Direct Payday Loans

Get between £50 - £5,000 paid out by

How much would you like to borrow?

£
  • 100% Online Process

  • Borrow up to £5,000

  • UK Based Lenders

  • Bad Credit Accepted

  • 2 Minute Application

  • Same Day Transfer

  • Representative Example: Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable). *HappyPenguin will not perform a credit check but lenders will determine your loan eligibility by performing a soft search. If you accept the loan offer presented to you, a hard credit search will be performed.

    Using Direct Payday Loans Effectively

    If you are in debt and want to get out as soon as possible, it is important to come up with an effective plan of attack. The more committed you are to doing this, the easier it will be. Many people in the UK are carrying a significant amount of debt, but few of them know how to deal with it properly. This article will help you get on the right track financially so you can start paying off the money owe faster. Nobody wants to be stuck in debt forever, and with the right tips you won’t have to.

    1. Pay Your Bills On Time

    How much would you like?

    £
    Apply Online

    As simple as it might seem, paying each of your bills on time can go a long way towards managing your debt more effectively. The fewer payments you miss, the easier it is to pay off what you owe sooner rather than later. You also need to keep in mind that your credit is going to suffer when you are late on any of your payments. Make sure that you know when each of your payments is due so you don’t miss any.

    1. Take Out a Payday Loan to Catch up

    Many people in the UK have gotten the help they need from direct payday loans with managing their debt. While it might seem like a bad idea to take on even more debt, these loans can be very helpful. You can use the money you get from a payday loan to catch up on some of your missed payments. It is fairly easy to get long terms on these loans, so you will have plenty of time to pay off yours.

    One of the great things about these loans is that you can get approved regardless of what your credit is like. While credit checks are still performed, even people with incredibly low scores still have a good shot. A student payday loan could be exactly what you need to get help with keeping your debt under control. Just make certain that you take the time to look for a flexible lender. Let them know that you have other debt you are currently trying to pay off. There is a good chance that you can find a private lending business on the Internet that can help you.

    1. Look into Balance Transfer Cards

    A balance transfer credit card can also be of great help when you are trying to take care of your debt quickly. These cards come with 0% interest for a set period of time. This period could be a few months or even a full year. Depending on how long the introductory rate lasts, it might be enough to help you clear your debt and catch up on your payments.

    It is important that you not abuse this option though, because it can easily backfire if you aren’t careful. The duration of the introductory period will partially depend on what your credit rating is like. You will need to crunch the numbers and find out how much you should transfer. You never want to transfer more debt than you can pay off before the introductory period runs out. Failing to take this into consideration could put you even further into debt.

    1. Cut Back on Certain Expenses

    When you are trying to take care of your debt as quickly as possible, you should consider reducing your spending in various areas. This could be foregoing entertainment streaming services like Netflix or even your cable subscription for the time being. If you have a gym membership you rarely use, consider cancelling it if you can. This can go a long way towards helping you to get your debt under control faster. Even saving £50 per week can help you out a lot with this. Nobody likes to go without these things, but it might be necessary. Just remember that it won’t be forever.

    1. Keep Saving Money

    How Does Happy Penguin Compare?

    Why Use HP?
    What's the max loan amount?
    Up to £5,000
    No hidden fees.
    Is approval instant?
    Yes, immediate.
    On Screen Decision
    Poor Credit Possible?
    Yes. Bad credit too.
    All considered.
    Same day transfer?
    Within the hour!
    Direct to bank!
    Flexible Repayment Dates?
    Flexible terms.
    Quick and easy.

    Even those who are very deep in debt still need to keep contributing to their savings on a regular basis. Just because you are trying to pay off your debt doesn’t mean that you should stop putting money into your savings account on a regular basis. It’s okay if you are putting in less than normal, but do not stop altogether. You need to keep your future in mind, because otherwise you might be left with nothing when you are older and ready to retire.

    1. Start Increasing Your Payments

    Paying the bare minimum on your credit card or other debt you owe is never a good idea. You always want to pay as much as you possibly can while still managing your other financial responsibilities. The more money you set aside for these bills, the faster you will be able to get wipe out your debt altogether. Take some time to do the math so you can figure out the maximum amount you can afford to make with each payment. Paying more each time will ultimately help you save money. The sooner you clear the balance on your account, the less interest you will have to pay.

    1. Consolidate Your Debt

    Sometimes consolidating your debt into a single monthly payment is the best option for getting a real handle on it. As we mentioned above, quick payday loans can be a good option for handling one’s debt. There are lots of lenders who give out these kinds of loans. These lenders are usually based online and make it easy for people who are struggling with debt to get the help they need.

    A short-term loan from a payday lender could be exactly what you need to pay off what you owe as quickly as possible. You could end up getting a better interest rate than what you have now. Despite what you might think, these loans are not always small with short terms. In fact, you could borrow as much as £10,000 with a term of over a year. This could be just what you need to make your debt more manageable overall.

    Before you decide to go ahead with this option, you’ll want to figure out how much your debt is actually costing you right now. This means adding up all of the payments you are making as well as your interest rate. By doing this you will get a better idea as to whether or not you will really be getting a better deal with a new lender. You don’t want to consolidate your debt unless you are going to pay less than what you currently are spending.

    1. Quit Using Your Credit Cards

    Whether or not your credit cards are the source of your debt, you should avoid charging any expenses to plastic until your debt is under control. As frustrating as this might be at times, it will ultimately help you. It is far too easy to fall deeper into debt when you are paying for things with plastic. This is how many people end up owning a ton of money in the first place. You don’t have to cut up all of your cards, but maybe don’t carry them with you for a while. This will remove the temptation to charge certain things. As they say, out of sight out of mind.

    1. Negotiate with Your Lenders

    You should at least make an attempt to negotiate with your lenders or creditors to reduce your payments. There is a chance that they can lessen the amount you pay each time, but there is never any guarantee. You have absolutely nothing to lose by just asking. Lenders want to get paid what they are owed, which is why most of them are willing to negotiate to a certain extent. This could help you enough to get your debt to a more manageable place. It all depends on just how flexible and reasonable your lenders are.

    1. Don’t Allow Your Emotions to Get the Better of you

    One thing that not a lot of people consider when it comes to managing their debt is emotion. A lot of people make some really bad decisions based on emotion instead of level-headed logic. If you are start to feel mentally overwhelmed, take a few deep breaths and revisit whatever you were thinking. You might be surprised at just how effective this can really be.

    Anyone who has a significant amount of debt they are trying to manage should try everything they can to get results. There are tons of different ways to get out of debt, but some of them work better than others. The tips and advice we have listed in this article should help you make noticeable progress with your debt. Just remember to stay the course and be patient, because it might still take a while. You also need to prioritise your bills at all times with no exceptions. Missing even one payment on your loan or credit card can do a lot of damage to the progress you have made so far.

    Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk. Happy Penguin is a broker, not a lender, and does not make credit decisions.