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.

Nobody really wants to be in debt. So, it is hardly a surprise when a person’s first instinct when he takes out credit is to try to pay it off as soon as possible. While it is always a good thing to pay a debt off and stop the interest, it may not always the most practical choice. If your goal is to build a credit history and at the same time, increase your credit score, it is more advisable to stick to the loan’s terms. But you have to see to it that the payments are made on time, all the time. 

Reasons for closing a loan early

There are a number of reasons that compel borrowers to want to close their loans as soon as they can. On top of the list would be the potential savings that they can earn from no longer having to pay interest rates. This is especially true for debts with longer terms which involve more interest costs. There is also the peace of mind that being debt-free brings. It is nice to know that moving forward, you won’t have to worry about monthly loan repayments anymore. 

Reasons for keeping accounts active

When it comes to your credit rating, accounts that are active and pen are going to be of better use to you than closed ones. They will be more useful for making you look good to lenders. This will help lenders see that you’re very capable of managing your debts and finances well. But you do have to make a conscious effort of paying the debt off on time. Otherwise, your credit score is going to take a serious hit. Besides an early loan repayment can also entail additional fees and costs. Most lenders charge early resettlement fees and this can be about two months worth of the interest you’re being charged. If you want to look good to future lenders, keep your loan open and pay it on time. 

Had a loan application recently? Are you one of those people who can really afford a loan and applied for it just to cover up some expenses? Or maybe you’ve got some extra cash recently and you think that it will be good to pay off your loan early. But, there are pros and cons about settling your debts early. Let’s see how it works.

Repaying Your Loan Early

Paying off your debt may save you a lot of money because paying your loan in its terms and interests will cost you more. The longer you pay for your loan, then the longer you’ll pay your interest and it is quite stressful isn’t it? Lenders usually have common standards and policies for their loans and it would be better to ask them about pre-payment because some lenders charge penalties for this and some may not.

Here are the pros that you could get for paying off your loan early.

Clear mind – It is important to have a clear mind and reduce stress. Settling your debts early would make you sleep comfortably at night and also you don’t have to think of it always on how you’re going to repay them especially the terms you’ll spend in order to settle it. So paying it off early could bring you a peace of mind.

Chances to get approved your loan will get higher – If the lenders will see how you repay your debts then certainly they will approve your loan faster and might offer you the best rates. This will also improve your debt-to-income ratio.

Save more money – You’ll be able to save more cash because the money you will use for repayment on a monthly basis could be available for your other expenses or can save it up on your savings account for your future.

The only cons for repaying off your loans early is the penalty you will pay if your lender has required it if you will choose prepayment to settle your loan. So before you get a loan, try to evaluate and compare the deals that lenders offer. It will be useful for you in the future if you will study how your loan works.