When you are looking for payday loans no credit check then you may come across a great number of websites offering this, but every genuine lender will do some form of checking. This means that you will need to find a way of working out which will be the best one to use. Although price and cost is the way that most people compare and the most obvious, there are other factors to consider which many people do not think about. So once you have looked at:
You might want to look at some other factors and compare those as well. This is because it is all very well getting a good price, but you want to make sure that you are getting good value for money for your payday loans. Therefore there are other things that you should be considering as well.
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). Representative 305.9% APR. We are a broker not a lender. We don't charge fees. We don't sell your personal information.
Although we are all individuals and vary in our opinions about lots of things, it can be useful to find out what other people are saying about payday loans and lenders. If you know anyone that has had a payday loan, then it can be really useful to ask them about their experiences and see whether they can recommend a lender or tell you one to avoid. Many people are not happy talking about finances, particularly lending, to people they know and so it may be that you will need to look online instead.
A good place to start with this is a forum or message board about finance or lending that has a specific section on payday loans. Here you should be able to ask if anyone has used them and what their experiences were like. You may be able to find out by just reading older threads and messages.
It can be wise to look across a selection of sites as you will be less likely to get biased information that way. It is also important to check when the posts were made as they could be out of date. Companies change over time and you want to make sure that the information that you are getting is recent.
It is good to think about what you know about this lender. You may have read things about them in a newspaper, online or seen something on the news. Try to recollect what it was. It may be that you have seen their adverts on the television. If you just know their name because of adverts, it does not make them any better or worse than other lenders, it just means that they have more money to spend on advertising. It could therefore be good to spend some time actually looking at their website and finding out a bit more about the company as well as looking online.
All customers want to be treated well. This is especially true with lenders as some can have a really bad reputation. There are horror stories in the press a lot about people having trouble with debts and you will not want it to be you next time. Therefore it is a good idea to find out how the lenders that you are considering treat their customers. One way to do this is to contact them and ask them a few questions. You may have questions with regards to the terms of the loan anyway so it can be wise to ask them and see whether you like the way that they respond.
It is worth asking yourself whether you trust them as a company. When you put together all of the information that you have about them, do you think that you want to deal with them? Consider whether their website, customer service, adverts and things people say about them all add up and make you feel that you are happy using them.
It may take a bit more effort and time, but you can really benefit if you look into a lender in more detail and find out more about them. If anything does go wrong, you will at least know that you did your best to find the right lender for you.