If you have previously had a pay day loan you will understand how difficult they are to get away from once you have started with one. The repayment usually comes out of your next wage packet and if you have over spent, a payday loan will not sort personal debt problems.
In fact, payday loans can add to a personal debt problem if they are taken as a resort to pay credit companies and unexpected interest or charges on other accounts you may have.
To apply or qualify for a payday loan, in most cases you must be (but not limited to)
- Be over 18 years old
- Be employed full time
- Take home more than £750 per month
- Have a bank account with a valid debit card
You can usually borrow from £80-£750 depending on your circumstances
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