RESPONSIBLE LENDING

Each of our panel of lenders need to have a Responsible Lending Policy to protect consumers. Some lenders also belong to the BCCA, meaning they must keep to a strict code of practice that relates to short term lending. Others may be members of the Consumer Finance Association. These lenders have specific operational and ethical guidelines to which they must adhere. Before accepting a loan, make sure to check the responsible lending code of practice for your lender.

It's important to completely understand that a payday loan is a short term loan taken out for a month or less. If you have had four or more payday loans within the last year, we advise you to seek some debt and budgeting advice.

Many lenders will not let a borrower receive loans equaling more than 30% or more of their income each month. If your application was declined, then you can always try again for a lower amount.

Short term loans are not recommended for holidays or casual items considered 'leisure'. They are to be used for individuals to avoid short term issues they may have until the next payday.

Please make sure that any short term loan site you use has a secure application form using SSL technology.

It is very important that you fully understand the cost of the loan and the repayments before accepting any loan.

Always make sure that you are able to afford your loan repayments on your next payday. If you think that you will miss a repayment, you must contact your lender to agree a solution.