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Getting a bad credit payday loan in the UK

There are lots of companies that can provide a bad credit payday loan in the UK. Some like quickquid.co.uk are online and others like The Money Shop are found on the high street. Neither high street or internet companies take into account your credit status or asked for anything to secure the debt.

How it Works

Payday loans are short term loans that are paid back when you receive your next wage packet. They are normally for a small amount of money that is used to cover an emergency or to avoid a late payment charge. They are higher interest than credit cards and bank loans, but can make sense if you have no other option.

How it Works on the High Street

The Money Shop has stores in all major towns and cities across the UK. You can walk in and apply for a loan up to £500 which has to be repaid within 30 days or on your next pay day. All you need to bring with you is your bank card, bank statement and wage slip.

How it Works Online

Quickquid.co.uk is a good example of the sort of companies that trade online. They offer loans of up to £1500 and the money is normally available within an hour. All they ask is that you are over 18 years old and currently employed. You also have to be a resident of the UK and have a bank account that can accept direct debits. The process is completed online and you are only asked for basic information about yourself like your date of birth, your current address and your bank account details. There is no need to fax any documentation like payslips or bank statements and you don’t even have to remember to repay the loan as quickquid.co.uk takes the money back from your bank or debit card on the agreed date.

Final Word

If used sensibly, a payday loan can save you money by covering bank or credit card charges that would ultimately cost you more money.

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