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Sep 26, 2019

Payday Loans

If you have an unexpected expense it is easy to feel overwhelmed and not know where to turn. Getting a loan can the best solution to your problem, but it easier said than done to qualify for a loan. In most cases, getting a loan can be a long process that takes weeks to complete. This can leave you waiting long periods to get access to the money that you need most. When you find yourself in debt and looking for a way out, you can look into payday loans. These are loans that could be a great option for you. Payday loans are known to be the simple solution.

Here is everything that you need to know about payday loans:

Small Amount

Most loans are for large sums of money that take years to pay off. This is not the case with payday loans. These loans are typically for smaller loan amounts that are designed for you to pay them back in a matter of weeks. The main reason why they are referred to as payday loans is because it is a loan that you can typically repay the nest time that you are paid. It is a type of loan that is designed to help you make it through until your next payday. When you only need a small amount of money to get by, you can look into payday loans and make them the loan type of choice.

Credit Doesn’t Matter

Another advantage to payday loans is that this loan does not take your credit into considdration at all. Your credit will not matter when you are trying to apply for a payday loan of any type. In most cases, your credit will not even be run at all when you are getting a payday loan.

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Representative example: if you borrow £550 over 18 months at a flat rate of 180% per annum (fixed) with a representative 770% APR you will make 18 monthly payments of £113.06, repaying £2,035.08 in total. Rates from 45.3% APR to 1721% APR. A short term high cost loan should not be used as a long term solution. We are a broker not a lender. We don't charge fees. We don't sell your personal information. We may receive a commission from the lender.

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