As one of the oldest and most trusted payday loan companies in the UK, we pride ourselves on our commitment to promoting a message of responsible lending and borrowing. Outlined below are some of our guiding principles that we use to ensure that we give our customer the best service we can.
Paydayloan.co.uk is payday loan matching service that works with up to 120 payday lenders to help find you the best deal for your needs. We are committed to providing our customers with as much information as possible before taking out their loan in order to ensure that they (you) understand everything you need. Just like taking on any other financial commitment, we encourage our customers to weigh heavily on their decision to take out a payday loan before doing so, and to keep in mind that these cash advance loans are meant only as short-term solutions. Take a look at our Debt Advice page for some great tips on how to budget and save.
Here at Paydayloan.co.uk, we make every effort possible to check the validity of the companies that we work with and to only choose those payday loan lenders that are fully licensed and authorised to issue payday loans according to UK law. In the event that we pass you on to another lender we strongly advise you look closely at the lenders commitment to responsible lending policies. While we really do our best to vet all of our lending partners, we cannot be responsible for any of their individual policies or working practices.
We are constantly striving to do our best for our customers while complying with the rules and guidelines set forth by the Office of Fair Trading (OFT). We are committed to a higher level of customer service befitting a payday loans matching service that is one of the oldest and most respected in all of the UK.
The lender client commitment
You must be fully open and honest when filling out your application form. Our decision to match you with a lender or the chosen lender’s decision to provide you with a loan will be based on the fact that the information you entered into the application is true and right to the best of your knowledge.
You must make sure you understand exactly when and how much you need to repay for your payday loan. As a payday loans matching service, we will make this very clear so you fully understand all the charges. When you electronically sign the loan document this is a commitment from you that you fully understand.
You must be honest with us when filling out your application in regards to whether you will have enough disposable income at the time repayment is due. If you have any doubt whatsoever that you will be able to pay back the full loan amount with the required fees on the date both parties agree on, then do not even consider taking out a payday loan. We place a great deal of trust in you that you will be honest with us regarding this point and that you are requesting to take out a payday loan in a responsible way!
When you fill out our online payday loans application, we ask that you do not apply for a loan if you already have a pre-existing loan with another payday lender - however, there is no way for us to really verify this information, so we ask that if you currently have a loan with another lender, that you not take out a payday loan with us.
We will never intentionally match a client with a lender that we feel might be unable to pay back the full loan and fees when required of him or her.
While most payday loan lenders, offer the option of rolling over your loan and just paying the processing fee, we recommend that you try as much as possible to repay as much as you can on your original due date. You will incur additional charges if you decide to wait and roll over your payday loan.
Issues With Your Payday Loan or Payday Loan Lender?
As mentioned earlier, we will always do our best to match you with responsible and respectable payday loan lenders. However, should you encounter a problem with a lender that we matched you with, we will not be able to intervene in a mediatory role. We suggest that you try and deal with your lender directly and explain to them any problems that you might have, in order to try and reach a mutually beneficial resolution. Most lenders will provide you with a phone number where they can be reached and if not, you can always check on the contact page of their website.
If your chosen lender is still unwilling or unable to resolve the problem through regular channels of communication, you might want to consider turning to a professional agency or organization.