Payday Loan UK

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Frequently Asked Questions

What is a payday loan?
A payday loan is a short-term loan that can be used to cover unexpected expenses, shortfalls in funding, or to top up your monthly income where necessary. Payday loans are meant to be paid in full on your next pay date. They are not meant to be used as a long-term solution.

What is the service offered?
AskPounds.co.uk saves you the hassle of filling out multiple payday loan applications by matching you with one of the leading UK payday lenders we have agreements with. You will fill out just one brief application, and based on the information you provide us, we'll attempt to match you with the lender most appropriate to your needs.

Is AskPounds.co.uk a payday lender?
No. AskPounds.co.uk is not a lending or banking institution, and does not broker loans to lending institutions. We provide a service which saves you time and hassle by searching a payday lender who best suits your needs.

What is required in order to be matched with a payday lender?
The payday loan companies we work with require that you meet just a few, minimum requirements before granting you a loan.

• You must have a bank account that accepts direct debit
• You must earn at least £750 every month
• You must be at least 18 years old
• You must be employed and receive a regular paycheque or salary
• You must live in the UK

You will be asked for this information on our brief application form. We will transfer this information over to the lender you are matched with.

How long does the application process take?
Our application is quick and should take no more than a few minutes. We request only the information that payday lenders required to approve your loan. Simply complete our application form now and you will receive a response from one of our payday lenders within a few minutes.
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Would bad credit history affect my chances of being approved by a lender?
Bad credit history will have little impact on your loan approval. As long as we can verify that you meet the minimum requirements, the lender you are matched with, if approved, will give you a loan in faith that it will be repaid on your next payday.

If I complete the application form do I have to take the loan offered?
No. You are under no obligation to take the loan offered by any payday lender. If do not wish to proceed, simply notify the lender that you wish to cancel your request.

What form of payment is used to repay the payday loan?
Usually, the payday loan provider will take your payment directly from your bank account. Depending on the lender, this is generally done by direct debit.

Is it possible to roll the loan over until the payday after?
This is at the discretion of the payday lender you are matched with. Payday loans are intended to be repaid in full, on your next payday, to ensure you do not incur further financial obligations. If the lender allows rollovers, there will likely be an extra cost to you, determined under the circumstances of your loan.

Who can I contact if I have questions or concerns?
Once you complete the AskPounds.co.uk application and are matched with a lender, they will provide you with their contact details as well as further information regarding their loan terms.
If you have questions regarding payday loans in general, or are having difficulty completing your AskPounds.co.uk application, click here to find the ways in which you can contact us.