1.
What is a payday loan?
A
payday loan provides you the opportunity to obtain fast cash
in emergency situations. It is not meant to be a long term
solution. If you are concerned about your financial wellbeing,
please contact a credit councillor
2.
How much may I borrow?
You
can borrow up to £300 for your first loan. Once your
first loan has been repaid in full, you will have the option
to borrow up to £1000 for each subsequent loan. The
maximum amount that you may borrow is based on your take
home pay.
3.
How much do I need to be paid in order to qualify?
You
must have a minimum take home pay of £333.50 after
all taxes and deductions.
4.
What documentation will I be required to send in?
All
that is required is a copy of your most recent pay slip,
showing your net income, deductions and company name.
5.
What if I am self employed?
Unfortunately,
we cannot lend to those who are self employed.
7.
Do I need to have my salary paid directly into my bank
account?
Yes,
in order to qualify your salary must be paid directly into
your bank account by your employer.
8.
How long may I have the money for?
Each
loan must be repaid on the day that you receive your next
regular salary payment. The maximum duration of the loan
is 31 days.
9.
What fees are involved?
There
is a fee of £29 for every £100 borrowed which
must be paid in full upon the repayment of the loan. This
fee includes all costs of the transaction.
APR Calculation
10.
How do I make a Loan request?
Loaning
is quite simple. The loaning process begins by logging into
PaydayLoansUK.com with your National Insurance
Number and home telephone number. Select your next pay date
and the amount you wish to borrow.
Next, read and digitally sign the online loan agreements to confirm your request.
You may then expect to see the funds as early as tomorrow.
Click
here for step-by-step instructions.
11.
How do I repay the loan?
On
the date that your loan is due to be repaid, we will automatically
debit the entire loan amount plus the fees from your bank
account. You will then be able to request another loan the
very same day.
12.
Must I be a homeowner in order to qualify?
No.
Payday loans UK approves both tenants and homeowners
alike.
13.
Am I still eligible if I currently have a CCJ?
Currently
or previously having a CCJ will not affect your eligibility
with PaydayLoansUK.com. We are not checking for such
information, but please do not apply for a loan unless you
are sure you will be able to repay it. |