Payday Loans FAQ's

Quick Quid - 10 Minute Money

2012-03-04T09:39:00.001-08:00

How It Works

QuickQuid is dedicated to offering the fastest and most hassle-free lending available. Our simple loan process is designed to get you the money you need, when you need it most. Here’s how it works:

Apply
Apply online with our easy application
Approved
Receive quick approval^¶
Funded
Cash sent to your bank account within 10 minutes of approval, 24/7^§

Funding Schedule

Depending on your bank and our approval process, most customers will have funds sent within 10 minutes of approval.^§ And, there's no extra cost for this fast funding service! You can even get money on weekends and bank holidays — that's 24 hours a day, 7 days a week!^§.

Loan Requirements

You must satisfy the following requirements to receive a payday loan from QuickQuid:

Must have a valid UK bank account that can receive direct debit
Must be at least 18 years of age
Must be employed and receive a regular paycheque or salary
Must be a resident of the United Kingdom

QuickQuid Payday Loans
The Cash You Need Sent in Just 1 Hour. Get
up to £1500 by calling 020 3106 5575

Free Cash Locator- Borrow £80-£700 from just 1 minute online application.

2011-12-31T01:45:00.000-08:00

Free Cash Locator is one of the hottest offers in payday loan circulation. Easy 1 page application make it simple to apply for instant cash, a frequent high performing offer for our publisher base.

How it works-

Payday loans are simple! Just fill out our 1-page application and we'll search our database to find the right lender for you. Get approved in minutes and receive your cash advance via direct deposit within 24 hours or less. Then, you're free to spend the cash on what you need!

To get a loan, you must be a UK resident, at least 18 years of age, and have a valid bank account. Apply now

Repayment of Your Loan

Repaying your payday loan is just as simple as the process of getting the loan. There are no hidden costs with the payday loans from our lenders, so you won't be caught off guard by surprise charges. Repayment amount includes the amount borrowed plus the interest accrued. The loan finance charge, also known as the interest rate, is typically 25% of the total amount borrowed, which is the same as £25 per £100 borrowed. And although the typical APRs range from around 1355% to 2356%, the loans are for such a short period of time so you may in fact end up paying less actual interest than if you borrowed the same amount on a credit card and paid it over a period of several months.

Generally, the loan is paid in full on your next payday. For typical amounts borrowed and corresponding repayment amounts, see the table below.

You Borrow	You Repay
£80	£100
£100	£125
£200	£250
£300	£375
£400	£500
£500	£625
£600	£750
£700	£937.50

Representative 2623.3% APR. Representative example: Borrow £225 for 29 days. The total charge for credit is £67.50. Interest is fixed at a rate of 377.8% p.a. The Total Amount Repayable is 1 payment of £292.50.

Advantages and Disadvantages of Payday Loans

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Payday loans provide you with hard cash in a short span of time. Payday loans are suitable for someone going through financial crisis. In the event an individual goes bankrupt and is unable to meet the high cost of his utility and medical bills, payday loans can be very helpful. Payday Loans are given by private lenders or lending institutions in the form of cash advances on Payroll cheques.

Advantages of Payday Loans

Payday loan facilitates UK citizens to get loans up to £750.00 in cash within a day’s notice. Applicants with bad credit history, adverse credit, CCJ's, bankruptcy and defaults also stand an equal chance of obtaining Payday Loan coverage. An applicant should be at least eighteen years of age to apply for Payday Loans in the UK. One, however, needs to prove that he is currently employed when applying for such loans.
Whether the expense involves going for a dream vacation, repairing a car or perhaps making home renovations, payday loans provide an individual with the cash he is looking for. In order to do so, he must have a current and active bank account. Payday Loans come into the scenario when individuals are facing the most challenging financial crisis of life. Payday loans act as a fixing tool to repair virtually any inevitable expense in the life of an individual.
Sometimes, you have to pay utility bills by a certain date. Not having cash may mean you not being able to pay the bill on time. The utility can be disconnected leaving you with no way to get a reconnection quickly. A payday loan may help you stay out of such a situation. Unanticipated house repairs may pose problems as well and a payday loan helps avoid an unwanted situation.

