FAQ

How do you earn your fee for this service?

To operate this service we receive commissions from the provider we refer you to. We are a broker not a lender. We use a unique process to match our customers requirements to our lenders which is based on many of the features of the application details, applicant preferences, and the lenders product but does not include the commission paid by the lender to us. We DO NOT charge our customers a fee for this service. No one from On Time Payday Loans or any financial partner relations; including lenders; will ever contact you and request you to send money to them or buy products from them in advance of receiving your loan. To learn more about dealing with cold-calls, refer back to our fraud protection guidance.

Where can I find information about your Renewals Policy and Responsible Lending Policy?

As we are a responsible, open and honest company, we believe that it is important to make all our policies easily accessible. Please see here for our Responsible Lending Policy and our Renewals Policy

What is a short-term or payday loan?

A short-term or payday loan is a loan that is intended to cover a customers expenses until his or her’s next payday. A lender will usually charge a fixed fee per every £100 borrowed and the loan is until your next payday, regardless of when you apply.

What is an instalment loan?

An instalment loan is usually a higher value loan, typically between the value of £400 to £2000. An instalment loan is also paid back over longer period of timne usually in the region of 3 to 18 months and incurs a smaller interest rate.

Can I apply for a loan?

You can apply if you are: 18 years of age or older, living in the UK (England, Scotland, Wales and Northern Ireland), employed and receiving a regular weekly or monthly income which is paid into a valid bank account that accepts direct debits.

How do I apply for a loan?

you can apply for a loan 24 hours a day 7 days a week. Most of lenders work 7 days a week and can even deposit funds into your bank account on the weekend.

Complete our quick and easy online form and just click ‘Submit’. If you are approved you will be transferred to the lender’s website to complete the process. Your lender may ask some additional questions whcih were not asked on our application form. You then sign your loan agreement online and receive your loan from your lender.

Why is the APR so high?

Short-term or payday loans are normally taken over a maximum term of 30 days so the APR is not the best way to see how competitive our rates are. Our lenders prefer to focus on the amount you pay back in total rather than on APR. We are confident that we offer the most competitive rates in the market for this service.

Instalment loan APRs are lower due to the fact that the loan repayments are spread over a longer period of time.

How do I repay my loan?

Your repayment of your loan will usually be taken in full via direct debit on your next payday, this will be taken by the lender who you have chosen to take your loan with. in the case of an instalment loan, the payments will be taken by direct debit on the same agreed date each month you agree with your lender.

Do you use credit agencies to check credit scores?

Yes, when you subbmit your application you consent for our lenders to run a credit check to see if your eligable.

I have bad credit history – can I still apply?

Yes, dont hesitate to apply, most of our lenders will also consider applicants with a less than perfect credit history

How fast can I receive my loan?

Times will vary based on the lender you have agreed your loan with and also the type of loan you are looking for. Usually a short-term loan can take as little as 30 minutes, this means funds can be sent to your account the same day as you are approved. terms and conditions can change depending on your lender.

How will I receive my money?

loans are paid directly into the bank account you provide.

Do you charge any fees for the service you provide?

No, we do not charge you a fee for using our loan matching service. However, if we are unable to find a loan for you we may be able to match you with an alternate broker who may charge you a fee for accessing their extended panel of lenders.

there will be no obligation to pay the fee, you will have the right to decline the fee and select a no fee option. We only work with brokers who offer a free trial period and full refunds when the service does not meet expectations.

Fees are charged by some of these entities to cover the cost of call-centre operations and membership system infrastucture required to source alternate loan options for you.

If you decide to pay the fee, all our partners will take your payment details via their website using SSL-secured technologies. No one will ever contact you and ask you to purchase products in advance to prove your ability to pay. If this happens you may be a victim of fraud. Learn more about how to protect yourself by referring to our fraud protection guidance.

If you wish us to skip offers that require up-front fees, you can specify this preference on our application form and we will skip them for you.

How do I stop receiving email’s and text messages from you?

If you are receiving email and text messages from our company it is because when you filled out the online application, the marketing permission box was checked when you applied for a short-term, payday loan or instalment loan with us

If you wish to stop receiving news of our latest offers and deals please click on the unsubscribe link in one of our emails or reply ‘STOP’ to one of our text messages.

Fees are charged by some of these entities to cover the cost of call-centre operations and membership system infrastucture required to source alternate loan options for you.

If you decide to pay the fee, all our partners will take your payment details via their website using SSL-secured technologies. No one will ever contact you and ask you to purchase products in advance to prove your ability to pay. If this happens you may be a victim of fraud. Learn more about how to protect yourself by referring to our fraud protection guidance.

If you wish us to skip offers that require up-front fees, you can specify this preference on our application form and we will skip them for you.

What are my rights to cancel my loan?

If for any reason you choose to cancel your loan please refer to the loan agreement sent to you by your lender, cooling off periods and lender cancellation policies may vary.

What if I have difficulties making repayments?

If you think you are going to have a problem with your repayments We would advise you to contact your lender as soon as possible, The sooner they know there’s a problem, the sooner they can start to help. they will usually advise and help you with your situation, they will do everthying they can to make things easier so donot hesitate to contact your lender, you will probably be surprised how understanding they are. if you need help locating any phone numbers please contact us at support@ontimepaydayloans.co.uk. and we will be happy to help.

Alternatively, if you’re worried about things and want more information about how to manage your money, there are a number of free and independent organisations which can help.

www.stepchange.org Is a free advice on debt problems and finding the best solution for you.

www.moneyadviceservice.org.uk Offers a free, unbiased and independent advice to people who want to manage their money more effectively. Face to face sessions available.

www.nationaldebtline.org Is a Free, confidential debt advice service that is run by the Money Advice Trust.