Frequently Asked Questions About Payday Loans
At Payday Pig ® we aim to give you the best service possible. If you have a question then our friendly staff will try to answer your questions within an hour or two. Please use our Contact Page to ask us a question or send us feedback. However we request that you first check our FAQ first as it contains the answers to most of the common questions we get asked:
- What is a payday loan?
- Is Payday Pig ® a lender or a broker?
- Does Payday Pig ® charge a fee?
- How long does the application process take?
- How much can I borrow?
- When will I receive my funds?
- Do I qualify for a payday loan?
- Do you accept applications from people with a poor credit history?
- What is APR and why is your's so BIG?
- What will a payday loan cost me?
- Can I roll-over my loan to the next month?
- What is a debt consolidation loan?
What is a payday loan?
Payday loans are short-term, unsecured loans. They were originally required to be paid back within 31 days, or at your next payday. However, nowadays the term payday loan is used more widely for small short-term loans. Amounts available range from £100 - £1,500 usually, with loan terms of 1-6 months.
Payday Pig ® have designed the whole application process to be convenient. The process can be completed online. You can get your money within hours of being approved.
Is Payday Pig ® a lender or a broker?
Does Payday Pig ® charge a fee?
How long does the application process take?
How much can I borrow?
When will I receive my funds?
What are the basic requirements for a payday loan?
Do you accept applications from people with a poor credit history?
What is APR and why is your's so BIG?
What will a payday loan cost me?
Can I roll-over my loan to the next month?
What is a debt consolidation loan?
Debt consolidation loan is where you take all of your outstanding debts and combine them into a single, more manageable loan. This can either be through secured borrowing against an asset, such as your home, or through further unsecured borrowing, such as a personal loan. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
Representative Example: Amount of credit: £500 for 12 months at £79.09 per month. Total amount repayable of £949.08. Interest: £449.08. Interest rate: 140% p.a. fixed*. 278% APR Representative. Rates between 9.9% APR and 1295% APR.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.