Why do you need a Payday Loan?

Have you found yourself in a sticky financial situation? Perhaps you cannot pay your electricity bill this month? Maybe your computer has broken, and you need a new one for work purposes? No matter what applies, if you need short-term, fast cash, a payday loan could be the perfect solution for you.

What Are Payday Loans?

A payday loan is a financial product that enables you to borrow a small sum of money over a short period of time. These loans are unsecured, meaning none of your assets will be tied into the agreement, and they are designed for those emergency moments where we need quick cash to tide us over until we have been paid. This could be to cover an unexpected car repair bill or to ensure you pay your rent on time and don’t end up in trouble with the landlord!

What Can I Use this Loan For?

An increasing number of people are taking out payday loans nowadays. In fact, they have received quite a bit of negative press. Unfortunately, this is because there are a lot of people that attempt to take out an instant loan when they know that they cannot afford the repayments.

Here at LoanPig, we pride ourselves on being a responsible lender, ensuring that the payday loan you receive is right for your situation.

So, when is a payday loan advised? These loans have been designed to help those that find themselves in a short-term monetary emergency that needs to be dealt with as soon as possible – you cannot wait until your next payday.

Although not all payday loans are payable by the next payday, you do only have a short period of time to repay the loan, i.e., six months to a year at the very most. You should never take out a payday loan if you have a long-term financial problem.

This will only make the situation worse. Instead, payday loans are ideal for the likes of unexpected bills, dealing with imminent overdraft charges, paying for a broken down car, and such like.

If you know you have the cash coming in at a later date, payday loans can stop you from incurring excessive charges in the immediate future or a late payment flagging on your credit file.

How Do I Apply For A Loan?

We know that if you have found yourself in an emergency financial position, you will want the problem rectified as quickly as possible! This is why we have committed ourselves to make sure that the process of applying for a loan is quick and easy. In order to make an application for payday loans online, we will require the following information from you:

– You must

  • be a UK resident
  • be 18-years-old
  • have an active bank account and bank card
  • either be in permanent employment or through receiving some form of disability/living allowance or a pension

Once we have proof of the above, we will process your application as quickly as possible so that you have complete peace of mind.

When Will I Receive My Payday Loan Money?

One of the main benefits associated with payday loans is the fact that you can receive your cash much quicker than you would if you want down another route.

At LoanPig, we work around the clock to ensure our clients get the cash they need as quickly as possible. If you make an application on a weekday, prior to 3 pm, you could get your money the very same day.

If you apply for a payday loan on the weekend or after 3 pm on a weekday, you will likely receive payment the next working day.

How Do Payday Loans Differ To Other Loan Types?

Payday loans differ from other loans because they are designed for short-term, financial emergencies. These loans enable you to borrow up to £1,500, with the longest repayment period being 12 months.

You don’t need to go through the lengthy and long-winded process of applying for a bank loan, and you don’t need to be tied into a repayment scheme for years on end. Instead, a payday loan will give you access to fast cash so you can deal with any immediate financial troubles, paying back the loan from your upcoming wages.

We Are A Payday Loan Broker And Lender

LoanPig are one of the few remaining true Payday lenders in the market, we are a direct lender and a broker, which means we have a much bigger selection of financial products for you to choose from, if we cannot lend to you ourselves, giving you the best of both worlds and ensuring our clients get the best payday loans UK for their situation.

We Don’t Rule Out People With Bad Credit

A lot of people with poor credit histories believe that they are never going to be able to get a payday loan. However, we recognise that your credit history does not always reflect your ability to make loan repayments.

We base our approvals on making sure the person taking out the loan is in a position to make the repayments so that they do not end up in further financial trouble and offer bad credit loans to those who are eligible.

We Are Regulated Payday Loan Lenders

You can have complete peace of mind when you take out payday loans with us because we are authorised and regulated by the Financial Conduct Authority. Our registration number is 736632. The FCA has very strict guidelines in place, which we fully adhere to.

Contact Us Today To Apply For A Payday Loan

No matter whether you would like to take out a payday loan or you have any questions about doing so, we will be more than happy to assist. You can make your application via our website. Or, if would like to ask any questions, simply send an email to info@loanpig.co.uk, and we will get back to you as soon as possible.