Warning: Late repayment can cause you serious money problems. For help, go to MoneyAdviceService.org.uk

How Much Cash Do You Want?

Borrowing £18,000
Interest £700
Total To Repay £18,700

Immediate Cash Assistance

What We Provide
Is your credit line not good enough to qualify for a loan from the bank? Do you need cash assistance without complicated paperwork and fast? Great news! We have options that would greatly work for you!
  • Online decision
  • Responsible lenders
  • Apply to borrow up to £3000*
  • Rates From 278% APR – 1576% APR*
  • 3-12 month repayment

What Are Unsecured Loans?

This type of loan is granted based on the borrower's creditworthiness. An unsecured loan requires no asset to pledge as a collateral. Generally, borrowers with high credit score are eligible to apply to a certain unsecured loan. However, there are plenty of unsecured loans that allows borrowers with poor credit to be eligible. One of which is a payday loan.

How Do The Application Work?

Convenient and Secured

The application process goes online. It is easy and simple. All you need to do is to provide your information on an online form. Complete the form and send it back. No worries, your information is processed through a secure channel to ensure that your data is not compromised.

Lightning Fast

You don’t have to wait hours to be approved for the loan. In just a matter of minutes, you can get the results of your application and get the funds you need. No more waiting long lines or beating traffic. Just sit back, relax, and see the funds go straight to your back. No fuss, no hassle.

No Credit Checks

There’s no need for you to worry about your credit line. As long as you’re good on paying back what you owe, our lenders can’t say no. Our trusted and responsible lenders do not do credit checks. Just make sure to pay on time to prevent any additional charges and fees.

So your loan application has been approved and you have enough cash to cover emergency expenses, fund your dream getaway, or purchase yourself a new car but it’s time to repay the loan. Just when you thought you’re ready to settle the debt, you had another emergency and you can’t repay the loan on time. Can you ask for a loan extension?

Extending The Loan

When you can’t make the loan on time, the best thing to do is to talk to your lender and ask for a loan extension. Most lenders will allow this; however, it comes with a cost. Loan extensions, or rollover as they call it, are given to most borrowers as long as they agree to pay for additional charges or an increased interest rate.

Although this can make the loan more expensive, it can help you avoid a bad credit score due to late payments.

How Loan Extension Works?

Almost all types of loan allow loan extension or loan modification; however, it’s more typical on secured loans. This gives the borrower a chance to adjust the term of the debt, thus giving them more time to repay the loan and reduce the amount they pay on a monthly basis.

Pros Of Loan Extension

Lower Repayments

If you are having a hard time repaying your monthly obligations and you decided to extend it up to 20 years, you can lower your monthly payments, thus making it easier to settle the debt.

Avoid Bad Credit

So you’re having difficulty paying the loan and you think you’re left with no options other than skip the repayment. Instead of doing this and damaging your credit, you can ask the lender to extend the loan instead, giving you more time to repay your advance.

Cons Of Loan Extension

Higher Interest Rate

The longer the repayment term, the higher the interest rate. While you may not notice it because of the lower monthly repayment, the overall amount that you are actually paying is more expensive compared to a loan with a shorter term.

Longer Financial Obligation

Obviously, extending your loan term means you’re agreeing to settle your debt for a longer time. While it may not be a problem, you’ll have the peace of mind you need if you know you’re debt free.

So your personal loan application has been granted and you have enough funds to support whatever it is that you want -- fund your dream vacation, pay medical bills, or consolidate debts.

Now it’s time to give the loan back but life’s been hard and suddenly, you find it harder to pay your loan on time. What are you going to do? Can you skip a loan payment?

The answer is yes. But of course, it comes with consequences.

What Happens When You Miss A Loan Payment?

While it’s possible to skip on a loan payment, you will be considered delinquent and your credit score may be affected. This doesn’t mean that you will find it difficult to get a loan in the future or your credit history will be destroyed; however, your credit rating will decrease.

Also, if you fail to settle the loan on its due date, your lender has the right to charge you with a late fee, and the amount you will pay vary based on your bank or lending facility. If you’re planning to skip a loan payment, be sure to avoid it in the future since you will be charged per missed payment, and the fees could add up quickly.

When you only skipped a payment once, you might only get a gentle reminder from your lender; however, if it happened twice or more, your account will be transferred to a collection agency and chances are, you will be bombarded with calls from bill collectors. Not only will you feel harassed but also, your credit rating will drastically decrease, causing damage to your credit history.

Risks of Missed Payments

In some cases, if you fail to respond to any calls from your lenders or billing collectors, your lender could file a lawsuit against you. Worse, they can repossess the collateral in case you applied for a secured loan.

Eventually, skipped repayments result in loan default, and this will stay on your credit report for up to seven years. Having a default on your credit history will make it almost impossible for you to secure an advance in the future.