Common Questions That People Ask

To apply now, please go to: APPLY HERE (30 day loan) or APPLY HERE (Instalment loan) 

  1. Can I get a Payday Loan with Bad Credit?

    In short, yes, you can. In fact, Bad Credit Payday Loans from a Short Term Loan Lender generally, have always been available for People with a bad credit history; in some cases, even a very bad credit history.

    The reason is simple: Payday Loans are by definition of a very short duration and qualification is not necessarily based upon a long term History but a current ability to repay the loan.

  2. Do Lenders do a credit check for a Payday Loan?

    Yes – or they should in order to be 100% compliant with the Best Practice Charter and the Financial Conduct Authority’s Guidelines.

    But the degree and type of credit checking varies. Take TheQuickLoanShopLtd for example, we have no credit check for payday loans that involves an external Agency, therefore, your Credit History is unaffected by a Decline from our Underwriters.

    Other Lenders will perform a hard credit check with the Credit Reference Agencies – these will leave an imprint positive or negative upon your file.

  3. Is there such a thing as a guaranteed or high acceptance Payday Loan?

    We would like to think not! Why? Because any Lender offering Guaranteed Payday Loans or a High Acceptance Payday Loan cannot truly offer such a service and comply with all Regulations applicable to the Credit Lending market.

    Sadly, it is inevitable that some people will be using Payday Loans incorrectly and relying upon them to service other debts; the most dangerous being other Short Term Loans. Lending to People in a ‘revolving credit’ situation should be avoided as it is not good for both Customer and Lender.

  4. Instant Payday Loans Today!

    Really? Well, not quite literally but close enough to qualify as very quick indeed. Payday Lenders strive to cut through all the ‘red tape’ that is usually applied to

    Financial Applications and steer Borrowers through a streamlined process that is both fast and efficient.

    As such, an Approved Payday Loan can be in your Bank account quickly – the same day, often the same hour.

  5. What Technology Are Lenders Using?

    Wonga started it all from a UK perspective; a Technology company using sophisticated algorithms and software to provide a niche-market for Short Term Loans.

    The Infrastructures have moved on somewhat since those early days and all good Payday Lenders use very advanced system processes to operate their Businesses.

    Lenders – including ourselves here at TheQuickLoanShopLtd – have adopted a swift and streamlined Decision Engine that processes Applications quickly and efficiently matching them to various Lending Decision Criteria.

    The main elements are strongly focussed upon providing the best outcome for the Borrower, ensuring only those who can repay are Approved and that they receive their Cash as quickly as possible.                                                                 The 15 Minute Payday Loan really can be achieved in certain situations whereby all Underwriting Conditions are met without the need for further consultation.

  6. What happens if I cannot repay my Payday Loan on time?

It can and does happen; with all the best intentions in the World, sometimes things just do not go to Plan and we find ourselves falling short of being able to meet our commitments.

So what now?

TheQuickLoanShopLtd is a Payday Lender Company that Listens. We know how it is. We can help.

  • Firstly, we do not use the dreaded Continuous Payment Authority. Sure, it saves Borrowers the hassle of having to manually repay or set up their own repayment method but is it really in the Best Interests of the Borrower? We don’t think so. What happens if a Lender takes out money the Borrower needs to live on? Our way is better: you only repay when you can!
  • Secondly, we are happy to assist in setting up a Repayment Plan to suit your ability to repay your loan.
  • Thirdly, we do not share your History with Credit Reference Agencies; we do not want to harm your Credit Rating in the event of a Late Repayment in the absolute belief that we can resolve your Account amicably leaving both you and us with a positive experience. 

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