Cash Advance Loans in the UK
First of all, what exactly is a cash advance loan?
Well, they are just like a payday loan or any other form of short-term borrowing. The general principle is the same; they are designed to give a borrower some breathing space until their next pay date. Cash advance loans are generally taken out as a very short-term arrangement. The borrower, for whatever reason, has found themselves in financial difficulty and may have several weeks until they get paid. Before considering a cash advance loan, there are two important questions a potential borrower must ask themselves:
1. Are you currently facing an emergency?
Most of us have been here; we've got two weeks until payday and our car decides to breakdown. Or it's the middle of winter, and our boiler gives up on us right before a big freeze. These are considered emergencies; after all, we can't drive to work and earn money without our car. And we also can't be expected to exist without warm water and a heated home in winter. It's scenarios like these when cash advance loans could be valuable to us.
2. Can you repay the loan comfortably on your next payday?
We all generally budget every month and allocate our finances to our bills, shopping expenses and wherever else our money needs to go. But many of us don't budget for emergencies. Life can surprise us, and when it does, we can find ourselves short of the funds we need. As we said above, in an emergency, a payday loan or a cash advance loan may be necessary, but it's important to budget for this next month when the loan needs to be paid back. If this is something that you know you'll be able to do, then a cash advance loan could be an option.
How can we help?
BadCreditSite is a broker whose aim is to help customers investigate the possibility of obtaining a cash advance loan. Of course, we can never guarantee that a customer's application will be successful, that largely depends on the circumstances and that individual customer's financial history. But we can search our panel of lenders using our loan matching software to try and match you up with a lender that could help.
Some of the lenders we work with are more lenient than traditional lenders, and many of them do tailor their products to appeal to those whose credit ratings may not be perfect. While we cannot promise to find you a lender who will be able to help, by completing an application form on the website, we will search our panel of lenders to see if there are options available to you.
How to apply for cash advance loans with us
To apply, you will need to be an adult residing in the UK with a job and proof of income. Getting a quote from us is free and will not affect your credit rating. You're also under no obligation whatsoever to proceed with a quote should you be accepted by the lender. We understand that you may just be investigating the possibility of a cash advance loan. However, if you do finalise your application with a lender, you will likely be credit checked before final approval.
Here's how our application process works:
The website utilises loan matching software which features a panel of several lenders all with varying criteria. Customers will be able to input their information online via an application form, and be returned with a set of lenders results to compare. If a customer would like to proceed and apply for the loan they have been quoted, they will then be forwarded to the website of the lender to finalise their application. At this point the lender will usually complete a credit check on the customer. This is when the lender will provide the customer with a final decision.