1. The first most frequently asked question with payday loans is that how you can qualify to apply for payday loans. The answer to this is actually based on which lender you are applying. Though more often than not, they all require you to be of the right or legal age, meaning you need to be at least 18 years old and above, you have a permanent job where you are earning more than a certain amount that is net per month, usually they require more than £417, and then you also need to have a valid debit card. And most especially, you need to be a resident in UK.
2. Now if you are a foreigner, or was not born and raised in the UK you might want to ask if you can borrow money from payday loans. The answer to this is yes, as long as you have the basic requirements needed that is all mentioned in the first number of this post. For the qualification where you need to be a resident in UK, that actually applies to all permanent residents in UK and as well as the ones who also have permanent jobs in UK.
3. Another question you might want to ask is do you need to have a home for you to be qualified for payday loans? The answer to this is definitely not. Remember that payday loans are meant for short period of time borrowing of money, therefore there is actually no need for collateral or something for you to borrow money from them, and that is actually the good thing if you will borrow money for your emergency monetary needs, unlike other types of loans that you can apply.
4. Then with this payday lenders broker, you might be asking like how many days you will be able to get your money if you will apply through them and also if granted, you might also want to know if there will be additional fees for the process or do they get kickbacks or something once your loan is granted. The answer to your first question is that most of the time you will get your money the same day that you have applied or once it is granted. And then to your second question, there is actually no additional fee for them to find you a lender to lend you money for emergency or any other reason why you need to have quick cash.
5. And then the most common question that you might be asking is what will happen to you if in the event that for any unfortunate reason you would not be able to pay them on time. Then the answer is lies to your lender actually, if you are fortunate enough then they might be able to extend the days that you can pay, and if even luckier, then they might offer you a smaller amount just to settle your debt from them. This is actually the reason why you need to know the conditions of the lender maybe even before applying for payday loans.
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