Category Text Loans UK

  • High cost short term credit HCSTC popularly known as payday loans are now well regulated in UK to protect short term unsecured borrowers. You should know your rights before go for this type of funding.

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  • Online payday loan application process has saved a lot of time and resources of the borrowers. Now you can apply and get loan even sitting in your home or workplace.

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  • After FCA regulation a cap for fees and interest is fixed so lender can not charge above this, also penalty amount is capped as £15 for loan defaults. Under any circumstances borrower have not to pay more than amount borrowed. These rules are very crucial in safeguarding customer’s interest.

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  • In past payday loans are defined as short term loans for maximum loan term up to number of days between loan application date to pay-date. Now payday loans are available in monthly installments also but because of higher interest rates these loans are costly affair. So term of payday loan as well as loan amount should be kept in minimal.

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  • payday loans, text loans, mobile or SMS loans are all short term loans now can be repaid in instalment also. Loan from direct lender will be always beneficial. The search for direct lenders can be done through various online portals without paying any thing. As these loans bear high interest rates so you should go for minimum loan which you can repay on time. Loan defaults can cost you more and also your credit report may be down graded so try to repay on time and if any difficulty then contact to your lender immediately.

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