installment loans for people with bad credit
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Representative example: £400 borrowed for 30 days. Total amount repayable is Â£459.36. Interest charged is £59.36, interest rate 180.5% (variable). Representative 728.9% APR. We are a licensed credit broker, not a lender and as such earn commission on referrals.
These sorts of loans are likely to have higher interest rates attached to them simply because people with credit issues are judged as a higher risk (i.e. because of scoring methods used by lenders). Over time a person’s rating can improve as they repay loans and bills in full and on time. This means that they will be able to borrow at better rates in the future.
Short term loan companies have a bad reputation. Hardly a week goes by when one of them hasn’t made the newspapers for a bad business practice. There’s quite a few sharks out there that you really should avoid. Thankfully we work with a panel of responsible lenders. We put customer satisfaction above our profit margins because we want to be around for the long term. While we hope that you’ll only ever need to use us once, we want to make sure that you’ll choose us again because of the great service that we’ve provided.
Reputation: I considered each lender’s online reviews and status with the Better Business Bureau. BBB accreditation isn’t a necessity, especially for newer companies, but it is a plus. I also considered how long the company has been in business. I gave the least weight to individual reviews, as it’s common for prospective borrowers to give negative reviews for reasons such as being denied a loan.
Copyright 2017 Simple Payday. Simple Payday is a registered trading name of TdotUK Limited, which is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 688026. TdotUK Limited installment loans for people with bad credit is registered in England and Wales (Company number 09225672), with a registered office located at Platinum House, Suite 5, 23 Hinton Rd, Bournemouth BH1 2EF. Licensed by the Information Commissioner’s Office under registration number: ZA128431.