Payday Loans With Bad Credit
Payday loans with bad credit
If you have a poor credit history you can still get a payday loan, it is not a normally a problem as long as you can demonstrate the ability to pay back the loan. While best efforts are made to find a lender from the panel of short term lenders willing to offer the loan are made, an offer of finance is not promised or implied.
Payday loans are not a debt solution. If you find that you are often struggling financially it is well worth seeking independent debt advice.
How much does it cost?
Interest charges on payday loans look excessively high if you look at the representative APR of 1737%. This is because payday loans are for short periods of time, up to a maximum of 31 days. The average cost of a payday loan is £25 for every £100 borrowed.
Representative APR is 1737%. If you were to borrow £200 for 30 days the total amount repayable would be £250.
Free Debt Advice
When you are worried about debt it often feels like you are facing it all by yourself. There is help on hand with several agencies offering free debt advice.
National Debtline View website →
Consumer Credit Counselling Service (CCCS) View website →
Community Legal Advice (CLA) View website →
Payplan View website →
Advice guide View website →