Payslip/Bank Statement Loans

dranzer01

It seems all loans do some sort of credit check on you (even though they may advertise that it is a 'no credit check loan')

Are there any loans/payday advances where you send across documentation of payslips/p45/p60's over performing a credit check? It seems all the ones showing to me perform credit checks.

I remember quite a long time ago you could walk into a payday shop with documentation and that was it.

Thanks for any help.

kaMelo

Unless you're talking about borrowing a couple of hundred pounds or so I would suggest it's highly unlikely. The payday loan companies have been battered with irresponsible lending complaints because they didn't do thorough checks on borrowers complete financial status. The result is most of the payday loan companies are now gone/in administration.

Providing proof of earnings is only half of the story without knowing what your current liabilities are, to loan money only on the basis of what you earn would almost definitely fall under the "irresponsible lending" heading. By doing a credit check they can see who else you have debts with and how you have managed debt previously.

Ebe_Scrooge

Any lender that didn't perform a credit check would be leaving themselves open to all sorts of issues.  How do you think they're going to assess your credit-worthiness if they can't see your history?

What have you got against a check being performed?

dranzer01 said:

I remember quite a long time ago you could walk into a payday shop with documentation and that was it.

Look at the fallout caused by that approach!