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Pay Weekly Loans On Benefits
- You can now get personal, logbook, payday and guarantor loans online and make weekly repayments.
- All interest rates and fees are fully disclosed when you apply and bad credit is even accepted.
- Have cash in your account on the same day, in an hour or less in most cases.
When you’re in an emergency situation, there’s not much time to look for a handful of requirements, approach a lending institution, and process your loan application. This is why most people choose to borrow money from their friends and families. While it’s ideal, it’s not always the best option especially if you’ve borrowed from them earlier or you need a larger amount; this is the time when loans are beneficial.
Whether you’re the type of person who doesn’t want to bother anyone or you’re just too embarrassed to borrow money, you might find payday loans as a solution. This type of loan is short-term and issued in small amounts. However, the entire loan application process is fast and easy, making the money available in the soonest time possible. Most lenders provide cash on the same day of application and are transferred to the borrower’s bank account. Because of its swift and convenient action, a payday loan is a popular choice for people whose salary is still weeks away.
If you’re looking for a quick financial assistance or you just want to know more the benefits that a payday loan offers, then this article will help you.
Benefits Of Payday Loans
- A payday loan is helpful because almost everyone is qualified. It only needs a few requirements, such as the proof of income and a working bank account. The income can come from employment or benefits, therefore, those who are recipients of welfare can apply. There are weekly loans on benefits available to ensure that they can meet their financial needs on time.
- Compared to banks and traditional lending facilities, payday loan providers process the entire loan application in a snap. Basically, the lenders will just require a completely filled up loan application form and a few requirements. After everything’s been verified, you can get the money you need in a matter of hours. This only shows how payday loans are beneficial during emergency situations.
- The short-term loan is flexible in terms of repayment. Basically, the loan is settled within two weeks or on the next payday, however, the lender may extend the loan if you’re not ready to pay.
- Unlike what most people say, a payday loan keeps you away from the cycle of debt. Payday lenders are upfront with their fees, thus, eliminating hidden charges. This means that the borrower is informed of the exact amount that he needs to settle on the loan’s due date.
- The application can be done online; unlike the conventional lenders, payday loan providers work outside the regular working hours. There are even lender available 24/7, ensuring that you can have the money you need. Since the application can be accomplished online, there’s no need to bring the documents outside of your home and endure traffic. All you need is an Internet connection, a device, and a mobile phone for contact.
- Another advantage is that it is discreet. If you don’t want anyone to know about your monetary struggles, then you can rely on this type of loan. Payday loans offer a quick financial solution so you don’t need to force yourself to borrow from other people.
Pay Weekly Loan FAQs
Can I get a weekly loan if I am on benefits?
Yes! If you are unemployed because of a disability or other health condition, rest assured that you will still be able to apply for a loan through us. We will assess your current financial situation and provide you with options that are best suited for you.
How long will I have to repay my loan?
This will depend on the amount you decide to borrow and the type of loan you apply for. For example, payday loans can usually be repaid within two weeks to one month, whereas personal or guarantor loans can normally be repaid over a longer period of time.
Will I get my cash on the same day I apply?
Yes! We Understand that virtually everyone needs to obtain cash in a hurry from time to time so they can cover unexpected expenses such as an outstanding bill or emergency home repair. As a result, we ensure that your application is processed as quickly as possible. In most cases, you should have the cash you need in your account within an hour. However, this can sometimes vary depending on the company that has approved your application.
How does the application process work?
We have kept our application process as simple as possible. All you need to do is complete our website form and provide all of the required information on it. We will pass your information through to our lenders and those that are able to provide you with the funds you require will set up a contract for you to sign online. It’s as easy as that! There is no physical paperwork to fill in and you don’t have to visit us to obtain your funds.
Will I be penalised if I repay weekly loans on benefits late?
Unfortunately, you will be required to pay additional interest if you repay your loan later than the initially agreed upon date. As a result, we strongly recommend that all repayments be made on or before their due dates.
How do you determine the amount of money that I will be able to borrow?
Our application process makes use of a system called Auto Decisioning. This enables us to input all of the information your provide into our system and have it determine the amount of money that you will be able to comfortably repay on a loan.
Representative example: £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)