Customers with poor credit history are the most coveted targets of payday loan providers. Therefore, you do not need a credit check. Remember if you have a bad credit history, you will be charged a higher rate of interest.
The maximum amount a person can apply for a payday loan is 500 pounds. However, the amount you can avail depends on your monthly income.
You do not have to contact your employer because your pay slips make for adequate evidence.
As long as you can show a source of regular income, it does not matter whether you work full time or part time. You can avail a payday loan if you can show adequate income on monthly basis.
You may be asked why you need the loan as part of the application procedure by lenders, and there might be a few restrictions on the nature of their spending.
As long as you make a partial repayment, your repayment period can be extended by the fast payday loan provider. A small fee can also be charged. However, the rates of interest are high for these loans. Therefore, you should try to pay back on time.
In all probability, a debt collection agency will be called in by your lender to reclaim the money. The fast payday loan provider might also try to recover the money from you through other sources.
It is a very lightly regulated industry. However, for legal trading a payday loan lender has to be issued with a consumer credit license.
Though it is a difficult proposition due to a regulation lack, you may contact the Office of Fair Trading.
Yes, you can take the help of the Office of Fair Trading in order to do so. You can check if your provider has a consumer credit license.