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At the height of the financial crisis, more than 8.2 million loans were taken out in the UK. With traditional credit alternatives drying up, more and more of us turned to payday loan lenders in the UK to solve our short-term financial woes. But, times have changed, haven’t they? Well, not quite.Ten years later, and Brits are […]
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If you have bad credit, you might be searching for a no credit check loan. You may have been turned down by more traditional lenders, and are therefore concerned that you won’t be able to borrow the funds you need. While loans without credit checks don’t really exist, there are options available, regardless of your […]
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Applying for a loan can be incredibly stressful and time consuming. Although you don’t need to visit a local high street bank anymore in order to take out credit, even online applications can be challenging. You can spend hours comparing lenders, and then you may not even be approved by the first lender you try, […]
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As with most things, if you’ve never applied for a loan before, you probably won’t know what to expect. What information should you have to hand, and what questions will you be asked? Will you be eligible for the loan? While no two loan applications are exactly the same, we can help give you a […]
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You’ve probably heard of secured and unsecured loans, and may be aware that all loans fall under one of these categories. But how much do you really know about either type of loan, and can you always tell the difference between the two? We’ve outlined the basic facts below, to help you decide which type […]
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There are two different types of loan – unsecured and secured loans. Both come with their own advantages and disadvantages, but which type you choose will generally depend on three things: your credit history, the amount you need to borrow, and what the loan is for. For instance, if you have a good credit score, […]
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When it comes to taking out loans, you will almost certainly come across the terms ‘secured loans’ and ‘unsecured loans’. All loans will fall under one of these categories, but unless you’ve done a little research, you may be uncertain about the similarities and differences between the two. To make it simple, we’ve therefore outlined […]
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You may have heard about a few of the disadvantages of payday loans, such as their higher interest rates when compared to long term loans. But will you really be paying back that much more interest overall? As the loan terms are much shorter, this is not always the case. There are many other benefits […]
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If you find yourself in a situation where you need cash fast, you may be considering taking out a payday loan. But if you’re new to short term credit, you may not know much about payday loans themselves, or what lenders are available. You may also be concerned about eligibility. If this is the case, […]
Continue Reading When it comes to short term loans, everyone has heard of payday loans. But what do you really know about how they work? Are the interest rates as high as people think, and are there any advantages to taking out a payday loan? As with most things, there are advantages and disadvantages to taking out […]
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When it comes to short term loans, it’s not always easy knowing which is the best option to suit your needs. So how do you decide which type of short term loan you should opt for, and how do you calculate the interest rate? For most people, the sort of loan you take out will […]
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Some aspects of a short term loan are obvious. They are repaid over less time than a long term loan, for instance! But what other factors make short term loans different from longer term loans? We’ve explored these factors a little more below, but the simple answer is that for the most part, both types […]
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Most people have heard of a payday loan. They are famous for having high interest rates, and are thought to only be aimed at individuals with a bad credit score. But these are generalisations – there may be more to a payday loan than you realise. Why Might You Need a Payday Loan? A payday […]
Continue ReadingWhile it may be obvious from the name that a short term loan is repaid over less time than other forms of credit, what other factors make up a short term loan? How easily accessible are they and do you need good credit to apply? There are a few different types of short term loan, […]
Continue Reading If you have a poor credit rating, you may ask yourself whether or not it’s easy to get a loan with bad credit. Or perhaps you’ve been turned down by a few lenders, and believe that your credit score is stopping you from getting a loan. But there are a number of loan options available […]
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Bad credit can make you feel like you don’t have any options when it comes to taking out a loan. You may have been turned down by more traditional lenders, and believe that they are the only option available. But this is not the case – even if you have a poor credit history, you […]
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Finding the right lender can be difficult. And if you have bad credit, your options may be more limited. So if you’re looking for a short term loan, you may be wondering which lenders are more likely to approve your application with a poor credit history. The first thing to consider is what type of […]
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If you’ve got bad credit, you may not be sure how to take out a loan, or if you’d be eligible. While it can be more difficult to take out certain types of loans if you have a low credit score, you should still be able to borrow money when you need to. But what […]
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If you’re looking for a loan with bad credit, you may feel like your choices are more limited. While there are a variety of short term loan options available, it can sometimes be more challenging to take out traditional loans, like bank loans, with a poor credit history. So where can you get a loan […]
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If you have bad credit, it can be more difficult to take out certain types of loans. A lot of more traditional lenders require you to have a high credit score, especially if you’re trying to take out a large loan like a mortgage. So how do you get a loan with bad credit? Types […]
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For those in a tight financial spot in can be difficult to come to a decision on the best course of action. If you’re unable to call on the assistance of close friends or family members in a time of a financial uncertainty, the most common options are going over your current account limit with […]
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Research from consumer champions Which? has found that bank overdrafts can be eight times more costly than payday loans. Borrowers needing as little as £100 could be charged up to £156 more by their bank than it would cost at a payday lender, it has been revealed. Which? compared the cost of borrowing £100 for […]
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Looking for an alternative to a short term loan? Well good for you: researching all of the options available to you will help you make an informed decision to get you back on the right track, financially speaking. Finding a way to pay your debts that will not cost you more money is the choice […]
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Originally written By Brian Milligan (Personal Finance reporter) on 8 July 2016 at the BBC. Borrowing money on an unarranged overdraft from your bank can be more expensive than taking out a payday loan, says consumer group Which? Anyone who borrows £100 for 28 days from a payday lender now faces a maximum charge of […]
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Getting a payday loan can seem incredibly tempting You get fast money: immediate cash to splash out on whatever you want. But there is a reason that payday loans get the bad press that they do. It is extremely easy to get caught out with loans of this type, and you could end up in […]
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