Payday Loan FAQ

 

1. What is an Instant Payday Loan?

Instant payday loans are small and simple cash advances designed to give you access to your next payday a few weeks or days early. What makes payday loans different from all other conventional loan types is the way in which the cash sums on offer are small, the cash can be paid out in an instant and the vast majority of regular consumers can qualify with ease. What’s more, the application demands no credit checks, which in turn means that an imperfect financial past need never prevent an application from being accepted.  

2. How much money is available?

Loan amounts are available from £100 right up to £1000 and can be paid out within the hour. However, we may limit the amount you are able to borrow when you come to us for the very first time, usually to the £400 mark. Once the loan has been repaid in full and in accordance with the terms set out, we will then increase the amount you are able to borrow next time around.

We allow you to borrow from £100 to £1000 into your account on the same day. Occasionally new customers will be limited initially to borrowing £400; on the successful completion of your repayment, the maximum loan available will increase to £1000.

 

3. What are your charges?

We keep things as simple as possible and charge a flat rate of £25 for every £100 borrowed. We also promise to add no additional fees and charges at any time during the term of the loan – full details can be found on our dedicated Charges page.

 

4. Can I be accepted with a poor credit report?

Yes – we do not bring the credit rating system in to the equation and will not carry out credit check on any applicants.

 

5. How long does application take?

As we keep everything as simple as possible, we ask no more than a few minutes of your time to set the ball rolling. Our site is available 24 hours a day and seven days a week, where you will find all you need to arrange a payday loan in a matter of minutes

 

6. How is the payday loan repaid?

We arrange a single automatic transfer on your chosen repayment date.

 

7. What information is required?

The only details we need from you to process your application are:

  • Your name and UK addrees
  • At least two working telephone numbers and an email address
  • Your employment situation and income details
  • Bank account information to carry out the transfer

 

8. Is it possible to delay repayment?

Yes – but in all instances this will see further interest fees added to the balance for every month the loan remains unpaid. What’s more, we must always be contacted in plenty of time in order to arrange a deferral.

 

9. What are payday loans for?

Once the money is paid out, it is yours to do with as you wish. Whether it happens to be covering an emergency or taking an ‘emergency’ shopping trip, it’s your loan and your business alone!

 

10. Can I contact Hello Payday Loans for further help?

We pride ourselves on offering quite simply the very highest customer service standards you will find anywhere across the industry today. We offer a unique “live chat” facility which you can use any time to find the answers you are looking for from one of our dedicated staff members. You can also speak to us in person by telephone, between 8am and 8pm on weekdays.

 

11. Who can apply for payday loans?

Any person can apply for a payday loan with no obligation and at no cost, assuming they are over 18 years of age and in stable employment.

 

12. How is the money paid out?

The money is transferred directly into your bank account for you to withdraw or use as you see fit.

 

13. Can I take out two payday loans at once?

No – applicants are only allowed to take out one payday loan at a time, which must be fully concluded before another is taken out. This includes taking out payday loans from separate lenders – only one must be taken at any one time.

 

14. Can I take out a payday loan if renting a home?

Here at Hello Payday Loans, the only stipulation that comes into effect in a domestic capacity is that of whether or not you are a UK resident – whether you own or rent a home does not matter to us at all.

 

15. What if I encounter problems along the way?

We know and appreciate the fact that life can throw curveballs at any time – this is after all exactly why we got into business in the first place! As such, our doors are always open and we advise any and all borrowers facing the slightest difficulties to contact us as soon as possible to make sensible and workable arrangements. If choosing to take out payday cash advance from us, you must be 100% sure that you can keep to the terms and afford the repayment. Our loans represent financial commitments, therefore please be certain you fully understand your responsibilities, or contact out team for clarification at any time.

 

16. What should I do if my details change?

It is essential that you inform us of any changes in details at the very earliest opportunity.

 

17. When is the money due for repayment?

You can take the loan out over any period of time up to 31 days, though we always recommend that repayment be arranged for next payday.

 

 

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