why do places like paydayloans.co.uk ask for 30 pounds to borrow money?
i desperately need some cash so im defo getting a loan but most of these rip of companies as i call them that pray on the poor like me aha ask for 30 quid why and how can i check that ile get my money has anyone else used these places before like wonga and payday they ask for account detail es even credit card numbers ect to pay the cash in to my account and to pay the 30 quid help please thanks in advance
Unfortunately, the Internet is overrun with scam artists offering people loans. You should assume that anyone offering you a loan is a scam artist until proven otherwise. Remember that real lenders never ask for an advance fee. Any fees they require are added to the loan amount, you never pay for them upfront. If you pay an advance fee, they will take your money and run. Never give personal information to someone who may be an identity thief. See this U.S. government link about scam artists:
payday loans in UK?">How I can get online payday loans in UK?
You partially answered your own question when you said that you "desperately" needed some cash. These "Pay Day" loan businesses are there for exactly the reason you stated, that being, to give someone a quick loan until their next payday because of an emergency that came up. If you went through a banking institution for a loan, you’d need some collateral and a couple of weeks fro the loan to possibly go through. That wouldn’t be helpful to some one needing to borrow money immediately. That’s why they can get the large "interest" rate. They loan you the money ( no more than your weekly pay check ), with the promise you’ll give them the money back at your next pay period plus the fee or "interest" you agreed to. This is like everything else that is considered to be "supply and demand". You need them desperately for a "favor" to loan you money that you don’t have right now because an emergency came up. For them to be able to take a chance and loan you the money without going through the normal procedure of requiring some "collateral" from you, such as holding the title to your vehicle or a lien on your house, they just charge you a high interest rate for using their money for a week. If you have no other alternatives like family or friends from which to get a quick loan, these pay day loans fill that need. They ask for your credit card number just in case you can’t pay them their money back, plus the interest. They just charge your credit card for the amount and they don’t lose anything. they are just protecting themselves. If these type of businesses didn’t have customers using their services, they would soon go away. If you look at what a credit card company charges for interest on a "cash advance" at an ATM, it’s really pretty similar. My credit card company charges 22% for a cash advance, because like the Pay Day Loans, they’re giving you an "unsecured" cash loan.
References :
Life.
Unfortunately, the Internet is overrun with scam artists offering people loans. You should assume that anyone offering you a loan is a scam artist until proven otherwise. Remember that real lenders never ask for an advance fee. Any fees they require are added to the loan amount, you never pay for them upfront. If you pay an advance fee, they will take your money and run. Never give personal information to someone who may be an identity thief. See this U.S. government link about scam artists:
References :
http://www.fdic.gov/news/news/specialalert/2008/sa08058.html
hi
If you looking for a legitimate payday loans upto $1000 in 1 Hour .once approved your loan will be transferred directly to your checking account promptly, and securely. Now you’ll be able to use the cash for all your necessities.
http://bestpaydayloancompanies.com
• 100% secure and processing
• No faxing -No credit check
• Immediate online approval
• Excellent customer service
• Get Cash in Minutes!
Good luck!……
References :