You've probably heard the ads and read the signs, claiming you can get up to £500 paid loan with bad credit or no credit at all. While these types of advertisements aren't exactly false, they aren't telling you the entire story.
Cash loans have been around for decades. They have been used as a way to lure people into debt by saddling them with late fees and interest when they can't pay back their small loans.
People who use these kind of loan lenders are typically desperate for money. They have immediate expenses that must be paid, such as medications for a family pet or new tires for their vehicle. The cash lender promises a simple way to get up to £500 payment loan with favorable terms. The individual then signs their life away without even reading the fine print, and BAM the interest rates start racking up.Read more »