Disadvantages of Payday Loans

Payday Loans are available at high interest rates and only UK residents can avail this opportunity. One should keep in mind that he should repay the amount of loan before the expiry of the repayment period. Failing to do so could result in repaying the loan amount with significantly higher interest rates.
It is important to realize you are the one responsible for the repayment of a payday loan in full. Not doing so can affect your credit standing negatively. Once your credit rating is affected, it is difficult to apply for loans and credit cards.

The loans and credit cards available for people with bad credit have lower limits and high rates. If your credit is affected adversely, you have to work hard to rectify the situation. It may even include consultations with a loan specialist. For these reasons, understanding your financial constraints is very important when it comes to choosing the type and amount of a payday loan.

Cash when you need it!

2011-09-13T14:53:00.000-07:00

aydayUK is here to help!

Apply for a payday loan from £80-£750 and you could have the money you need in your account by midnight¹ everyday of the week.

Apply in two minutes APPLY NOW

Do I qualify?

To apply for a payday loan, you need to:

Be over 18 years old
Be in permanent employment
Earn more than £750 net per month
Have a bank account with a valid debit card
Be paid monthly

If you can answer yes to all the statements above, you are entitled to apply for a payday loan.

How do I get a payday loan?

Borrowing from PaydayUK is simple and fast! We give quick online decisions, normally without the need for faxes or post³
You are just a two minutes away from your payday loan decision!!
All you need to do is:

Fill in our fast application form
Within a minute we will tell you if you have been approved
Once you’ve been approved, then enter your bank account details (so we can pay you) and debit card details (so you can repay us on your payday)
Your loan agreement will be displayed online for you to sign

Representative example: £750 borrowed for 28 days.
Annual interest rate of 300% (Fixed).
Total amount payable by one repayment is £937.50. 1737% APR Representative.

³Occasionally we will be unable to confirm all details automatically. Should this be the case we will ask you to fax in simple documentation for us to be able to complete the application process.

Are payday loans right for me?

Payday loans can help with various types of financial emergency. You can:

Pay those 'Final Demand' bills
Organise emergency child care for your children
Pay your MOT repairs – just in time!

How much money can I borrow?

You can borrow from £80-£750 depending on your circumstances. To find out how much you can borrow complete our quick payday loan application form today!
We charge £25 per £100 borrowed – nothing more!
There are no arrangement fees to set up the loan.

How do I repay my payday loan?

Repaying your payday loan could not be easier.
We simply debit the payment from your debit card on your payday for the agreed amount – no fuss and nothing further for you to do.

Can I defer my payday loan repayment?

We do understand that occasionally people will need to borrow money for a second month. We call this a deferral. You will have to repay the charges and we suggest you pay as much as possible to reduce further charges.
If you feel you may need to defer your loan, please contact our customer services team on 0871 271 6111 (Call charges apply – 10p per minute from BT landlines, mobiles and other providers may vary) where one of our dedicated advisers will be pleased to help you, or visit the Existing Customer Login.

Existing PaydayUK Customers

Existing customers are provided with an Existing Customer Login and may apply there directly, meaning even less hassle!

For more information visit: PaydayUK

Guide to Pay Day Loans

2011-09-08T18:17:00.000-07:00

What are pay day loans?

Pay day loans can offer a quick fix if you are needing funds for an emergency and have no other way of sourcing the money.

Pay day loans are also known as short term cash advanced loans. They are short term loans designed to see you through until the next pay day. This is particularly useful when faced with an unexpected bill or an emergency for example.

With standard personal loans it is common for the application procedure to take up to a few days, whereas a pay day loan can be applied for online and authorised within minutes. Even people with slightly tarnished credit ratings can apply for these short term loans as the lenders are more concerned with proof of regular earnings than past credit history.

Shopping around for the best pay day loan

With the aid of the Internet, shopping around for a pay day loan is incredibly simple. There are numerous finance companies who offer pay day loans along with a variety of high street lenders, most have the facility to apply on line. This speeds up the application process, meaning you will often receive approval within minutes of submitting your application and funds could be deposited into your account as quickly as the same day.

Make sure you fully understand all aspects of the loan before proceeding

To qualify for a pay day loan the general criteria is;

Must be a UK resident
Must be18 years of age or over
Must be in full time employment
Must have a regular salary
Must have a bank account

Lenders tend to concentrate less on past credit ratings and more on the current ability of the applicant to repay the loan. Repayment is usually made 30 days after the funds are deposited.

