loans that are to be re-paid quickly. In most cases the loans are re-paid within thirty days, upon the applicant's next payday.

   
• Under what circumstances, the payday loan can be applied for?

  Payday loans are designed to help people who have suffered a financial emergency. These most often take the form of an automotive or medical emergency.

   
• What is the maximum amount of loan one can apply for?

  You may apply for up to £1,000, but the final decision on the loan amount will be made by the lender based on your application.

   
• How do I qualify for a payday loan?
  • Those who are employed or have regular source of income
  • Those below 18 years are not eligible to apply for a loan
  • Must be a legal resident of the United Kingdom
  • Savings or checking account with direct deposit is needed
• What should I do if I cannot pay back the loan or if I default?

  Please refer to our Renewals & Collections page.
• What is the procedure to apply for a payday loan online?

  One can apply online for a payday loan. The approval is immediately processed and one is notified of their status there and then. The funds are disbursed the next business day within no time once the client agrees to the terms and conditions.
• What information does the client need to furnish to complete the application?

  For the completion of the payday loan application, the name, address, and contact, employment and banking details of the client are required.
• Do I need to worry about my personal and financial information?

  To secure the personal information of the customer, our site uses a variety of security measures so that their right to managing their personal finances is not infringed upon. 128 bit Secure Layer or SSL encryption technology is used to transmit all the sensitive data between the browser and the website.
• What are your charges? Are there fees for applying for the loan

  The operator of this website does not charge consumers for our service. Any fees charged to the applicant are charged by the lender. The average representative APR is 2120%, although the actual APR will depend on the lender that accepts you for a payday loan.
• Is it mandatory to take out a loan once I have applied for it?

  No, you are not required to take the loan once you have applied for it. If accepted, it is an offer for a payday loan, simply do nothing if you changed your mind. If you are interested in proceeding, you need to confirm your information with an electronic signature by officially agreeing to the terms and conditions online.
• What if I have poor credit?

  By using our vast array of lenders, we will make every effort to find one that meets your credit needs, even if your credit is less than perfect.
• Are tenants eligible to apply?

  It makes no difference whether you own or rent your home.
• Is the information needs to be sent via fax?

  Only in the rarest of cases will you be asked to fax any information.
• Is more than one payday loan sanctioned at a time?

  No, payday loan is not granted before the previous ones are repaid.
• Are current or former employers contacted?

  No, the lenders follow a strict confidentiality policy. Until or unless required by law, none of your information would be passed on to any third party without your prior agreement.
• Is direct deposit needed?

  The bank account of the client is required to be set up with direct deposit in order to qualify for a cash advance. This is one of the most secure ways to disburse loans as quickly as possible.
• When can I expect my payday loan?

  Upon approval, the Payday Loan is instantly transferred and you can use it the very next business day. In certain cases, the loan amount can be received the day it is applied for.
• The loan would be due?

  Terms and conditions vary, but typically you will be required to repay the loan on your next payday.
• What would be the consequences if the loan is not repaid by the due date?

  The borrower should immediately contact the lender if he is unable to repay the full amount by the due date. The borrower is further liable to legal action if they repeatedly fail to repay the loan.
• How frequently can I get a payday loan?

  The clients can avail our financial assistance any time between any periods. Payday loan is to meet the urgent needs and does not deal with continuous budgeting issues. So, the clients are encouraged to use these loans responsibly.
• I only work part time – do I still qualify?

  It is entirely possible that you do. As long as you meet the loan requirements, it does not matter if you work full or part time.
• Please give me an overview of the online payday loan process.

  Most people apply for a payday loan as the result of facing a financial emergency. The process for an online payday loan is a simple one. First you apply, and if you meet the preliminary requirements you will receive instant approval. Once approved, you will receive a loan offer from the lender, outlining their fees, due date and other important information.

  Review the offer and if the terms are ok, you agree by providing your electronic signature. The instructions on the offer will be very clear.

  The loan is deposited to your account by electronic transfer. This sometimes happens the same day, but rarely longer than the next business day. The loan plus applicable fees is automatically deducted from your bank account on the due date.