Guaranteed Payday Loans for Bad Credit - An Affordable Help Online Direct Lenders - A Preferred Choice In The UK: Direct lending is counted among the fastest developed industry in the UK. More and more employed people in need of some quick cash turn to online direct lenders instead of mainstream banks and regular financial agencies. The time taking complex process and strict eligibility norms are found the top reasons that turn the employees and professionals towards direct lenders offering guaranteed payday loans for bad credit. Guaranteed Payday Loans For Bad Credit In High Demand: The private lending has become growth engine of the UK economy. The UK payday loan industry was valued around £220 million in 2017. The bad credit guaranteed payday loans in the UK are the short-term debts up to £500 that are to be repaid in short period or until the forthcoming "payday". These are available even for the employees with poor credit ranking. The credibility for repayment is judged by the job nature and monthly salary. A report by ‘Citizens Advice’ states that there were 760,000 payday loan borrowers in 2017. Guaranteed Payday Regulated By FCA:
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The average payday loan amount was £260. The average payday loan duration is 20- 22 days. If the borrower does not repay the loan on time, default charge is capped at £15. The price cap on the instant decision payday loan is 0.8% per day. The direct lenders can't charge higher than £24 / £100 borrowed; it ensures that the borrower will never repay the double of borrowed money. All the lenders are needed to undergo through investigation to get ‘authorization’. Guaranteed Payday Loans for Bad Credit are Really Good: For the bad credit borrowers in regular job or having the regular earning, guaranteed payday loans are like a boon to manage the emergency expenses without disturbing the other payment schedules. These short-term guaranteed loan help to maintain and improve the credit score. Because of being short-term loans, these are granted at comparative lower interest rate. These are often sanctioned within 30 minutes just after successful application and the funds are posted to accounts by the next working day. The leading direct lenders in the UK like ‘Loan for Tenant’ offer excellent online support to eliminate the role of broker. Source URL: https://ello.co/loanfortenant/post/a6cgkw_twnwiqns0bpv3cg