What is different about a payday loan?
A payday loans is a certain kind of lending product which was invented by financial firms as a product they could offer regular people who face some sort of emergency and need to borrow some money really quickly. They are the better answer to the traditional methods of a pawn shop or loan shark. Payday loans are for normally less than a grand and less than one month and to be repaid when the borrower gets paid again from work. They are quite easy to get for a large portion of the population, and can be found simply and easily online through MumPayday.
Can I apply for a payday loan?
Well, we don’t know you exactly, but most likely you can apply. As long as you are at least 18, have a job with a regular monthly salary, have a bank account with direct deposit on it, and are legally allowed to live in the UK you are able to apply for a payday loan. If that description matches you, then you’re good to go.
How much money can I get?
The smallest amount you can apply for is $100, with the highest being $1,000. Note that you can ask for any amount between those two numbers but the lender we match you with will make a final determination of how much they offer you based on their actuary tables.
What do I need to put on the application?
Not really anything more than you would have to reveal in order to get an Oyster card. We’ll need some personal information like your name and address, some information about your job and pay, and some information about your bank and bank account so that we know where to send you your cash. Nothing more.
My credit history is…bad – do I even bother applying?
You should definitely apply, because it really doesn’t matter. If you meet the basic requirements, you can apply and get approved, regardless of your credit history. A huge benefit of payday loans is that they don’t require credit checks so you are just as likely to get a loan as the next guy.
How do I get a payday loan?
Our application is probably the easiest loan application you will ever fill out. Just follow the instructions and complete the fields with your information. Once complete, our automated matching system will match your application to the perfect lender, and in minutes you will hear from the lender regarding your approval decision. If approved, you’ll get a loan agreement to review, and once you approve that you will get the money sent straight away to your account.
How much does Payday Loans cost?
Zero pounds and zero pence! Our site makes money from the lenders through commissions on loans which are set up through us. That means that we don’t have to charge you a single penny!
Is it safe to give you my personal and banking information?
Will I need to fax anything?
It’s not very likely. Every now and then a lender wants to see a document faxed during the approval stage, but it’s pretty rare and you shouldn’t expect to fax anything.
Can I choose to not take out a loan once I’m offered one?
Yes! You are not required to sign anything you don’t want to, or take out a loan you are not comfortable with or do not understand. There is no penalty, so if you don’t like the loans you are offered, just walk away.
Will I get the money quickly?
Oh yes. After agreeing to the loan terms, your lender instantly sends the money to your account. Depending on a number of factors, chiefly the policy of your bank, you will most likely see the money the following morning.
If I rent my flat is that a problem?
Not at all. Although we ask as part of the application process, your status as a renter does not affect your getting approved for a loan
Will you ask me why I want a loan?
No. We feel that it is a huge violation of privacy to pry into the personal reasons why someone might now a few quid in a pinch, and we, nor our lenders, will ask what you need the money for. Use it for whatever you want, as long as it’s legal.
I got a payday loan but now I need more money, can get another one?
You are free to have as many payday loans as you like over the course of your life, but you are limited to only having one outstanding loan at any one time.
How often can I get a payday loan?
You could get a payday loan every month after you have repaid the previous loan. Though, if you need one every month, you may want to examine other areas of getting long-term financial and debt relief as payday loans are really only designed for emergencies.
Will you verify anything with my employer?
We care about your privacy and will not contact your boss or anyone else you know to verify your details or for any other reason. We are discreet with your application
Do I really have to have direct deposit?
Yes. We simply cannot get you money quickly and have you repay the money on time without it.
When will my loan come due?
Payday loans are designed to be repaid on the payday after taking out the loan, so that will most likely be the due date for your loan. Since each loan is unique, check your initial loan agreement to find the exact due date.
I’m not sure I’ll have enough cash when the loan is due, what should I do?
You should not hesitate to contact your lender and inform them of the situation. They can help you find a solution to repaying the loan in a different way. They might be able to offer an extension or some other relief program. Repaying a loan late can cost you a lot of money in penalties and fees.