RCAO Finance

Payday Bank is a broker and not a lender. They help you find a loan by sending your application to many UK payday loan lenders. And one of these lenders provides the loan that you need.

Payday Bank’s features and services are similar to many of the top lenders. And their requirements are similar too and they are:

• Be at least 18 years old
• Have a UK bank account with a debit card
• Be fully employed
• Be a UK citizen

However, as a broker they can’t guarantee how much you’ll receive; that will depend on the lender and will be between £80 and £750. But as a first time borrower, it’s unlikely that you’ll receive the maximum. It’s more likely that you’ll be approved for about £300. And you can then request an increase on subsequent applications if you’ve had a good borrowing record.

If you’ve recently been denied a loan application, you are well aware that you need to fix your credit. The first step is to request your reports. You can request a copy from each of the three major agencies once per year for free. These will not give you a FICO score, but will provide information about what is on your file.

Once you receive these you want to look it through and make sure the information is correct. If there is anything that is not accurate, you have the right to submit a dispute, along with supporting documentation, to the bureau, who will then forward the information to the financial institution for verification. If it is found to be inaccurate it will have to be deleted.

Buying a used car with bad credit is more difficult than buying one with good credit, but it is not impossible. There are dealerships that specialize in getting loans for people to buy a car, even though their credit score is less than desirable. With some planning and preparation there is a good chance that you can get yourself a set of wheels.

First thing you want to do is know where you stand with your credit score. Pull a copy of your credit report so that you know exactly what you can expect when buying a used car with bad credit. The lower your credit score, the more interest you will have to pay.

Check your credit report to see if there are inaccuracies. If there are, collect your proof and contact the credit bureaus to have them removed. This could help to increase your credit score.