People with bad credit history may need payday loans during financial crisis. There may be varying situations when you immensely require some instant cash. Payday loans are available in different forms to suit your requirement.
You can log on to LOANPIG.CO.UK website to fill online applications for borrowing payday loans from Loanpig. They operate from Manchester, U.K. to provide easy access to online borrowings as per the regulations of the FCA. Apart from being a direct lender, they also have group of reputed lenders for your choice. They offer affordable interest rates with faster loan processing time.
Payday loan lenders follow soft credit check just to verify your credit history. It does not significantly affect your credit scores. All you need to have is a fixed source for stable monthly income to take payday loans. You must fax or email your documents like identity card and credit files to the online lender to process your payday loans.
You can conveniently avail online payday loans through online form fill up and verification process. These are paperless formalities to provide online instant funds during your emergencies.
Here are few types of payday loans available in the U.K. –
- Bad credit loans
A bad credit history or low credit scores can hinder you to take loans from banks. Whether it is short-term or long-term loans, banks follow their procedure of making hard credit check to lend loans. They do not bother about your current income or emergencies. In case, bank rejects your application for loans, your credit score will have negative markings to further reduce your creditability.
Bad credit payday loans are offered to such people having low credit scores or no credit history. Even if you have bad repayment history, you can take these loans during your emergency fund requirements. Lenders carry soft credit check to issue a bad credit payday loan. These loans incur higher interest rates, because the borrowers have low credit scores and are high-risk borrowers.
You can plan to pay off your repayments within short period to avoid high annual percentage rates.
- Instant loans
You can mention and emphasis on your level of emergency requirement to your lender. Instant payday loans are small borrowings to cover fund shortage. You may have insufficient cash to pay some huge bills. Here you can borrow instant loans to fill this gap. These loans are available online and offline to borrow depending upon the lenders. The loan applications are processed faster to provide quick funds. Your can fill the form and answer few queries of your lender to get the loan amount within few minutes.
- Same day loans
With some lenders, payday loans take up to 24 hours from your application time to credit the loan amount in your account. These are known as same-day payday loans. It generally happens while borrowing from a broker.
There are misconceptions that loan brokers have higher interest rates than direct lenders. In fact, brokers are just an advertising media for direct lenders to reach their borrowers. These advertising charges are included in the interest rates irrespective of whether you reach them through a digital platform or a broker. You can securely borrow payday loans at the same interest rate from any FCA authorized direct lender or a broker.