Text loans are short term cash advances that are approved and transferred within minutes. First time application takes time for approval while once your text loan account is created you can apply for cash advance up to £100 anytime using your mobile phone and get instant access to cash. Apply for your text loan account through our website to get quick approval. We are affiliated with a panel of 40+ payday lenders in the UK. And every text loan application submitted on this website is automatically sent to 2 or more lenders offering quick short term loans in their location. This is a loan matching service that we offer. It speeds up the loan approval process without charging any fee to the consumers.
Sometimes when a lender does not approve your sms text loan application, they try to help you by offering an alternative finance option to help you cover your urgent expenses. For this they might offer you a 1 month payday loan proposal. If you find it suitable, you can choose these options.Eligibility requirements for Instant Text Loans
The lenders base their approval on the information provided by you in the loan application form. The details you provide in the form would help the lenders to understand your current financial situation and get an idea of your past loan accounts. This is required by them to decide whether or not you can afford to make timely repayments of the sms txt loan and how much risk is involved in lending you the money. You would be proposed a £100 text loan quotation instantly if the lender believes that 1) you are a responsible borrower, 2) you can afford the sms loan repayment easily with your monthly income. Further they also check that:
Text loans are so easily accessible that people tend to forget if they have borrowed any money. It is the biggest drawback of having instant access to loans. So, these text loans are most suitable for individuals who manage their finances adequately and do not miss any repayment. This way they can enjoy the benefit of instant text loans while improving their credit rating with every successful loan account.
But, for those who are not able to arrange funds on time, the lenders might offer flexible repayment solutions. You just need to contact the lender prior to your text loan due date and discuss your problems. If possible, the lender would offer you an alternative repayment structure, may be a loan roll over or a loan extension for few more days. But, be prepared, these features can cost you some extra amount.
If you have already missed your loan due date and have also not informed the lender about your problems then the lender might impose a miss payment penalty on your account. Further, he can also contact collection agencies to recover their loan amount. So, you might end you having bad credit remarks in your credit register and pay extra for the same loan.
To know how much text loan you are eligible of borrowing and compare quotations, APPLY NOW and we would help you connect with payday lenders instantly.