Welcome to PDLAUK.com - The Fastest Payday Loans in Town
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Quick & Easy Payday Loans
Here at PDLA we like to make things as clear and as simple as possible and also provide a top notch service for our clients.
Our aim is to get you the finance that you require as fast as possible and with the minimum of fuss. Listed below is a host of information regarding borrowing money, but fundamentally all you need to know is that you will typically be charged £29.95 for every £100 that you borrow - so if you borrow £100 you will have to pay back £129.95. That's it - no hidden set up charges or hidden fees.
Simply click the Apply Now button below and complete the simple application - it only takes a couple of minutes.
Some payday lenders may restrict the amount you can borrow to a maximum of £500 the first time that you take out a loan with them, so please be aware that you may not be offered the amount that you have applied for.
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Payday loans are intended as a short term loan to help deal with an unforeseen situation and should be repaid in full when you next get paid. Failing to repay the loan in full when it is due is likely to cause you further financial problems and means you will incur further charges. For this reason it is important that you only borrow what you can afford to repay. To qualify you will need to be UK resident aged 18 or over and employed.
Because we deal with a huge panel of lenders it is difficult to define totally accurate requirements. However, there are basic requirements that are common to most.
- You must be a UK resident aged 18 or older!
Law requires that loan applicants must be at least 18 and some of our lenders require you to be older. They all require you to be a UK resident.
- Are you employed and earning at least £500 per month?
Some lenders require you to be in full-time employment, there are also lenders that are happy to accept applications if you are employed part-time. They will all insist that you earn enough to be able to afford the loan.
- You will need a UK bank account with a valid debit card!
When you are approved for your loan the lender will transfer the money into your account, and payment is automatically debited from your debit card when it is due.
- You will need a valid email address!
You should be careful when you submit your email address the lenders will use this to communicate with you and may need you to verify it.
- You will need a mobile telephone!
This again may be used by some lenders to verify your identity and you should double check the number you have entered before submitting the application form.
- Do you know your employers telephone number and have a phone at home?
The lenders prefer you to have a home phone as this can also be used to verify your personal details. Your employers telephone number is also required. However, the lender will not contact your employer.
Our lenders do:
- Offer short term loans focused to the borrowing needs of their applicants
- Assess that applicants can afford a loan, and will be able to repay them
- Provide clear, transparent customer contracts and communications
- Treat customers in a helpful, polite manner and deliver excellent standards of service
- Maintain above average levels of customer satisfaction
Our lenders do not:
- Target people with debt issues
- Lend to people who they believe are unable to repay
- Deal with customers if their personal details are unable to be verified
It is important to us that our lenders are responsible when making their lending decisions. However, it is also important that the borrower is equally as responsible by:
- Not borrowing for non-essential, frivolous reasons.
Payday loans are designed to help you deal with an emergency situation not to pay for a night out on the town. As such, you should only borrow what you need and not what you want!
- Only borrowing what you can afford to repay.
It is your responsibility to only borrow what you can afford to repay on your next pay day. Rolling the loan over for an extra month will double the interest charged.
- Being honest in your application.
It is your responsibility to ensure that the information you enter on the application form is accurate and truthful.
- Do not apply if you do not meet the minimum criteria listed below.
If you do not meet the basic requirements you should not apply for a loan.
If you find that you are regularly experiencing debt issues we strongly advise that you seek help and advice by visiting the Citizens Advice Bureau website, or visiting your local CAB office. Another option would be to visit The Insolvency Service website or download their booklet In Debt which will inform you of your options.
Payday loans carry a fixed flat rate fee - it is as simple as that. There are no hidden charges but some of our lenders charge a fee for administration. The cost of credit is generally around 29.95% for a 30 day loan so if you borrow £100 you will repay £129.95. You can borrow from £50 to £1,000, however some of our lenders will restrict the amount you can borrow to a maximum of £500 the first time that you take out a loan with them. As such even if your application is approved by a lender you may not actually qualify for the amount that you have applied for.
