Total interest payable by one repayment: £84. Representative APR 1223.6% (Variable)
When you are hit by a financial crisis and are forced to take a loan, you should plan carefully. Your finances are already burdened. If you put additional burden on it, it may become unmanageable or further aggravate your situation. You should plan well before taking a loan.
There are broadly two types of loans available; secured loans and unsecured loans. A Secured loan is given against a security or collateral. You have to pledge your valuable asset or get somebody as guarantor to be able to be eligible.
But, secured loans allow you to get bigger amount of money on low interest and with a longer repayment period. If you can afford it, you must go for it. It's an ideal way of managing your finances if you are forced to take a loan.
Unsecured loans on the other hand are provided without asking you for a collateral. You can avail it in a hassle-free way. But, you will get small amount only for shorter periods, say a few months to a year or so. The interest charged is higher because the lender is exposed to a greater risk due to unavailability of security.
You should take unsecured loan in most urgent cases only for the minimum required amount, and repay it at the earliest. The cost of unsecured loan depends upon amount and duration. You should decide both the things judiciously. A wrong decision can turn out to cost you more money in terms of interest and fees paid.
When you are choosing a loan, you should weigh various options to take most of it. If you currently have a poor credit rating, you should go for Loans For Low Credit .The lenders will consider your application if your current income and ability to pay back the loan is good.
You must understand that the loan comes with a cost. When you are in need of money, try other options before applying for loan. If you can manage without loan, it would be better for you. Further, before applying, you should calculate how much the loan will cost you and whether you will be able to bear the cost.
Taking a loan and falling into a debt trap should be avoided as much as possible. Calculate how much you will be forced to shell out on monthly basis and then decide the loan amount.
Read the terms and conditions thoroughly and understand them. If you have doubts and queries, clarify them before applying. Half understanding the terms may force you pay dearly.
Check out with the lender whether additional fee is applicable. Many lenders charge processing or administrative fee. Calculate the overall cost of loan in the light of the extra charges.
A few loans offer flexibility in repayment. You can take a break while repaying. You can avail it if you like. It will help you to manage your finances well.
If you have doubts or queries regarding the application process, you can contact us anytime. Our friendly and knowledgeable representative will try to help with you all the required information to enable you make an informed decision.
The operator of this website is not a lender and does not make credit decisions. The information you provide will be used in securing you a payday loan through our UK network of leading Payday Loan Lenders and Brokers. The personal, financial and employment information that we collect is stored electronically for the duration of your application and is removed from our system upon acceptance from a lender.
Please note that payday loans are meant to be used for short term financial emergencies and are not designed to provide long term solutions.
We expect you to repay your loan on the date agreed, so if you do not think you are in a position to make your repayments please do not apply with us in the first place. It is not worth risking your credit rating nor any financial consequences which might result.