Warning: Late repayment can cause you serious money problems. For help, go to MoneyAdviceService.org.uk
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Which payday loan is best for people with bad credit?

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Repayment statements make it easy to follow your progress – Keep on top of your plan

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The Important Parts

Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

Note: Loanago is NOT a lender – we are a licensed broker working with the most popular direct lenders in the market to find you the most suitable short-term loan plan. Our FREE quoting service compares more than 40 lenders quickly and finds you a lender with the lowest rate that they are willing to lend to you today.

Warning: Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Loans subject to status. Over 18s only. Minimum loan amount may apply.

Rates from 4.5% APRC to 500% APRC are available – the highest rate is for customers with severe credit problems. Loans available from 1-25 years. TYPICAL 10.9% APRC variable

Lenders Facts

Loan amount
£50 - £2,000
Loan term
3 Months Only
CUSTOMERSCORES
Good
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Loan amount
£200 - £1,000
Loan term
3 - 6 Months
CUSTOMERSCORES
Excellent
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Prefer Online Lenders to get Quick Payday Loans in the Trouble Free Manner

Today most of the people have started to prefer online lenders for applying small and short term loans like payday loans and etc. There are many reasons why people prefer online lenders instead of banks and other financial institutions in their location. One of the major reason is the individuals will not have to face many troubles that they use to deal with in banks and private financial organizations. The loan amount will be sanctioned in the hassle free manner hence the individuals can get the quick payday loans online easily as they desire.

Benefits in getting a Loan Online

Actually, there are many benefits in getting quick payday loans online. Most of the people will not be aware of those things and that is the main reason why still many people are going to banks and approaching private financial institutions for this purpose. If you are one among those people who have no idea about the advantages in choosing online lenders then you can get some better ideas here. As it is mentioned already, the online lenders will not have many procedures that are to be followed. But when it comes to banks or other similar institutions there will be many procedures to be followed.

Apart from that, the individuals may have to wait for some time to get the loan amount sanctioned. But in the case of online lenders, the loan amount will be sanctioned within the short period of time. This is one of the major advantages in the choosing the online lenders for your purpose. Credit score will be the major problem for most of the people who are applying for the loan. The banks and the private financial institutions will sanction the loan amount only if the person has good credit score. But most of the online lenders do not consider the credit score of the person, therefore, the person who has bad credit score can make use of this option and get quick payday loans online.

Overview of Payday Loans

Though today many people are eagerly applying for payday loans in order to meet their short term financial needs, still there are many individuals who do not have any idea about the payday loans. If you are one among them then this is the time to get to know about that. Actually, payday loans are generally known as short term and unsecured loan which is offered by many online lenders these days. The person who applies for this loan does not have to submit any collateral and also there are no many criterions for getting this loan.

The only eligibility to get this payday loan is the individual must have a source of income. Those who do not have that are not eligible for the quick payday loans online. As it is in the name, this loan is completely based on the next payday of the borrower. The loan amount will have to be repaid on the next payday, therefore, it is must to have a source of income. The individuals who want to get payday loan do not have to concern about their credit score. It is because most of the online lenders do not consider credit score for sanctioning the loan amount. Therefore there will not be any issues in that case.

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Applications Accepted

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With Bad Credit

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Return Customers

Options to Return the Loan Amount

Once the loan amount is sanctioned, it will be transferred to the borrower’s bank account. The individual has to choose the repayment option according to their convenience. Generally, some of the lenders will require the borrower to give a post dated cheque so that the lender can redeem the cheque easily in order to get back the amount. Meanwhile, some of the lenders will avoid the cheque process and they use to prefer electronic transfer in order to make the process simple. They use to take the loan amount on the payday and this will be the comfortable way for the lender as well as the borrower. It is because both of them do not have to go anywhere for money.

Tips to find the Best Lender

As there are many online lenders in the present days, it will really be challenging for the people to find the best among them. But it is not a big deal as they imagine. They are able to identify the suitable lender by spending some time in online. Today plenty of sites are having the information and reviews about the lender, therefore, the individuals can go through those things and get an idea. It is always better to compare the loan details in order to find the best and apt lender for applying for the quick payday loans online.

5 most recent personal loan reviews

Review of Funding Circle

Very quick response and good safety features. Speak to real people once the application has been logged. Very simple to fill out. Would definitely recommend Funding Circle to anyone.

Review posted by Gary Craigs, Dumfries

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Savvy

Really Great Service! Thoroughly recommend! Have dealt with several loan companies & Savvy is definitely the best, easiest, professional & they do exactly what they say unlike many other financial companies that lead you up the garden path!

Review posted by Helen Stern, Sheffield

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Capital One

I have poor credit and really needed the money to pay a court fine or be up against the magistrate again. Really helped me out and I found the charges for the credit very reasonable. Would highly recommend if your in a pinch. Great customer service and went out of their way to help get the loan out the same night I applied. Started 6pm and had money in the bank before 10pm. Great service.

Review posted by Blake Harrington, Margate

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money
All reviews have been sourced from Trust Pilot to ensure the authenticity of accounts.