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

When are personal loans a good idea?

When are personal loans a good idea?

Personal loans are one of the most sought loans on the market for a number of reasons. They are lent out to people who can prove to the lender that they are very capable of repaying the loans. People who have bad credit often cannot get a personal loan without a struggle. In the majority of cases, lenders will require an applicant to have a salary or at least some form of stable income. The lender will also, like with any other type of loan, check your credit history. If yours is not in the best shape and you do […]

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How to make your Christmas budget go further

How to make your Christmas budget go further

Christmas is but a month away and you have likely already got a budget in place and/or have started making purchases for food and gifts. The last thing you want to see in January is a credit card bill which is going to knock you back due to the amount you have unknowingly spent, so it is best to have a budget in mind or even a separate savings account specially for Christmas. If you have already got a budget in place, great! But how can it go further? If you have not yet got a budget, do not worry […]

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Making the Most of Black Friday Deals

Making the Most of Black Friday Deals

Black Friday is looming and many of the deals have already started kicking off, the temptation to start buying things you didn’t even think you needed is very strong indeed. For many of us, Black Friday and Cyber Monday are both great opportunities to get all of our Christmas gifts sorted for our loved ones at a discounted rate. Meanwhile, other people will be buying that pair of shoes that they do not need just because there is 25% off them, but would never have bought them at full price. At Payday Bad Credit, we want you to be able […]

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What interest free loans are available?

What interest free loans are available?

Interest free loans may seem impossible. As you may probably be aware, the interest which is placed on a loan is how the lender will make their profit. However, there are actually interest free loans on the market and a new scheme which has recently been announced by Chancellor of the Exchequer Phillip Hammond, designed to get people out of debt. The interest free deals which circulate the market can help people get their finances back under control by reducing the amount of interest that you are paying on your debts to 0%. We are going to look at four […]

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Avoid using loans for Christmas

Avoid using loans for Christmas

There is no doubt that Christmas is an expensive time and it can very be tempting to overspend. In fact, statistics have shown that in the Christmas of 2017 that almost six in ten households made significant financial sacrifices in order to pay for Christmas gifts for their friends and family. It is not uncommon for people to overspend on their credit cards and not be able to pay back the full amount of the loan for months on end, for people to delay their obligations such as their utility bills or insurance payments and also many people choose to […]

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The Archbishop of Canterbury ‘Competes’ with Lenders

The Archbishop of Canterbury ‘Competes’ with Lenders

The news broke five years ago in 2013 that the Archbishop of Canterbury Justin Welby has vowed to go to war with payday lenders, especially Wonga which has now gone into administration. But now, just over 90 per cent of Anglican churches have publically disagreed with the Archbishop of Canterbury’s plan to compete with the payday lending industry. In 2013, the Archbishop of Canterbury warned the head of Wonga: “We’re trying to compete you out of existence”. He then went onto explain that the CofE would use its 16,000 churches to provide consumer-friendly credit unions with a foothold in each […]

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Budget 2018: Zero-interest Loans

Budget 2018: Zero-interest Loans

On Monday the 29th of October, the Chancellor of the Exchequer Phillip Hammond released the budget. He explained his intentions for the budget in the House of Commons at 3:30pm, which was also live streamed on the BBC and other channels. One thing that stuck out for those in the lending industry or people who regularly seek the services of payday loans for bad credit, was the introduction of a scheme which features zero-interest loans. This scheme is to be introduced to help people overcome debt and is set to help out about 3million people across the UK who have […]

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What is Universal Credit?

What is Universal Credit?

Universal Credit is a payment which is designed to help people with their general living costs. Universal Credit is relatively new and has been introduced to replace six benefits offered by the government in one package rather than many. The following are benefits Universal Credit has replaced: Child Tax Credit Housing Benefit Income Support Income-based Jobseeker’s Allowance (JSA) Income-related Employment and Support Allowance (ESA) Working Tax Credit If you currently receive any of those benefits, you cannot claim Universal Credit at the same time as those. However, since Universal Credit is being introduced in stages, you do not have to […]

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Who is eligible for Universal Credit?

You may have heard about the introduction of Universal Credit by the UK government. Many people are expressed their state of confusion surrounding what it is and what the introduction of Universal Credit hopes to achieve. Essentially, Universal Credit is a payment which aims to help people with their general living costs. It is paid into your account monthly if in England and Wales and twice a month for some people in Scotland. How do you get Universal Credit? You may be eligible for Universal Credit if you are on a low income or if you are out of work. […]

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Loan Compensation

Loan Compensation

In the light of Wonga going into administration, lenders are being instructed by the Financial Conduct Authority (FCA) to offer compensation for any mis-sold payday loans. This is to happen even if the compensation payments would result in or threaten the company with bankruptcy. The FCA says that payday lenders have the obligation to contact their customers about the possibility of compensation if creditworthiness assessments were not compliant. Lenders should also inform the regulator if they are unable to meet their financial commitments due the cost of reimbursing their customers through compensation. As mentioned, this warning has surfaced after the […]

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