Frequently Asked Questions About Payday Loans

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.

Payday Pig ® is a loan broker. In fact we are one of the UK's leading loan brokers. We have the top UK loan providers on our panel, and so the advantage of applying for a loan through Payday Pig ® is you only need to apply once. This saves you time and hassle.

Payday Pig ® does not charge you a fee for the service we provide and we never take money out of your bank account. And we do not work with any fee-charging brokers.

Our online application form is designed to be as straight forward as possible. We ask the minimum number of questions required in order to place your application with a loan provider. So completion of the form should only take minutes. Once you have pressed the submit button we then aim to match your application with our lender panel. This will take less than a minute or two. If you are provisionally accepted we will redirect you to the loan provider's website where you must complete the application process and agree to their terms and conditions. In some circumstances (e.g. if you have recently moved home or changed jobs) you could be asked to provide additional information.

You can borrow from £100 to £1,500^*.

Once approved, money could be sent in a matter of minutes. Loan costs and fund transfer times will vary depending on the lender and your bank's procedures. Some lenders may require further documents or to speak with you to verify details.

The basic requirements are to be a UK citizen resident in the UK, have a UK bank account and be at least 18 years of age.

We have dozens of loan providers on our lending panel and some specialise in providing loans to people with a poor credit history.

APR stands for Annual Percentage Rate. APR is a part of all types of credit loans, whether they are payday loans, credit cards, personal loans, mortgages or any other types of credit agreement. By law we must state a representative APR that illustrates how much it may cost to borrow money over the full term of a year. However payday loans are designed to be paid back within 31 days, not a full year. This is why the APR figure is so high. You can see representative costs on our Loan Costs page. You will usually be expected to pay this back on your next pay day.

Payday Pig ® does not charge you a fee for the service we provide and we never take money out of your bank account. You can see representative costs on our Loan Costs page. You will will usually be expected to pay this back on your next pay day.

If you know in advance that you will need the money for longer than a month or two then you really should consider a different form of credit. A payday loan is designed to be paid back within 31 days, or at your next pay date. Most of the lenders on our panel will consider letting you roll-over your loan to the next month to extend the term the loan. However you will almost certainly incur additional interest charges, and if you fail to agree this in advance you may also incur additional late payment fees.

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.