Representative APR 1272% (Variable)

Representative Example: Borrow £250 for 90 days. Total amount repayable is £411.63. Fixed interest rate of 292% per year.

Payday Loans Bad Credit Direct Lender No Brokers Fee

For short term loans like payday loans the loan affordability condition is of prime of all. Means irrespective of credit scores of the borrower if he has loan repaying capacity then the bad credit is OK. As name suggests, payday loans are based on person's monthly wedges only, so direct lender may ignore other factors, if borrower is pass in their loan affordability check, which is now a days mandatory for all lenders.

How to find direct lenders?

Ultimately loan is to be disbursed by direct lenders only. But there are two ways to reach a direct lender. First you can visit lender's office directly or you can contact him via phone, mail or through their online portals.

Second way to connect direct lenders is through brokers. You can visit brokers websites and they will pass your information to lenders directly.

Why direct lender route is beneficial?

Both of above ways to connect direct lenders are having its own pros and cons. Lets first take the case of self introduction to direct lender.

This is helpful in fast loan processing and instant loan decisions. This will save your time which is critical in financial emergencies. Also your direct connection with lender will by pass agents or brokers, so you can negotiate for loan terms with lender directly. In this way you will save the brokers charges, of course they are not directly burden on you as they are paid by lenders only. But lenders can share this saved money with you in fees reduction.

The only disadvantage of this method is to put a lot of efforts, time and resources in searching a good direct lender. You also have no option to compare and selection for the best one.

Indirect approach of lender search is through brokers. The brokers are the middleman working for the direct lenders. The promote lenders financial products and services via their online portals. They generate leads by attracting loan prospects by giving some false and impossible promises like "No credit check loans", "Instant approvals bad credit loans", "high acceptance loans direct lenders no credit checks" etc. As any loan seeker submit his details on broker's website they pass this info to a group of lenders for which he is associated. Now if any direct lender is interested in funding, the broker will pass the control to that lender and will get a commission for this lead.

The best part through broker is of saving of time and resources. As brokers websites are charge free for lender search and in getting loan quotes. So this service can be used in loan comparing with different lenders and select the best option free of cost.

The borrower has no option to negotiate with direct lender is the only disadvantage of brokers approach.

How to get rid from bad credit tag

Bad credit score is not a permanent tag, you can improve your credit score by putting little efforts by managing your finance and habits. For more details read How to improve bad credit score?.

we at Payday Loan Site are not a broker or a direct lender. We have no role in cash funding. Just we provide this online loan search platform to loan seekers and this is free of any charge. We do not charge any fees from our customers. If you decide to borrow with our associated lenders through us, we will get small commission from that direct lender.

Representative Example: Borrow £250 for 90 days. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Fixed interest rate of 292% per year. 1272% APR Representative.

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