Warning: Late repayment can cause you serious money problems. For help go to moneyadviceservice.org.uk
Warning: Late repayment can cause serious money problems, for help or advice please go to moneyadviceservice.org.uk
Minimum Loan Length is 3 months. Max Loan Length is 12 months. Representative example: Borrow £850 Over 11 Months. Monthly Repayment £146.30. Total Amount Repayable Of £1,609.25. Interest: £759.25. Interest Rate: 150% Pa (Fixed). 277.6% APR Representative. We are a credit broker not a Lender.
If you are a single parent, you can easily get a payday loan to take care of unexpected medical emergencies, look after various unforeseen needs around your house or simply manage expenses till your next payday.
Single parents care borrow small sums of cash from payday lenders. This sum can start from as low as £100 and can go up to £2,000. As this is a payday loan, you are required to pay it back giving you 3 to 12 months for repayment.
Once you submit an application, it is processed and reviewed by suitable lenders within minutes. You will get to know about whether your application was accepted or rejected within half an hour from submitting.
Accepted applications are further processed quickly, and money is credited to your bank account at once, typically within minutes.
Yes, you can.
Many payday lenders accept payday loan applications from single mothers and fathers even if they have bad credit, provided that they are regularly employed. Here’s all you will be needing to get a payday loan:
A valid proof of identity and address.
A valid UK bank account.
A payday loan can affect your credit score in a positive as well as negative way.
Every payday loan application that involves a credit check will be recorded on your application. This can help shape your credit score and assessment of your credit history by future creditors or lenders.
If you pay a payday loan on schedule, it can boost your credit score and may favourably impact your credit history.
If you regularly default on your payday loans or keep rescheduling them, it may adversely impact your credit score and credit history.
You can, if you have some assured and regular source of monthly income (benefits, grants, rent, credit from investments, pension, aid etc.).
That said, it must be mentioned that payday lenders are known to favour applications from regularly employed applicants. So, your chances of getting a payday loan improve immensely if you are employed.
There are no special provisions for single mothers who are looking for payday loans. However, there are quite a few payday lenders out there who specialize in lending to single mothers, and you will be able to get a better deal if you choose to get a payday loan from such lenders.
Payday loans are not further classified into medical or educational loans, and hence, there are no special interest rates applicable.
Payday loans are inherently more expensive than other credit/loan options – but they are also incredibly easy to get. We have provided on our home page a special slider calculator that you can use to get a broad idea about how much you will be required to pay back.
Payday loans are just as safe as any traditional loan. The only thing you need to keep in mind is that payday loans are NOT meant to provide for you over long terms. Hence, by using such loans only when you are left with no alternatives and by paying them back on schedule, you can ensure that you do not incur heavy interest/additional fees on your loan.