Easy Lending - your fastest payday loans lender
Payday loans from 100 to 1000 pounds

Paying Back Payday Loans

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The method of repayment of a payday loan will have been discussed when the initial repayment was made. Cash advance repayment is an easy process and simply involves taking the borrowed amount plus interest back to the lender when a pay cheque has been received. If a post-dated cheque was left as a deposit, this is returned to the borrower.

In the case where the cheque deposit has been designated as payment, this will be deposited into the lender account on the due date, with the borrower ensuring that there are sufficient funds in their account to cover it.

Repayment of online loans differ slightly, in that the lender will have been authorised to issue an electronic funds transfer on the due date, automatically withdrawing money from the borrowers account.

Whilst some lenders require the full loan issued to be repaid immediately, others offer different options. There may be the option to repay the borrowed amount and roll the loan fees into a separate loan. Another option is to pay the loan fees and a proportion of the loan, rolling the rest into a new loan. A third option is to repay loan fees and roll the rest into another loan. These options are carefully monitored to ensure the loan process isn't prolonged indefinitely creating a debt mountain of interest and fees.

Early repayment should be possible with most companies and it is worth discussing the possibility during the application process. The borrower should ensure there is no early settlement fee which may result in him or her incurring additional expenses.

Paying off one of these short-term loans within the time specified will ensure a good credit history with this type of lender and make accessing similar loans in the future a simple procedure.

Our Advantages

1. Quick Payday Loan
    100% Online!

2. Minimal Requirements
    No Credit Check
    No hidden Fees
    No Faxing!

3. Fast Cash Advanced
    up to £1000

What Is A Payday Loan?

The thought of taking out a short-term high interest loan can fill many people with fear and dread. Misconceived images of loan sharks banging at the door demanding money, can put most people off the thought of loaning money from anywhere but the local bank. Horror stories of inflated interest rates and re-mortgaging homes to settle debts leave people refusing to contemplate the idea of taking out a payday loan. And yet these interim loans, when provided by a reputable company, are both a useful stopgap and completely legal.

So what exactly is a payday loan? In simple terms, it is a short-term cash advance, for those awkward times when there is too much month left and not enough money. Poor budgeting skills or unexpected bills can leave people short of cash for essentials and unable to fulfil their financial obligations. Payday loan companies can front the money that their client will receive in their next pay cheque. Once the pay cheque comes in, the amount borrowed is repaid plus interest and any relevant fees.

There are no restrictions on what the loan is to be used for as personal financial circumstances are regarded as the loan applicants own business. The only criteria for loan acceptance are the ability to pay back the amount borrowed.