Even if you have bad credit you may still be eligible for a payday loan. Payday loans no credit check are an expensive way to borrow money so it is worth looking around for other loans for people with bad credit. If you are concerned that your poor credit rating will block you from getting a loan then search for payday loans co credit check. The best payday loans should have a low representative APR, around 500%. However it is common for Payday loans to have representative APRs of over 2000% so make sure that you shop around. It is really important to read the terms and conditions of any payday loan which you may seek to get. Payday loans are serious financial products and must be taken seriously.
Payday loans are generally short term loans of sums of money under £1000. The interest rates on payday loans are high because payday lenders unlike normal lenders will lend to people with bad credit. There are often expensive penalty fees and charges if you don’t make your loan repayments on time so it is important to make sure that you can pay this sort of loan back. Some payday loan companies allow loans to roll over into other months but don’t do this or the interest will keep building up.