CashAdvance.com does NOT provide payday loans, nor is it an actual payday loan lender. Instead, CAshAdvance.com will use the information contained in your application to connect you with the payday loan lender right for you. The lenders all come from CashAdvance.com’s network of reliable lenders. Applying for a loan using CashAdvance.com is completely free. The exact terms of your loan, such as the rates and fees, are determined by your lender, not CashAdvance.com.
If this is your first time getting a payday loan online, and even if it isn’t, you may have important questions that you need answered. CashAdvance.com prides itself on having the most informed customers on the Internet. In order to ensure that claim, you will find some of the most common questions consumers ask on this page. If you do not see your question answered below, feel free to Contact Us. Please allow 48 hours to receive an email response.
For questions regarding the status of your loan application, loan payments, extensions, etc., please contact your specific lender directly. The contact information for your lender will be included with the loan application you receive from them.
1. What is a payday loan or cash advance?
2. Do I qualify for a payday loan or cash advance?
3. How much money can I borrow?
4. How will I receive the money?
5. Will bad credit or bankruptcy disqualify me from getting a loan?
6. How long will it take for me to receive the money I borrow?
7. Do I need a fax machine or printer to apply?
8. How much will my loan cost?
9. Can I get a payday loan if I have another payday loan outstanding?
10. How and when will I have to repay the loan?
11. What can I do if I am unable to repay my loan on time?
12. How do I know my private information will be secure?
13. How long do I have to wait before I can get another loan?
14. How do I get an extension or refinance my loan?
1. What is a payday loan or cash advance?^ Top
A payday loan is a short-term loan designed as a temporary solution for emergency financial situations. Amounts vary by lender, but UK payday loans generally range from £50 to £1,250 and are meant to be repaid within approximately 30 days of loan disbursal.
2. Do I qualify for a payday loan or cash advance?^ Top
In order to qualify for a UK payday loan, you need to:
- Be currently employed
- Be a resident of the UK
- Be at least 18 years old
- Earn at least £500 a month
- Have a bank account
3. How much money can I borrow?^ Top
Payday loans can range anywhere from £50 to £1,250. If it is your first time borrowing from a lender, the maximum amount may be less than for repeat customers.
4. How will I receive my money?^ Top
Your money will be deposited directly in the bank account you provide. This ensures that you are able to use your money as quickly as possible.
5. Will bad credit or bankruptcy disqualify me from getting a loan?^ Top
No, a credit score is not part of the application process, nor will bankruptcy automatically disqualify you.
6. How will it take for me to receive the money I borrow?^ Top
Since most lenders will use direct deposit to put the money into your bank account, you will receive your money as quickly as possible. This may be as soon as the next business day and, in some cases, only a matter of hours.
7. Do I need a fax machine or printer to apply?^ Top
In most cases, a fax machine is not required to receive a loan, though some lenders may require certain documentation to be faxed. A printer is also not necessary. It is advisable, though, to print your loan contract out to keep in your records.
8. How much will my loan cost?^ Top
Your loan will have a total cost of the amount you borrow, plus the accrued interest, finance fees, and any penalties, like late fees, that may be incurred during the repayment process. Since these rates and fees can vary depending on your lender, CashAdvance.com cannot give specific numbers.
9. Can I get a payday loan if I have another payday loan outstanding?^ Top
You cannot borrow from a lender again until you have paid off any outstanding loans from them. However, it is possible to take out multiple simultaneous loans by using more than one payday loan lender. This is a highly risk-filled strategy, though, it CashAdvance.com strongly advises against it.
10. How and when will I have to repay the loan?^ Top
The exact repayment terms will depend on dates set by you and your lender. Repayment options are usually about one month from the disbursal of the loan.
Loans can be repaid most frequently using direct debit. This allows your lender to take funds directly from your bank account on an agreed-upon date. Other options may be available and will be specified by your lender before you take out a loan.
11. What can I do if I am unable to repay my loan on time?^ Top
Your options will be detailed in the loan contract you have with your lender. It is also advisable to tell your lender about the situation as soon as you can. Many lenders allow you to extend the repayment period of your loan, though you may incur late repayment fees as a result.
12. How do I know my private information will be secure?^ Top
CashAdvance.com uses three different security services to ensure that all private information is protected. These services test the site regularly to make sure no unauthorized access is possible. You can see the results of these tests by clicking on the VeriSign, TRUSTe, or McAfee logos at the top of this page. You can also click on the Privacy Policy to see details about CashAdvance.com’s commitment to its users.
13. How long to I have to wait before I can get another loan?^ Top
UK law currently does not enforce any “rest” period between loans. However, payday loans should not be viewed as a resource to be used constantly, but as an emergency, infrequent financial solution.
14. How do I get an extension or refinance my loan?^ Top
You need only contact your lender. CashAdvance.com cannot offer either of these services since it is not an actual payday lender. You will be able to review the terms of refinancing and loan extensions by reviewing the loan contract you have with your lender.
