Can’t get credit from your local high street bank? Not uncommon these days unless you are home owner with significant equity. Got historic credit problems, a poor credit score or possibly no credit score? Applied for a number of loans that have been unsuccessful?
Then rather than use a payday loan at extortionate interest rates and often with massive fees and penalties why not consider a Guarantor loan. The best ones such as LendFair or Amigo charge realistic interest rates, have NO fees and can even work to improve your credit rating. Compare a LendFair guarantor loan with a representative APR of 48% to a Wonga payday loan of 5,853% (wonga website 23/01/2014).
All you need is a family member or friend who is a homeowner under 75 years of age and you can apply on-line for a loan of £500-£5,000 based on what you need and your ability to repay. Spread the loan over 6 months to 5 years to make the repayments affordable.
A Guarantor loan can be used as a direct replacement for one or more payday loans, saving huge amounts of interest and with lower regular repayments which actually settle the debt in full! So take advantage of a Guarantor loan to restructure your payday debts.
Find out how at www.lendfair.co.uk