| If you are searching for a suitable payday loan, | | | | website homepage. If a lender does this, it shows |
| you need to do your research and make sure | | | | that it is being open and clear about how much |
| that you go only with reputable lenders with good | | | | you will be paying back on your loan so you know |
| history, reliability and good security. The reality is | | | | the details before you apply. |
| that the same day loans industry is virtually | | | | I would also look for strong customer testimonials |
| unregulated and hence there are many websites | | | | and any independent market research that shows |
| out there who charge unnecessarily high interest | | | | what level of customer satisfaction the company |
| rates and in worst cases, may steal your identity. | | | | provides. I would also do a search on the internet |
| So here are some tips to help you find the right | | | | to see if there are any bad complaints about the |
| lender and deal for you. | | | | lender you wish to get a loan with as if there are |
| First of all, make sure that the lender can be | | | | dissatisfied customers, their voices will be heard |
| contacted by phone, lists its consumer credit | | | | on the internet. |
| licence number, runs as a limited company and | | | | Generally avoid lenders who list no phone number |
| provides its company number and address details. | | | | on their website, do not clearly list their charges |
| See if the lender is a member of any financial | | | | and interest rates, do not list their consumer |
| bodies. There aren't actually any regulated | | | | credit license number somewhere on their |
| industry bodies covering the payday loan and | | | | website, and do not list their address details. If |
| same day loans sector in the UK but there are | | | | you come across a website like this, click off that |
| voluntary payday loan bodies such as the British | | | | page immediately! |
| Cheque Cashers Association (BCCA) and the | | | | It can be daunting trying to find a responsible |
| Consumer Finance Association (CFA) which | | | | lender as there are so many companies offering |
| promotes responsible lending. I would generally be | | | | payday and same day loans especially on the |
| wary of any company or website that isn't a | | | | internet. But if you follow my points above, you |
| member of a voluntary regulatory body. | | | | will find a responsible lender and the right deal for |
| Make sure that the lender clearly marks out the | | | | you. |
| interest rate that it applies to its loans on its | | | | |