Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.
Lenders always promise to be discreet about getting in touch with employers, but some borrowers understandably remain nervous about this. This guide covers the issue and lists lenders’ policies on this subject.
Discover lender policies on speaking to applicants’ employers.
It’s understandable that you wouldn’t want other people knowing your financial affairs, especially when you’re in difficulty. Payday lenders generally promise to be as discreet as possible when contacting an employer. Typically, the lender will call the main contact number to verify your employment.
If your employer has an HR department, the payday lender should be passed to this department. HR professionals are used to dealing with sensitive confidential issues like this, so you should be able to trust them to deal sensitively with any information revealed. If your employer doesn’t have a dedicated HR department, the call may be forwarded to the person who deals with your HR issues within the business.
Even if the full details of your loan were revealed, this shouldn’t have any impact on your career.
If your lender claims it may contact your employer, there is little you can do to stop it other than refuse to take out a loan in the first place.
If you’re that concerned about your employer finding out about your loan, choose a lender that says it won’t contact employers. You can find out a lender’s stance on this via its website or customer support team.
You might also consider borrowing money from an alternative source such as the following:
It’s understandable that you’re a bit edgy about payday lenders calling your employer, but if lenders keep their promises about respecting your privacy, there should be nothing to worry about. If you want to avoid this phone call, choose an alternative lender or alternative source of credit.
If you need to cash a cheque, it may take up to 3 days to clear it with a bank. Cheque cashing services give you immediate access to your money.
What’s the difference between a continuous payment authority, a direct debit and a standing order?
QuidMarket offers an instant decision on loans of up to (or for returning customers) and once approved, you can expect the money in your account on the same day. QuidMarket will consider you for a loan even if you have a bad credit history. Find out how other lenders compare.
If you need to borrow cash quickly and tend to use a prepaid card for regular spending, you may be looking to get a payday loan transferred to your prepaid card.
The Money Platform is a peer-to-peer (P2P) lending platform that matches investors with borrowers and provides loans of up to . But at it’s core, is it just another short term lender?
Anico Finance is an online lender providing personalised, transparent, short-term loans of – to help cover and spread the cost of an unexpected financial shortfall. Read the full review and compare its rates and eligibility criteria with a range of lenders.
Wageme is an online platform providing flexible and transparent short term loans of to for unforeseen financial shortfalls.
If you’re thinking about applying for a one month payday loan, use our guide to learn more about short term borrowing and compare rates from a range of UK lenders. Fast and simple repayment calculation and comparison of available amounts and eligibility requirements.
There are reputable payday loan lenders out there. But watch out for scams that prey on those who need quick cash.
A 1 week payday loan can give you the cash you need until your next paycheck. Learn how it works, what to watch out for, and compare lenders.