Payday lenders have been a good method to obtain loans till payday as a way to tide you over when you find that you are short of cash that month. They are a way to obtain fast cash loans when you need to get the money quickly and without hassle.
This type of lending does not require you to be credit checked. This means that if you have a poor credit rating or a low credit score that usually prevents you from getting credit means that you can now borrow the money that you need. Whilst these are no credit check loans you will however need to meet some criteria. You will need to be a UK resident with a current UK bank account. Some lenders require you to have a debit card associated with your account as this is the method they use for you to repay the loan. Other lenders will accept a post dated cheque or you can set up a direct debit to repay the money when it is due.
Most lenders will only consider your application if you are employed and getting at least £750 being paid into your account monthly. Other circumstances can be considered by your lender such as self employment but this will be at their discretion.
It's easy to apply online at any time even if it is 3am in the morning. The application will take no more than 10 minutes to complete and you will get an instant email confirmation of your loan. Payday lenders are able to provide an almost instant decision on a loan.
Sometimes however you may require to borrow the money over a longer period. Depending on your lender it may be possible to get 3 month loans as an extension to give you longer to repay the money that you gave borrowed. A 3 month loan allows you to better budget if your finances are tight and you find you will be left short after having to repay your loan the following month.