When shopping around for the best pay day loan it is important to consider certain key features;

Features of the pay day loan...	Comments
Administration costs	Are there any costs to start the loan?
Interest charges	What is the loan going to cost? It is common for this to be stated as an annual percentage rate (APR). This is the percentage of the loan you would be charged if the loan was taken over a 12 month period. Some Lenders list the costs as £X per £50 borrowed. ie; a charge of £8 for every £50 borrowed, so if £100 was borrowed, £116 would be repaid in 30 days time.
Term of the loan	How long is the loan term? Some companies will lend money for as little as 8 days. Most pay day loans are expected to be repaid in full at the end of 30 days. An extension is sometimes available if required. If an extension is required, what is the charge for this?
Penalty charges	Are there any charges if the loan is paid off early? Are there any charges if you decide to extend the term of the loan?

Apply for a pay day loan

Once you have decided that a pay day loan is the right type of loan and you have chosen a suitable lender it is time to apply. As pay day loans are generally sourced for their fast turn around, online applications lend themselves to this. However, the application process can be done by fax, telephone or in person.

For the purpose of the application you will be required to provide information such as;

Full name
Residential address and length of time spent living there
Age
Name of employer
Contact details for employer
Salary amount
Frequency of pay
Date of next pay
Position held in company
Amount of loan required

You may also be asked to tick a box which allows the Lender to perform certain checks to prove identity, employment and past credit rating.

Once this application has been submitted it is possible to receive a reply within minutes. Once approved the funds maybe deposited into your account that very same day or early the day after.

Most pay day loan companies will have a facility which allows you to repay the loan over the next two pay days, if this is more convenient. However, you should remember that interest will accrue, making the cost of borrowing the money more expensive than if the loan was repaid within the first 30 days.

Frequently Asked Questions About Pay Day Loans

Are companies who offer pay day loans regulated?

Unfortunately there isn’t a great deal of regulation for lenders who offer pay day loans. However, any lender who provides pay day loans must first have a Consumer Credit License which is issued by the Office of Fair Trading, this really is the only requirement. Some Lenders are members of British Cheque and Credit Association (BCCA). This organisation has a set code of practice must be adhered to by their members. One thing that they do discourage is the rolling over of pay day loans. This is mainly due to the high interest rates which are charged on these short term loans. If a pay day loan can not be repaid over the short term it may be advisable to consider alternative personal loan options.

What is APR?

APR or Annual Percentage Rate, refers to the amount of interest which is charged, assuming that the interest was charged yearly. So, on a loan of £100 with an APR of 6%, the interest payable per year would be £6. Most pay day loan companies tend to focus on actual amounts, ie; for every £50 borrowed, £57 is repaid at the end of the loan which means the loan cost £7.

What is the difference between a personal loan and a pay day loan?

The main differences between a personal loan and a pay day loan are;

Application time for a pay day loan is often much quicker.
Funds can become available the same day in many cases with pay day loans. Whereas personal loans can take a few days or more.
The lenders are more concerned with the applicant’s ability to repay the pay day loan, whereas lenders for personal loans place more emphasis on the applicant’s past credit history.
Interest rates are often much higher for pay day loans.

Where to get more help and further information about pay day loans

Where to get further help and assistance with pay day loans To assist you further, below are some links which may provide further information;

You can check your credit rating online at experian.co.uk

The citizens advice bureau can offer help and guidance on issues relating to debt management.

For further information on the code of practice which was introduced by British Cheque and Creditors Association visit their site www.bcca.co.uk/

Take a look at the protection which you are offered as a consumer at the Office of Fair Trading.

Payday loans provider:

Thames Financial Payday Loans

Unexpected bills or financial setbacks can cause havoc for your bank balance. Thames Financial Payday Loans can help with temporary spending money to get you out of a tight spot. We offer payday loans from £50 to £750 in value and compare multiple lenders to ensure you get the best rate. If you need spending money fast we can get it to you in 24 hours in most cases. No faxes, credit checks or complicated forms to fill in.

Quidtilpayday

Quid Till Payday is a powerful UK Payday loan offer with over a dozen of the leading sub prime lenders available in the UK

Payday Finder

Payday Finder, your payday loan resource is a proven winner in the payday loan world.