Payday Loan Companies: Find Out How To Spot A Good Lender
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Payday loan companies are well known for being able to get loans out to their borrowers fast. However, the speed at which they go is not always indicative of their quality. If you find yourself in financial difficulty after the loan, you may find that they're just as fast in chasing you up - irrespective of your financial and personal circumstances. So, when it comes to dealing with payday loans UK companies, you can get a good indication of their quality by examining certain aspects of their business: namely, their policies for dealing with people.
Finding The Good Payday Loan Companies
Good payday loan companies will not treat you as a commodity to make profit off of; a good lender will treat you with dignity and respect. Their policies will no doubt reflect this attitude. For example, it is said that one in four of us, at any time, are suffering from mental health problems. That means that there are a number of people applying who are dealing with temporary, or more permanent, mental health or mental capacity problems. Ethical payday loan companies will treat those with such problems fairly and will always act in their best interests. This isn't just a moral requirement; but a legal requirement too. If you are suffering from such a condition, even if it is temporary low mood, then you should not feel judged. A lender will not immediately reject your application based on this; in fact, they will do everything they can to understand your condition and work with you to come to the best conclusion. Some payday loans direct lender companies will even have staff that have experience in such cases like, for example, a dedicated account manager. They will also have policies clearly available on their website to support their commitment towards meeting the Financial Conduct Authority's (FCA) regulations on this matter. It is often said that you judge a society on how it treats its most vulnerable; the same can be said of any business too.
What All Payday Loan Companies Should Strive To Do
All payday loan companies should stick to the FCA's regulations. Not just because they've been told to do so, but because they agree with the protection of borrowers' rights. Nothing is truer when it comes to checking a potential borrower's credit. While many people would like to avoid having their creditworthiness checked, due to it being poor, the reality is that this is part of new regulation. Any UK payday loan companies that say otherwise are not being truthful. This is to stop lenders from loaning money out to people who cannot afford to pay it back. However, a good lender will also understand that many of those who apply for short term loans don't have perfect credit histories. They will look for evidence that suggests that the recent credit history is good as opposed to how it looked two years ago. At True Blue Loans, that's exactly what we do. We, like any lender, will take your credit history into account. But if you're now in full-time employment, can afford the loan and hav shown recent good credit history, there's a very good chance that your older credit history won't be a major factor. We all make mistakes and we should all be able to move on. So, while we may not be as fast as the '10 minute lenders', we will make sure that you are right customer for us and that we are the right lender for you. We have no interest in getting anyone into debt.
Looking For Responsible Payday Loan Companies? True Blue Loans Fits The Bill
If you've had enough of unsympathetic payday loan companies, then it's time to switch to lenders who care about your circumstances. At True Blue Loans, we offer short term instalment loans of £100 to £300 over three, five or six months. Want to pay back sooner? You can. We won't charge you any extra fees, like other payday loans UK companies, because we believe in being responsible lenders. Want to apply? Visit https://trueblueloans.co.uk to apply today. Got more questions? Contact us via Skype 01284 724651 or send an email to [email protected] for more information.