- Emma Anderson
- April 13, 2023
Cashless emergencies can catch one off guard. If you receive weekly pay than a monthly salary, the pay-weekly loans can help meet the cash need. It helps with budgeting as you will know how much to save for the weekly payments. By clearing the debt in a week, you can budget for other expenses in the other half of the month comfortably.
What are Pay Weekly loans?
The pay-weekly loans help you get instant cash for emergencies. You can spread the cost of the loan to make it more manageable. Here you can borrow up to £5000 for your needs and pay in weekly payments.
For example, if you borrow £300 for 3 weeks, your weekly payments would be £14.28. If you want, you can extend the loan term to 5 weeks to manage the loan better.
With this loan, you do not have to save a whole lump sum to pay by the end of the month. Instead of this, you can split the loan costs and pay weekly. The lender collects the payment through direct debit every week. You can qualify with valid income proof and stable finances. These are same-day loans.
Can you get pay-weekly loans at the door?
Yes, we provide pay-weekly doorstep loans to individuals lacking a bank account and needing urgent cash. You can fill up the application form, and we will review it.
Post the initial check; we will send one of our representatives to your home to provide you with the cash. He may conduct further checks to ensure the affordability and purpose you need it for.
It helps the borrowers discuss any questions that they might have face-to-face. We understand sometimes one cannot make it to us and provide doorstep loans.
You can get the loan at home/office space within 45 minutes. The interest rates on pay-weekly loans are competitive as these are instant loans without a cumbersome eligibility process.
You can apply for doorstep pay weekly loans if:
- You lack a bank account
- You have a bad credit history
- You have no credit history but need money urgently
- Have mobility issues
- Cannot walk out of the home to get cash
You can pay the loan within 14 days of the loan application. If you want to spread the loan costs further, you can do that.
What are the benefits of pay-weekly loans?
With one of the benefits being the cash at doors, there are other advantages of a pay-weekly loan. You can leverage these superfast loans with us at the easiest loan terms and costs. Here are other benefits of these loans:
1) All-purpose loans in emergencies
The greatest flexibility that comes with these loans is the purpose of using them. We never ask borrowers if they apply for loans online. Here are some purposes you can use the loan for:
- Repair the broken car
- Pay the utility bills
- Pay credit card dues or consolidate
- Students can pay the fees
- Medical emergencies
2) Bad credit individuals can qualify
The best part about these loans is- You can get these without any credit obstacles. Whether you have poor or bad credit history and need urgent money, you can rely on these loans for immediate approval.
But before applying, ensure that your credit profile reveals well-managed loan payments and credits. If you have too many debts, it may impact the amount you can borrow.
3) No collateral is required
In some situations, one wants flexibility and freedom regarding loan approval. With no credit and collateral constraints, one can easily qualify for these loans and meet requirements. We understand that some situations cannot wait for detailed loan checks and provide collateral-free loans.
4) Loans for every income bracket
One of the benefits of these loans is- you can apply with any income. It suits every income scale for urgent purposes. For example, whether you earn £1200/month or just £400/month, you may get a suitable repayment schedule that does not hurt your budget.
Are these loans available without a credit check?
No legal and responsible lender can provide a loan without a credit check. We conduct a soft credit check for the affordability assessment before approving the loan application.
The check leaves no footprint on the credit score. It implies your credit score remains the same at the time of loan application. It depends on how responsibly you manage the loan payments. If you pay as per the loan agreement, your credit score increases.
Contrary to this, the credit score drops if the finances drop and you miss a payment or two. Choose the repayment term wisely. Before signing the loan agreement, analyse your circumstances, liabilities, outgoings, and income.
It would help you pay the loan comfortably. With no detailed documentation and checks, you get the loan fast. These are also known as quick loans in the UK marketplace. To get same-day cash assistance, contact us.
Can an unemployed get a pay-weekly loan?
Yes, an unemployed can qualify for pay-weekly loans if receiving income from government benefits.
We consider such applications. An emergency can strike anytime – employed or unemployed. You need financial cover in cashless situations. We provide that if an unemployed receive regular payment in the form of benefits.
Over the years, pay-weekly or instalment loans are becoming popular among borrowers for emergencies and short-term purposes. It grants flexibility to pay a small amount for a longer duration comfortably.
Which is the best option- pay weekly or pay monthly?
Weekly loans have smaller repayments in comparison to monthly instalment loans. It is more comfortable than a monthly payment schedule, as you can end the loan sooner.
Another benefit of paying weekly over monthly loans is- lower interest costs. The longer the loan, the higher the interest costs. Pay-weekly loans are cheaper to pay monthly loans.
However, you can spread the loan payment up to 12 months if you have low income or finances.
Pay weekly is the best solution. Again, it depends on the finances- income and liabilities. These factors decide the course of the loan payments. Hence, either can be beneficial.
Pay-weekly loans are an ideal way to surpass emergency cash needs without panicking. All you need is valid income proof to get it. It helps you budget for the month by clearing debts within the week. For any short-term needs, you can consider these a boon to your needs.
Emma Anderson is a financial advisor at Quickloanslender who always believes in researching hard to know her clients’ financial problems. She takes the time to understand their financial wants and needs to write the blogs on them as the solutions. In her long 14 years of experience, she has written plenty of blogs on the financial and business sectors of the UK.
Emma Anderson has been recognised for her work in financial planning and her blogs are regularly published in the website of Quickloanslender. As far as her educational qualification is concerned, she has done Masters in Accounting and Finance, and done PG Diploma in Creative Writing.