What are Payday Loans?
Payday loans are essentially a small and unsecured loan which allows you to borrow money to be repaid, ideally, when you get paid next. The great thing about payday loans are that they are designed to be quick and easy to access and help in the event of an emergency to cover an unexpected expense.
Sometimes despite our best efforts, we may find ourselves in need of a little extra cash to help tide us over until our next payday. While trying to save and manage our finances is something we all strive for, occasionally emergencies do crop up and can leave us worrying about how we are going to cover the unexpected expense- this is where LoanPig comes in. We pride ourselves in providing a high quality payday loans or emergency loans that will ensure you are not left in the red.
Are Payday Loans Unsecured?
The beauty of payday loans is that they are unsecured in comparison to other loans which typically are. Unsecured loans are popular in the fact that they do not require you to place collateral on your loan, which means that should you miss a repayment or fall behind on payments, you will not be put in a position where you could lose your home or car.
How Do Payday Loans Differ To Other Loan Types?
The biggest difference between payday loans and other loan types such as mortgages, consolidation loans, a short term loan and bank loans is that they are relatively lower in value and offer a shorter repayment period. LoanPig, as a payday lender, offers great payday loans as they allow you to borrow up to £1500.
How Do I Apply For a Payday Loan With LoanPig?
Applying for payday loans with LoanPig couldn’t be easier. Firstly use our online calculator to select your desired loan amount and the number of months you would prefer to pay the loan off in and we will show you your estimated loan repayment amount. Once you are satisfied with this, you can then continue on to complete the full application with some basic details before we sent through our case loan decisions engine, then, if LoanPig cannot offer you a loan directly we send your details off to match you with a reputable lender from our lending panel. Upon being accepted you will simply have to complete the process and sign some remaining documents before receiving your cash (terms and conditions apply)Can I Apply For A Payday Loan Online?
What Can I Use A Payday Loan for?
Once you have secured one of our payday loans, you can use your cash for a number of different causes and purposes. Here are just some of the ways you could spend your cash advance payment:
• Managing your rent and bill payments
• To help tide you over when dealing with an illness or redundancy
• To avoid having to deal with costly bank overdraft charges
• Assist in consolidating debts and reducing monthly repayments on the whole
A payday loan from payday lender LoanPig, could transform your life and help you to not only manage your money better but also help to get you out of some tricky financial situations.
How Is LoanPig Different To Other Payday Loan Lenders?
Responsible lending is one of our priorities at LoanPig, we are dedicated to helping customers find the best possible payday loan and strives to stand out amongst other payday loans lenders like QuickQuid and Peachy. We adopt the traditional credit checks and look out for those customers in financial difficulty or who are having money problems. Our transparent trading and reputable service means we are considered to be one of the best payday loans lenders out there because we welcome those with all types of credit backgrounds whether you have good or bad credit.
Will LoanPig Consider Someone With A Poor Credit History?
If you have ever been rejected when applying for a loan in the past based on your credit score you will know how helpless it can make you feel. Here at LoanPig we believe that an individual is more than just their credit rating and while a poor credit score may mean that you found it harder to manage your repayments in the past, this should not influence your future payday loans applications.
Are Payday Loan Lenders Regulated?
While in the past payday loans companies received a bad reputation as a result of being unregulated, today that is no longer an issue. The FCA (Financial Conduct Authority) have in recent years put in place some strict guidelines and laws in place which means that those looking to apply for a payday loan now can do so safe in the knowledge that they have some protection from irresponsible lending practices.
LoanPig, is authorised and regulated by the Financial Conduct Authority (registration number : 736632).
What Is The Payday Loan Application Process Like?
Here at LoanPig we believe that applying for a payday loan should be straightforward and simple. We look at your personal information and apply an affordability applicant verification process when we offer loans. Our passion is making sure that those in need are always able to receive payday loan help from us here, so we ask that you reach the following requirements in our criteria for us to help you to transform your financial situation:
• Be a UK resident
• Be at least 18 years of age
• Have an active bank account and bank card
• Be in a state of permanent employment or receiving a pensions or form of living or disability allowance
Once we have evidence of the information mentioned above, we will see that you are well on your way to receiving your desired cash amount!
When Will I Receive My Payday Loan Money?
The speed with which you can receive the cash you need is one of the biggest draws of payday loans and is what makes them so popular. At LoanPig, we support faster payments funds, so if you make your application on a weekday before 3pm, you could receive the money you need the very same day. If you apply after 3pm on a weekday or on a weekend you would only have to wait until the next working day. Our same day loans are the perfect way for you to get the help you need, as soon as you need it.
What Is The APR Rate For A Payday Loan With Loan Pig?
LoanPig has a representative APR rate of approx. 1261%. The interest Rate can differ depending on the total repayment and the company you choose to take out a payday loan with us. Being selective and searching for the best APR rate when searching for a payday loan is a best practice solution as it could mean you save money on repayments in the long run.
Warning: Late repayment can cause you serious money problems. For help, go to Money Advice Service