Payday Loans UK For Bad Credit - Your Questions Answered About Payday Loans For Those With Bad Credit
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If you require financial assistance for life's little emergencies yet you are struggling to get the help you need because of a bad credit score, a payday loan could be the perfect solution. Read on to discover the answers to some of the most frequently asked questions about payday loans UK for bad credit.
Will a payday loan lender carry out a credit check? This depends on the lender you choose but most will, however as the application process differs from lender to lender there are those that do not look into your credit history alone when making a decision, and the main thing they are concerned with is your ability to repay the loan. Are all applications for payday loans for bad credit guarenteed to be accepted, NO - definitely not. Lenders are required to make an assessment of creditworthiness and if that assessment is not passed they will not lend...that is the law. How long do I have to repay the loan? Again, this is based on the lender you choose. Although they are called 'payday loans' you don't actually have to make the repayment on your next payday. Some lenders give you up to six months or a year to repay the loan, which is why it is worth searching around until you find the best deal for you. Why do payday loans UK have a bad reputation? More often than not, people who leave negative comments about payday loans have taken out a loan and not been able to pay it on time, and thus they have incurred added costs. This is something you need to be aware of, which is why it is vital to ensure you can afford the loan, and this is something the lender will take into account throughout the application process. If you cannot afford the loan, you're only asking for more trouble.
Hopefully, you now have a better understanding of payday loans UK for bad credit. If this is something you require, head to https://trueblueloans.co.uk to find out more. Here at True Blue Loans, we allow you to make repayments over three, five or six months, and we don't charge any early repayment fees.