60 QUESTIONS ANSWERED
LAST UPDATE 02.09.2018
FAQ Page - Payday Loans UK
It is unusual for us to contact your employer. However, occasionally we resort to this option to verify your employment, or for similar reasons, when there is no alternative option. Also, if a borrower fails to repay their short loan, and we cannot reach them on their provided contact details, we may have to contact their employer.
Q: How Much Money Can You Borrow From a Payday Lender?
Ultimately, the FCA hasn’t imposed any laws restricting how much someone can borrow. In the end, it boils down to how much your lender will let you apply for. Still, most lenders have their own limit on how much they lend out to people applying for payday loans UK. On most sites, you can borrow anywhere between £50 and £1000.
It does all depend on the lender, there are some that offer more than £1000. However, you’re probably never going to find a credible lender registered to the FCA that gives out more than £2500 for a payday UK loan.
With Payday Loans Net, you can get a loan of £200 – £2000, with same day funding. Always ensure that you are taking an amount that you really need, and not more. Payday loans have high interest rates, and the more you borrow, the more you will have to repay.
Q: How fast can I get a loan from PDNET?
This is the part where payday loans UK differ greatly from lots of other loans out there. While many other loans can take weeks for approval to come through, PDNET's loans are approved within minutes. Once approved, you’re shown the details of your loan in your contract; how much you’ve been allowed to borrow, the overall cost including interest, and the date that you have to pay the loan back by. If you’re happy with everything, you can go ahead and get yourself a payday loan with the money being deposited in your account the next working day.
Q: When do people use payday loans?
People who take out payday loans are usually struggling with a money shortfall when they apply and use our loans to cover urgent expenses that they are unable to pay for at a given time. Instead of opting for bad credit payday loans from direct lenders no credit check, they take the legal route instead. Most of our borrowers are single with no dependants.
Q: What is APR?
The APR (annual percentage rate) of a loan is the amount of interest that would be charged on the loan if it were taken out for a whole year. You can compare it to the nutritional value of food, which is worked out per 100g, regardless of how much it weighs.
While the APR sounds rather technical, it just gives borrowers an easy way to compare the interest rate of different payday loans uk direct lenders.
Q: How do lenders decide if I can afford a loan?
All lenders carry out an affordability check on all applications, to see if the borrower can afford to take online loans in their current circumstances. Lenders base the affordability assesment on the information on the application form and the information provided by the borrowers credit bereau.
Q: Who should I contact if I have problems with a payday loan company?
Ideally, you should try to settle the issue with the company itself as it is in their best interest that you have a satisfactory experience when you apply for a loan online with them. Explain clearly what the situation is, and why you feel that you’ve been treated wrongly. If you have tried that and are still not happy, you should contact the Financial Ombudsman Service. If they see that you were not treated correctly by a lender, they can order them to compensate you.
To make a complaint about a product or service from PDNET, please get in touch with us using one of the available options:
By phone: 0203 757 1933
- By letter: 2a Highfield Avenue, London, NW11 9ET
- By email: email@example.com
Be assured that we take any complaint very seriously and we will try and resolve your instant payday loans online
issues very quickly. Please visit our complaints procedure
for more information.
Q: Do payday loans UK with same day cash exist?
The quick answer is yes! The good news is, you are in the right place. Payday Loans Net offer UK payday loans on the same day. What we mean by same day is that you will receive your loan within 24 hours, if your loan application is approved. This is because we understand the urgency in your application and how you require the money as quickly as possible. We are a same day payday loans direct lender in the UK that cares about you and your financial situation.
Q: Is a wage day advance loan the same as a payday loan?
Yes. It simply uses a different terminology for pay day. So instead of calling it a payday loan, some call it a wagedayadvance. These loans are repayable by the borrowers next payday or over 6 months with Payday Loans Net.
Q: What are payday loans meant to be used for?
When you thought you’d make it to the end of the month, but have somehow run short, that’s usually when payday loans come in. Often this happens when unexpected costs crop up, for example:
• High utility bills
• Car broken down
• Broken appliances
• Medical expenses
• Overdraft payment
If you need a payday loan, apply now with a direct lender.
Q: Does PDNET offer weekend loans?
Yes we do! While most people are snoozing in on Sunday morning, our underwriters are hard at work to ensure that our borrowers can get weekend payday loans. Payday Loans Net provides direct lender loans in the UK. You can apply for a loan with us at any time at all to receive an instant decision, and if approved, the money will be funded within three hours during our opening hours. Our offices are open Sundays through Fridays, and we will be happy to help you cover the costs of your Saturday night bash with our payday loans.
Q: Can I get guaranteed payday loans in the UK?
Guaranteed loans with no credit check can be very useful if you have a low credit score. However, there is no way of guaranteeing a loan until the lender has performed a credit check. So while a lender can offer a high acceptance rate or bad credit loans, there is no real guarantee until checks have been performed. Apply today with PDNET for a close alternative to guaranteed payday loans from direct lenders.
Why choose Payday Loans Net?
We like to keep things simple. If you have any questions about the way we work, take a look
at the FAQs below, or contact us. Ready to go ahead? Apply now and get a decision within
- Direct lender
- Bad credit welcome
- FCA authorised
- No fee to apply
- Instant decision
- Same day payment
- Get up to £2000
Representative APR: 997%
Representative Example Loan Amount £500 | Borrow for 4 Months | Monthly Repayments of £215.81 | APR: 997% | Interest Rate PA (fixed) 270.10% Total repayment £863.24