Please note that we deal with multiple lenders, whose interest charges and administration costs may vary. If your application is approved by one of our lenders, the actual costs will be presented to you when you are redirected to the lender's website to complete the application process.
|You Borrow||Total Amount Repayable|
The table above and the example below are for illustration purposes only, because the actual costs and charges will vary from lender to lender.
Once your application is accepted by a lender you will be redirected to their website to complete the application. The actual costs and also any charges (if applicable) will be illustrated to you. Make sure you are fully aware of exactly how much your loan will cost you before you agree to it!
Based on a total loan of £750 for a period of 28 days at a fixed rate of £29.95 per £100 borrowed (which is a fixed annual interest rate of 359.40%), the total amount payable in one lump sum payment on your next pay day would be £974.63 and the representative APR would be 2950% APR. At first glance the APR for payday loans might look quite high. It must, however, be noted that an APR, or Annual Percentage Rate, is the interest accrued in a year. As most payday loans run for a period of 31 days, this can be quite confusing and misleading. As mentioned before, the actual interest is 29.95%. An APR is a useful way to compare loans that are alike, but it is not quite so useful when comparing products that are not.
The following table illustrates this:-
|Type of loan||Amount||No. Of Repayments||Total Cost||APR||Actual Interest Charged|
As you can see from this table the APR for the two instalment loans is the same. However, you will notice that the interest repaid as a percentage of the loan is significantly different. The payday loan costs less even with the higher APR
Our lenders realise that some of their customers will be unable to repay the loan in full when it is due, despite their best efforts to ensure the loans that they offer are affordable. If you realise that you will not be able to repay the loan when it is due, the lender may well allow you to roll the loan over. However, before they do the will need to make sure that doing so will not make your financial situation worse. Some lenders may also charge you a fee if you do not repay the loan when it is due, and charge you extra interest as well.
This will need to be discussed with your lender as soon as you realise that you will not be able to repay the loan. Assuming that they agree to roll your loan over, they will ask you to repay the interest that is owed. The original amount that you borrowed will then be 'rolled over' into a new loan. This loan will also incur interest at the same rate as your original loan, making the loan twice as expensive to borrow. You will need to repay the loan in full on your following pay date. Any requests to change the terms of the loan in any way, must normally be received at least three working days before the loan is due.
You should try make sure that you fully repay your payday loans when they are due to avoid any extra fees and or interest charges.
Never borrow more money than you can afford to repay. Short term payday loans should only be used for short term financial needs and are not suited to longer term borrowing or if you are struggling financially.
Non payment of your loan when it is due is likely to result in extra fees and extra interest charges, and may well be reported to the Credit Reference Agencies which may have a negative impact on your credit standing. (this will vary from lender to lender). The lender may also add any costs that they may incur as a result of trying to enforce the loan e.g. County Court Judgments, debt collection agencies etc.
If you find that you are unable to repay the loan you should contact the lender immediately to discuss your payment options.
- TOTAL COMPLIANCE.
Inter Financial Limited is licensed under the consumer credit act and is proud to take its responsibility as a consumer credit licence holder very seriously.
- FULL DISCLOSURE.
We do our utmost to ensure that we comply with the guidelines set out by the Information Commissioner's Office.
- WE WILL BE TRANSPARENT
We do not make any false or misleading claims on our website, or any of our advertising. We will clearly define the costs and implications of taking out a payday loan, and make it clear the we are a broker and not a lender and do not make any lending decisions.
- ENCOURAGE RESPONSIBLE BORROWING
We will make it clear on our website and any other marketing that it is the responsibility of the borrower to ensure that they do not borrow money that they do not need and cannot afford to repay
- USE LENDERS WITH APPROPRIATE COLLECTION PRACTICES
We aim to work with lenders that adopt a policy of collecting overdue accounts in a fair and lawful manner. They should not use intimidation or harassment as a means of collecting accounts. Nor should they threaten criminal action as a result of you account not being paid.
* Check with your bank to see if they will accept Faster Payments; some banks can take as long as 3 working days to clear the funds. Applications must be received by 1530 and completed by 1700 for your money to be transferred today!