If having a questionable credit history prevents you from borrowing money through the traditional channels of a bank or other mainstream institution, then a payday loan could be the thing you need to get you out of short term financial strife.
Payday loans have become popular in recent years and there are now a host of lenders offering them, but who offers the best payday loans or best short term loans for that matter?
The best payday loans(or short term) should be able to tick the following boxes-
– The loan should be easy to apply for and the lender quick to reply
– It should have a manageable interest rate and clear repayment schedule
– all possible fees and penalties should be presented clearly to you before you agree to anything
-The lender should have a good reputation for customer service
If you feel a payday loans lender isn’t being upfront about any of these things, you should walkway and try somebody else. There are a lot of lenders out there of short term loans, some offering better deals than others, so don’t jump at the first offer you get if deep down it doesn’t feel right.
The best payday loans are ones that you can repay quickly. Stretching a loan out over a long period of time will prove to be costly so if you are able to, I would strongly suggest taking out a short term loan that you pay back in just a few instalments.
To help you make the best decision about the best payday loans, here are answers to some commonly asked questions-
Where can I get the best payday loans in the UK with high acceptance?
Like everything else in today’s modern world, the best payday loans can be found online, with google searches for ‘best payday loans’ or ‘best payday loans lenders’ bringing up results in the thousands. Not all of these results will be payday loans direct lenders though, some will be brokers that can help you apply for loans with the lenders which might increase the chance of being accepted for a payday loan.
Because of the sheer number of lenders all advertising that they have ‘the best payday loans’ it can quite a task sifting through them all to get the most favourable terms and conditions for your current situation. Applying for each lender one at a time through their respective websites can take an age, and is often the reason for people accepting loans that are certainly not the best available to them.
Brokers, like us, take this problem away. You need only supply your details a single time using our online form and then sit back and wait. We will make sure your details are looked over by our panel of lenders and return to you with quotes for the best payday loans you can get. If you like the look of one of the quotes, you can accept it and have the funds in your account instantly. If not, simply say no, as you are under no obligation to accept anything and here’s a look at the worst case loan offers you might receive to compare:
Compare the best & cheapest payday loans
Length borrowed for
Monthly APR example Representative 1266%
These are likely worst case scenario loans that you’ll receive through short term high cost credit.
Which lenders offer quick payday loans instantly?
Interest rates for payday loans are generally higher than traditional bank loans because of the extra risk direct lenders take when offering loans to people with bad credit scores. However, that doesn’t mean that payday loans have to be super expensive or can’t be reasonably quick either. By only borrowing what you really need to help you through a fix, and paying the full amount back in a single repayment, or in as few instalments as possible, you can reduce the cost to you substantially and in some cases you can get accepted for instant payday loan payouts.
So which lenders offer the best student payday loans?
Well, that all depends on your current situation. You’re going to get much better loan conditions from a lender if you have good credit, or have someone with a decent credit score backing you up as guarantor. You need to shop around a fair bit to compare quotes and find the the best student payday loans that are out there for you. Short on time? Then sign up with us and we’ll broker the cheapest payday loans we can on your behalf.
Can I get a cheap payday loan with no credit check?
You might see loans advertised as ‘no credit check’ but actually, this isn’t the case. Payday loans brokers won’t do a credit check on you but the lenders they deal with will. However, you still have a chance of acquiring a payday loan with a bad credit score as long as your finances are in a better state at the current time. This is because payday loans lenders perform a different type of credit check than the one taken by a bank. When a bank performs a credit check, they use your credit file given to them by Experian, Equifax, or some other credit referencing agency, and go over your financial history. Any previous problems you had with debt with probably prevent you getting a loan.
This is not the case with direct lenders who are more concerned with how you intend to pay the loan back. If you can prove you have enough income to make the instalments on time and in full, and meet a few other basic criteria, you could be eligible for a cheap payday loan.
Who offers the best payday loans for bad credit?
Lenders of these types of loans differ in their fees, conditions, and more, so trying to pin down which one offers the best payday loans is quite difficult though payday loans for bad credit can work. They also act on a case by case basis, so while a certain lender may offer the best payday loan for one person, they may not be right fit for someone else. To give yourself a chance at finding the best payday loans, you should have your finances in order so that a lender can clearly see what you have coming in and going out each month. This will help them to make a quick and accurate decision about your application.
You should also shop around and compare the various quotes that you get, including the interest rates, fees and potential penalties, so that you know you are getting the best possible deal.
Who are the best guaranteed payday loans direct lenders?
Everybody who borrows money will have their own individual experiences, some good, others bad, but there are some payday loan direct lenders out there that have better reputations than others, but none of them can offer a guaranteed payday loan. This is why I always advise people to do their homework before accepting any kind of loan. A good place to start is a google search for ‘best payday loans’ or ‘best payday loans lenders’. You can then make a note of the top results that come up, and then do searches on those lenders individually.
It is also a good idea to read the feedback coming from previous customers of certain lenders. You can probably find a lot of this on payday loans public forums.
Online payday loans brokers can also help you find the best payday loans lenders, and should already have a panel of reputable companies that they regularly do business with.
Where can I find the best payday loans?
As we already mentioned, most lenders of these types of loans are found online. After you have looked into a few of the top name lenders and received quotes from them, you should compare them and keep these things on mind-
How good is the lenders reputation?
Do they have good customer service?
Has the lender been upfront and clear about all the fees and penalties?
Is this interest rate manageable and competitive?
Is this the fastest way I can pay this loan back and still be able to afford it?
If you can answer those questions with positive answers then you have probably found one of the best cheap payday loans out there for your current situation. To improve your chances of getting a cheaper quote, you could get a friend or family member to act as guarantor for you. They must have a good credit record in order to be of help though.
The most important thing when applying for a payday loan is that you are honest and truthful about your current situation, and also about any past credit problems, even if you find them embarrassing. Direct lenders will look more favourably upon you if you are upfront about these things rather than trying to hide them, which will hurt your chances.
If I get into trouble while paying my payday loan, who can I speak to?
If you did your research like we suggested and took your loan out with a company that has good customer service, they should be your first call. It might be possible to arrange something with them directly that will be satisfactory for both parties.You could also go to https://www.stepchange.org/debt-info/dealing-with-payday-loan-debt.aspx to get professional advice on matters of debt.
Whatever you do, please don’t bury your head in the sand and hope it will all go away. There is help out there for people in trouble with debt, but you have to be proactive about it and seek advice from those who are qualified to offer it.