Payday loans vary in repayment term and interest quite dramatically, some payday loan companies charge interest over 1,000 percent, some even over 2,000 percent!

If you are considering a payday loan we would recommend using a lender with a more reasonable APR, and flexible repayment periods.  Payday loans applied for through my-payday.co.uk have an APR of just 200%, the lowest in the UK and can be repaid as quickly or as slowly as desired.  if you cannot repay the loan within a month it isn’t a problem, just repay the interest!

For more information please visit: payday loans.

Are there alternatives to a guarantor loan?

This all depends on your financial situation, taking out a guarantor loan from a company like FLM Loans may be your only real option other than taking a much lower amount for a much higher APR.

It should also be remembered that FLM charge interest daily, so you could borrow money for a shorter term that originally planned and not suffer in additional cost, this is great if your financial situation changes and you want to clear your guarantor loan in favour of a high street loan.

Repaying a guarantor loan is the responsibility of the applicant but is backed up by the guarantor.  Each month the lender will try to take the repayment from the applicant and only failing that will they seek to recover the funds from the guarantor.

If the applicant always makes their payments the guarantor should not need to be bothered at all by the lender.

What do you do if you have bad credit and cannot get a loan, but need to obtain finance.  There are companies out there who claim to be able to find you a loan but instead charge you and then simply recommend the same old lenders you know can’t help you.

Guarantor loans might be the answer, a guarantor loan is a normal loan, in your name, but with the backup of a guarantor.  This is a friend or family member who is willing to back you, to say “yes, he’ll pay the loan back, you can trust him.”

For more information on gurantor loans, and to apply, please visit: www.guarantor-loan.co.uk