What is the difference between a standing order and a direct debit?

What is the difference between a standing order and a direct debit?

What is the difference between a standing order and a direct debit? Standing order and direct debit are two terms you have probably come across many times, as they are the two most common methods to make regular or recurring payments to either individuals or companies. In many respects they are similar but their difference is crucial as these details may make one option far more appropriate to your particular needs. Standing order overview Can be set up either on the phone or online Operates in fixed amounts It functions as an instruction to the bank to pay another bank […]

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What are e-commerce loans?

What are e-commerce loans?

What are e-commerce loans? Are you an online seller? If you run a business on the net, you will know that a considerable amount of time is spent trying to optimise sale growth in an increasingly competitive market when so many companies are vying for the attention of online customers. One of the ways you may consider facilitating growth is through funding, such as through payday loans bad credit.  We also take a look at e-commerce loans and explore what they can do for your company. E-commerce loans   E-commerce loans are a form of external financing that can be used […]

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Understanding student loans

Understanding student loans

Understanding Student Loans If you or one of your family members is heading off to university in the near future, you may want to get clued up on who it is that will be paying for it and how it will be paid for. For most, a student loan will be the first loan they ever take out and owning back such a large sum of money can be daunting. Therefore, it is of great importance to understand how loans and repayments in general work, so that you do not have to spend your time worrying about it. How is […]

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Things you need to know about balance transfer cards

Things you need to know about balance transfer cards

Things you need to know about balance transfer cards What exactly is a balance transfer card, and when can it be used to help with your finances? We take a look at what you need to know when it comes to these type of cards. What is a balance transfer card? A balance transfer in many ways is self-explanatory, it works by shifting debt from one account onto another a new credit card. This balance transfer credit card pays off the balance of your old card through swapping. Using balance transfer cards can help you to manage credit card repayments, […]

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What is an IVA?

What is an IVA?

What is an IVA? If you are one of the eight million people in the UK currently struggling with debt and paying back credit cards, a mortgage or a payday loan, it may be worth considering an Individual Voluntary Arrangement (IVA). At Payday Bad Credit, we take a look at what an IVA entails, what this means for you and the benefits of arranging one. An Individual Voluntary Arrangement This type of arrangement makes part of an agreement you have made with creditors in order to help pay off some, or all, of your existing debts, but at an affordable […]

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What Happens When You Go Bankrupt?

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?

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?

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?

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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What is Debt Consolidation?

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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