Warning: late repayment can cause you serious money problems for help go to www.moneyadviceservice.org.uk.

Payday Loans Lender in UK

Loans in the UK - 31 day and twelve month instalment loans

Important Notice: Payday Loans should only be used for short-term financial emergencies and should (must) not be seen as a long-term financial solution. If you are experiencing credit difficulties please seek credit advice from free organisations such as moneyadviceservice.org.uk.

Are Payday Loans a reasonable solution to short-term debt?

In 2013, a major review followed by stricter regulation by the incoming Financial Conduct Authority who replaced the office of fair trading, oversaw the removal and/or change of policies of the lenders and brokers that caused such concern in the Payday Market. Loans with no credit check was hurting customers. Since then, direct credit providers have worked hard to see their Interim Permission for the Consumer Credit Licences upgraded to full authorisation.

With full authorisation, lenders and brokers are now properly regulated and have in place robust practices that ensure customers are treated fairly.

Therefore, the issues with finding trusted payday lenders are now resolved and this type of loan is a viable choice for those who cannot find alternative access to funding elsewhere that is more cost-effective.

Obviously, customers need to make sure that they check the Consumer Credit Licenses of any lender or broker that they may wish to use; full authorisation is best. Secondly, they ought to check whether the Lender is a member of a trade association – such as the CCTA. This helps in that it demonstrates the company’s willingness to be transparent and customer-focussed.

Before taking out a short-term loan of this type, the Applicant must calculate their income vs expenditure so as to avoid any problems with meeting their repayment responsibilities. At TheQuickLoanShopLtd, we have a handy calculator available to help in this regard. You need to make an informed choice. This is vital. Therefore, it is wise to visit a UK loan comparison site to compare payday loans online where you can observe the market and the rates to find trusted direct lenders only that best suit your individual needs.

To sum up, if you need a relatively small amount of cash for an unforeseen expense quickly, then a payday loan may just be the best solution providing you are sure you can meet the repayments.

Ultimately, you, the customer must be comfortable with your decision to use the services of a moneylender and we strive to put you first and to make sure you do not experience any apprehension or misgivings in taking out a payday loan.

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