Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Reasons for a Payday Loan
Itís not difficult to understand why you have come to LoansProfit.co.uk. Here, you can apply for an amount of money, between £100-£1000 that you can use to settle your emergency bills. When you are in an urgent situation and you donít have time to waste, you can fill in our application form within just a few minutes and get a decision shortly after.
LoansProfit is an online brokerage service. We work with a large panel of online lenders who are experienced in the market. The lenders we work with specialize in providing payday loan deals to meet the demands of our customers. There are many people everyday who find themselves with a short term need to get hold of money quickly, before their next payday and this is exactly where we can help.
Loans Profit is a broker, not a lender. We offer a loans finder service by giving you access to over 40 lenders with just one application. We are not a provider of credit and we do not charge a fee for our service. Not all lenders charge an admin or arranger fee but some do so be sure to read the Terms and Conditions of your agreement before you accept it. Applying online, using our website saves so much time because you donít have to go and stand in a queue in the high street. Once you have filled in your personal details, you just wait a couple of minutes and a decision will be on your screen.
Most of the lenders we work with are payday loans lenders, so you will be able to borrow from £100 to £1000 for a period of up to 2-4 weeks or until your next payday. We also work with other installment based lenders. These loan deals will be offered to you if your circumstances are best suited to these offers. Lenders make the decision on what loan is the best for you, based on the personal details you include on your application form.
Just because you have applied for a loan, using our service, it doesnít mean you have to accept it. If there is something about the offer that youíre not sure of or you were looking for different terms, then you can simply decline the offer made to you. Similarly, our lenders will accept not everyone who applies for a loan. We work with responsible lenders who only offer a loan to people who they believe are in a position to pay the money back during a set timeframe.
Collection Practices: It is your responsibility to check your loan agreement in full. If you feel you may be unable to meet the terms of your loan then you must contact your lender right away to discuss an alternative solution. Failure to repay could ultimately lead to the lender making an alternate arrangement with a third party debt collection agency. Lenders usually reserve the right to utilize the Continuous Payment Authority to repeatedly attempt to take payment from your card up to 90 days after your loan payment is due. Please check your own Terms and Conditions on your signed loan agreement for further details.
Renewal Policy : If you pay your first loan off successfully and then you find yourself requiring another loans then most lenders do offer this service. Once you have built up a reputation with a lender, they may be able to offer you a larger loan amount or a better rate of interest. Youíd be advised to speak to your lender directly about the options available to you. You would still have to make another application with them so that they can assess your situation at that particular time. You are also advised to ensure that you have the capacity to pay the loan back on time.
Implications of non payment : It is important that both you and your lender work out a mutually agreeable plan for debt clearance. It is necessary to clear the debt within the terms laid out in your agreement. The failure to repay has its fair share of financial and legal repercussions. Most importantly, the repercussions will adversely affect your credit rating. If you feel like you are in a situation where you may not be able to make the agreed repayments, then you must contact your lender immediately.
Representative 277.5% APR: Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed). The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable).
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