Best Payday Loan Company

anonamoose

I know it's like asking which is the best sexually transmitted disease, but I find myself in a situation where I am going to have to use one.

Unlike a lot of people, I know that the money will be there to repay it on time and I have considered all other options.

With that said, which is currently the best of the bad bunch?

InsideInsurance

How do you define best?

How much are you needing to borrow? How long do you need it for?

Quidco offer a reasonable amount of cashback with some of them. If you KNOW its a one off and funds will be there then you're really just looking at the ones with the lowest fees rather than those that allow you to roll it over or are most reasonable with negotiating more time to repay etc.

gizmo111

Wonga seem Ok and there is £15 cashback at quidco.

crazyguy

They are all thieves and will con you with very high apr's

JustinCredibleGillespie

Could you not try your bank first? Maybe ask for a short term overdraft facility?

Surely if you told them you could pay the money back into the overdraft within 31 days it would be acceptable and it would save you a fortune in interest.

gizmo111

crazyguy wrote: »

They are all thieves and will con you with very high apr's

They don't con you - if you take one out then expect to pay high interest on it it's clear at the start what it costs. I agree if at all possible avoid them but they are handy when needed for very short loans.

Naf

crazyguy wrote: »

They are all thieves and will con you with very high apr's

I find this a little strong, although I do appreciate people's dislike & mistrust of them.
As is pointed out here frequently, its a different kind of lending, with a different intent so APR (or AER) is irrelevant to an extent.
e.g. I was waiting for money to come in last week and there were things I needed to buy with it. On Tuesday I didn't know for certain (and neither did who was sending it) if it would be there Tuesday afternoon, evening, Thursday morning or if it would be the full BACS system of Friday. Waiting 'till Friday could (as it turned out it wouldn't have, but it could) have meant I didn't have time left to go and get things, so I needed about £80 of it upfront. So I went to The Money Shop, cashed a £100 personal cheque (pretty much same rates as any other payday loan) and went ahead and got what I needed. Turns out the money went in Tuesday evening, so Thursday I went straight back in and repaid it, reclaiming my cheque.
For the sake of £17 and making sure I got everything I needed on time, it was perfectly acceptable to me given that I had no other place to go to get it.
The AER on that works out around 6200% (I think) which is utter madness if you choose to look at it that way, but its not the same.

EDIT: and no, I don't work for them in an way shape or form. I just understand their use when viewed and used properly

MrsB2100

I'd definitley check Quidco or Topcashback to see what cash back offers are available ... dont forget though, Quidco will charge you £5 a year admin fee, so if you dont already use this site, bear that in mind. I'm not sure if Topcashback do the same thing.

bella2121

Payday UK are good, as are wonga I have used them both in the past, but it can get into a vicious circle of borrowing more each month to repay the loan and interest etc, but if it is your only option and you are sure you can pay it back and not borrow again straight away then I would recommend these 2 I have never had any trouble with either.

HTH

roh999

anonamoose wrote: »

I know it's like asking which is the best sexually transmitted disease, but I find myself in a situation where I am going to have to use one.

Unlike a lot of people, I know that the money will be there to repay it on time and I have considered all other options.

With that said, which is currently the best of the bad bunch?

herpes is probably the best option.

Mallotum_X

Really try and avoid, cant you scale back the amount you need, or ask friends of family. or bank for short term overdraft. Really do try and avoid using a payday place.