Borrow responsibly through Paydayin1hour

We are proud to be a responsible payday loans broker, and work hard to maintain that reputation. We always work towards these aims:

• We will not encourage anybody to take out a payday loan if we have reason to believe that it would cause them financial hardship.
• We will not deliberately target anyone with advertising who is not yet 18, unemployed or financially vulnerable.
• We will not try to convince anyone to take out a loan that they cannot afford to repay, or make any misleading statements about how much a payday loan costs.
• We will not charge you any application fees. Applying with us is completely free.

• make sure that everything on the site gives a clear, full, understanding of how payday loans work, and will avoid anything that could be misleading
• always follow legal and ethical marketing practices.

Where to get free debt advice

If you're experiencing serious issues with debt, payday loans may not be the right option for you. You’ll be able to find lots of advice that is both free and easily available. We suggest you start at the Citizens Advice Bureau, or the Government debt advice site. You can also go to an independent debt advice charity. All of these should offer free advice – be wary of anywhere that offers to help you with debt in return for a fee. If you are unable to resolve debt issues, you can contact the Financial Ombudsman for free on 0300 123 9123.

How to choose your payday loan safely

You should always look for some actual contact details, especially a phone number and address. If something goes wrong, you will need to be able to contact them. Real contact details (not just an email address) are a good sign that the company is accountable. Also, check you can see their licence number either on their homepage or their ‘about us’ page.

Budgeting

It’s definitely worth taking the time to take a serious look at your budget if you haven’t already. You’ll be able to find plenty of good budgeting information online. Before taking out a payday loan, do work out if you can afford to repay it at the end of the month, as they can be far more expensive if you don’t repay when you should.

Implications of Non-Payment

We always recommend repaying on time, and our representative examples assume that you will. If you are unable to pay on time, each lender has their own policies with regards to fees and interest, and how they collect outstanding debts. Some lenders may pursue claimants by legal means in the event of repeated non-payment. Most will contact you by phone or letter in order to rearrange payment. Non-payment may result in charges and/or raised interest and may affect your credit score.

Renewal Policy

If you wish to renew your loan, you should contact your lender in advance. Most lenders will charge the same rate of interest and fees for another month on the entire amount owed. In the event of non-payment, a loan renewal/extension could be automatic and further interest and/or charges may be added to your account.

Rollovers

You may have the opportunity to roll over your loan, which means paying off the interest earned to date and continuing to gain interest on the original loan amount over an extended term. This interest will most likely be at the same rate that the original loan was charged at. Some lenders may insist on a rollover as opposed to a renewal.

Repeated loans

It is important to keep track of what you’re doing with payday loans. If you’re continually taking them out, and for more money each time, you may be misusing them and costing yourself more money than you need to. If this is the case, please consider independent advice and take a serious look at your budget.

Short term loans

It’s important to realise that payday loans are short term products, not solutions to long term financial problems. If you are taking out payday loans regularly in order to cover normal monthly expenses, you may need some advice or help.