Archive for PayDay Loans

Quicksilver Payday Review – Is It A Good Payday Loan Company?

November 16, 2011 admin No comments

Quicksilver is a payday loan broker that helps you find a loan in the UK. They provide a simple application form on their website and you get a decision within minutes of applying. Unlike many other lenders and brokers, they have a callback service, so you can actually speak to someone before deciding to go ahead with the loan.

Quicksilver has partnered with the leading lenders in the UK like Payday Express, Wonga and Txt Loan. And you can receive between £80 and £1000 depending on your personal circumstances.

All they require is that you meet the following minimum requirements to be approved for a payday loan:

  • Be over 18 years old
  • Be in full or part-time employment
  • Earn at least £350 per month
  • Have a bank account with a debit card

Quicksilver has received many positive reviews and ratings for its service. And this is because they provide more than a payday loan service; they also assist you manage your money and help you find the right loan for your needs. So our rating for Quicksilver is 4 out of 5 stars and this is reflected in online customer reviews.

However, Quicksilver has a few drawbacks you should be aware of before signing up. And we’ve included below the pros and cons we’ve found in this loan company:

Pros

1. You can borrow up to £1000 through Quicksilver, and that’s £250 more than you’ll receive from many online payday loan companies.

2. If you are a part-time employed customer, they will find the right loan for you.

3. Most lenders require that you earn at least £750 to apply for a loan. Quicksilver only require you to earn at least £350 per month.

4. You can request a call back from their customer team who help you make the right decision before applying.

5. Your employer will not be contacted.

6. Bad credit won’t affect your loan application. The lenders will only look at your current financial performance to ensure that you have sufficient funds on your payday.

7. They don’t charge you for any of their services.

Cons

1. There can be delays of up to 48 hours before you receive your money depending on the lender who has approved.

2. The fee on your loan will depend on the lender and could be anything between £25 and £30 for every £100 you borrow. So you have little choice on the fee you’ll be charged if you apply through Quicksilver.

Summary

Overall, Quicksilver is a good loan company and we encourage you to apply through them. They have a very helpful website that includes an FAQ section and you get a quick preview of all the lenders they send your application to.

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Speed-e-loans Review – Is It A Good Payday Loan Lender?

October 16, 2011 admin No comments

Speed-e-loans is a new payday loan lender in the UK, and has been providing loans online since 2009. They specialise in short-term loans and lend up to £1000. For new customers they only provide £250 but this can be increased to £1000 after successfully paying off the first loan. Their fees are £30 for every £100 you borrow, which puts them in the middle of the market in terms of charges.

The Speed-e-loans application process is fast and simple and you complete it all online. It will only take a couple of minutes to complete the form and they will then text you a PIN number to enter and sign your electronic loan agreement.

They have minimum requirements and you have to meet them to be approved for a payday loan:

  • Be employed with a regular income
  • You must be 18 years old or older
  • Must have a valid bank account that your salary is paid into
  • Must have a valid debit card linked to your bank account
  • You don’t need to have a good credit record.

Speed-e-loans is a good and responsible lender. And they continue to develop their service to meet their customers’ needs. But Speed-e-loans lags behind other leading UK lenders like Quick Quid, Payday Express, Payday UK and Wonga. And we’ve rated it 3 out of 5 stars and many online reviews attest to this rating.

There are pros and cons associated with Speed-e-loans and we’ve included them here to help you make an informed decision.

Pros

1. You won’t have to fax any documents to them when you apply

2. They deposit funds in your bank account within two hours

3. They provide loans of up to £1000, and that’s more than what other leading UK payday loan lenders provide.

4. Speed-e-loans provide other services like prepaid cards that also appeal to their payday loan customers.

Cons

1. They carry out credit checks on all applicants and use it as part of the decision-making process

2. They charge £30 for every £100 you borrow, and this is higher than the £25 that leading lenders like Payday UK charge.

3. As a new customer you are unlikely to get anything near their £1000 maximum loan amount. You are more likely to be approved for no more than £250.

Summary

Overall, Speed-e-loans is one of the top payday loan lenders in the UK and we are sure you won’t be disappointed with their service. They have a very helpful customer team and you can contact them by e-mail or free phone. Their website is also helpful and is packed with information in the FAQ section.

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Payday Cash Advance – 5 Basic Things To Understand About Payday Cash Advances

October 16, 2011 admin No comments

A payday cash advance is a short-term loan that is designed to help working Americans cover expenses until their next payday. These types of loans should only be used when you have an immediate need for cash and cannot wait until your next payday.

1. Payday cash advance loans carry higher than average interest rates. This is mostly because lenders are willing to supply immediate cash and do minimal background checks so there is more risk on their part. Also, even though this is a short-term loan, the interest rates are annualized so they might seem extreme. In reality the fees are usually pretty reasonable ranging from $20-$60.

2. When you get a payday cash advance loan, you use your next check as collateral. The funds will be taken out of your paycheck on your next payday or whatever date was agreed upon. If you are unable to pay on that date most lenders will roll over the balance until the next payday.

3. You should only use a payday cash advance when you desperately need cash before your next payday. A good rule of thumb to use is that if the cost of not getting the loan exceeds the finance charge of the loan then it makes financial sense to get the advance. So things like late fees, bounced checks, over the limit fees on other debts all need to be considered. Many times the fees on these other debts well exceed the finance charge of the payday cash advance loan.

4. If you are in the military you will not be approved for this type of loan. The military has their own cash advance programs and is very strict on outside lenders.

5. Not all payday cash advance lenders will offer you the same rate. There are many lenders across every state and not all of them are equal. Unfortunately some lenders will try and take advantage of desperate consumers and charge above market rates. This is why it’s important to compare lenders online before accepting a loan.

These are 5 of the most important things to understand when considering getting a payday loan. Remember this is a short-term loan and should be tried to paid back as soon as possible. While lenders will be flexible with you in terms of the payback date, it is still important to pay it off as soon as possible to avoid additional fees.

Instead of waiting in line at your nearest cash advance location it is much easier to apply for a loan online. Using a matchmaker service such as CashAdvanceSelector.com is the most convenient way to obtain fast cash before your next payday. They are one of the biggest and most respected payday loan matchmakers in the industry. It is a completely free service and typically customers are able to get a better rate than going directly to a lender because multiple lenders are competing for the loan rights.

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