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Daniel

Daniel is a loans expert based in London and has been working in the payday loans industry since 2010.

What is a Continuous Payment Authority?

What exactly are continuous payment transactions, otherwise known as a continuous payment authority (CPA)? Payday Bad Credit provides you with an overview of everything you need to know about continuous payment authorities (also known as recurrent payments), what they mean and what you can do if you have a CPA. What is a continuous payment authority? A CPA is when you have given a business permission to take money out on a weekly or monthly basis from your debit or credit card, whenever they believe that they are owed money by you. The sorts of businesses who use recurrent payment transactions […]

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What Happens When You Go Bankrupt?

What exactly happens when you go bankrupt? Here is our guide explaining exactly what bankruptcy is, whether it may be the right option for you, and how you can go about applying for bankruptcy. What is bankruptcy? If you are seriously struggling to pay back existing debts you have and are getting very behind on mortgage or credit card repayments, or a payday loan, a way in which you can solve this debt problem is applying for bankruptcy. However, it is not only you who can apply for bankruptcy. Creditors (the people who you owe money to) can also apply […]

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What Is A Credit Search Footprint?

What is a credit search footprint? When it comes to applying through mortgages brokers, direct payday lenders, or a credit or store card, we are all fairly familiar with terms such as whether or not we have a good or bad credit score, and what a credit check. But when it comes to a credit search footprint? Many of us are not so keenly aware of what exactly this entails or means. In fact, it is actually very closely connected with credit scores and credit checks. Here we provide an overview as to what a credit search footprint actually is, the […]

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How Does A Credit Check Work?

If you are applying for a mortgage, payday loan, credit card or any other type of loan, it is pretty much a given that a credit check will be carried out on you. So what exactly is a credit check, how does it work and why is it so important? What is a credit check? Lenders will often conduct a credit check, looking at your personal financial information in order to determine if you are a suitable applicant or not for a loan. They are able to see whether you have any existing debts on your file, whether you have […]

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What Is Debt Management?

Getting into debt is something all of us have a deep-rooted fear of. Unfortunately for many, the fear is inherently real, and therefore they have to consider debt management.  According to statistics from 2016 by The Money Charity, over £1.562 trillion was owned by people in the UK by the end of October. Clearly, debt management is on the minds of many people across the country. In case you weren’t completely convinced, here are some further statistics on just how endemic debt is in the UK The age category most over-indebted is those aged between 25-34 according to a study […]

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How To Improve Your Credit Score

Knowing your credit score is incredibly important if you want to keep your finances in check. It is even more vital to know what your credit score is if you are looking to apply for credit, such as making an application for a credit card or applying for a mortgage. However, once you know your score on your credit file, it may not be what you anticipated or hoped for. This can have a detrimental effect on any applications you making for lending money: a bad credit rating can mean you are refused credit by lenders. Nevertheless, hope is not entirely […]

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What is Debt Consolidation?

Debt consolidation is when you have more than one debt to pay off, so you decide to combine your debts to pay them off together rather than repaying them separately. In order to do this, most people will decide to take out a debt consolidation loan. With a debt consolidation loan, you get a single, larger loan used to pay off all of the smaller loans you have taken out after combining them, thereby avoiding paying multiple interest rates on multiple products. Debt consolidation loans are great for people who have borrowed from various sources and are looking to get […]

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What is the Difference Between Secured and Unsecured Loans?

A secured loan involves borrowing an amount of money and ‘securing’ it against a valuable asset such your home or your car. An unsecured loan is not secured against anything, but interest rates are often a bit higher because of the lack of security and you are usually not able to borrow as much as you could with a secured loan. There is a risk of your asset being repossessed if the loan is not repaid on time. With large amounts typically borrowed, the lender has some security that they will be able to recover the amount they lend out. […]

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What is Underwriting?

Underwriting is the process by which lenders decide if a person is eligible for a loans product. Eligibility is measured in a number of ways, essentially in order to decipher if a person is a low-risk customer and are trustworthy enough to make repayments each month. A loan provider will make their approval or decline decision based on the profile of that applicant. Factors that are looked at include: your age, your occupation, your credit history, where you live, and your income. Naturally, analysing your credit history is important for a lender to determine how much risk they take on. […]

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7 Ways To Improve Your Credit Rating

A credit score must be protected and nurtured to enable you to get the best possible loan deals and save yourself money. If yours is not where you would like it, then consider applying our 7 tips to improve your credit rating. In this article about 7 ways to improve your credit rating we shall examine: Why a credit rating matters Managing your credit cards Rectifying mistakes Breaking ties with ex-partners Keeping up with repayments Why do I need to worry about my credit rating? Your credit rating is the most important measure that lenders have to judge your creditworthiness […]

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