Direct Lenders – No Refusal Payday Loans in the UK
Are you being denied payday loans? We get it. Fill out the form and hit submit. Then wait. Decline. Sucks, doesn’t it? Is it possible to get a payday loan without being refused?
What caused my loan to be declined?
We’ve discussed here what Lenders are looking for here. But is it always clear when Lenders will decline loans to you?
Sometimes, the answer is not always obvious. Different risk models are used by lenders. The percentage of risk they are willing to accept when reviewing all application data.
It will be difficult to find a Lender willing to take on the risk if there are recent CCJ’s or bankruptcy. In fact, it would be irresponsible. Unfortunately, no refusal payday loans are not available in the UK.
Lenders may be willing to lend to customers with low credit scores, provided they can prove that the borrower is capable of repaying the loan.
This means that the Lender must have evidence that the applicant is trying to make amends for their low credit score. Not all is lost. Acceptance is possible despite having low credit scores.
Approved Payday loans in the UK
How do we convert a declined loan to a no-refusal payday loan? This is possible by proving that you are not a high-risk borrower. Improve your credit score by cleaning up your credit history.
Spreading the application to as many Lenders possible in one go, along with the above, could be a good idea. How can you do this?
It is easy to find a Direct lender who will act as a broker for you if your application is declined.
Both services are offered by The Quick Loan Shop. We will gladly fund your loan if your application and risk profile fits our accepted criteria.
If we decline your request, we will ask our Affiliate Lender Partners to review it. This is to determine if they would be willing to finance the loan. This often yields a positive outcome for our customers.
Beware of no refusal payday loans
Payday loan lenders that are not regulated can offer loans with no prequalification. They are not allowed to exist in the regulated market. This is because Lenders are required to act responsibly and with due care. Lenders can’t provide loans to people with low chances of repaying the loan.
The Financial Conduct Authority
Lenders in the United Kingdom are subject to strict supervision and rules set by The Financial Conduct Authority.
Lenders who violate these Rules risk losing their license. Lenders must be careful when reviewing loan applications. They will not issue loans to people who cannot repay them.
Advertisements for guaranteed no decline/no refusal loans are false and should not be believed
Get a loan from Regulated Lenders
Licenses are available. FCA licenses in the UK Look out for positive reviews.
For any concerns regarding a Lender, review the Financial Ombudsman’s Lender Complaint files.
Do not accept a cold caller’s offer of a loan.
Accept the Refusal
This is a difficult one. It will be tempting to look elsewhere. It only makes things worse. Credit files suffer even more from credit file declines.
It is best to improve your credit score.
Do not try to reduce the risk by manipulating your data. This doesn’t benefit you, and it doesn’t benefit the Lender. It creates a scene for a CCJ.
Be responsible
Lenders have a duty to you. They cannot lend money to someone who is a default-risk. You have the duty of care to not apply for loans you are not able to repay.
Payday loan lenders refuse to approve. Every day it happens.
Seeking financial help
If you are in dire financial circumstances, don’t apply for more debt. Instead, get advice from professionals such as Stepchange.org
It is dangerous to have serious debt. Expert advice is available for free and confidential.
There are many options available to you, including Debt Management Plans and Individual Involuntary Arrangements.
The Good News
Payday loans are available for those who can pay back. If used properly, this type of loan can provide a great source for income. If used correctly, an on-demand cash flow can be very useful.
Application
If you would like to apply for a quick-term loan, please go here 30 Day Loan