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Quick Loans Unpacked
December 11, 2019

It is hard to believe just how quick loans can be in the current loans market place. Quick loans are just about everywhere you look; quick loans for Christmas, Holidays or just about any break you may potentially need money for. But what is the value in having speed as a precursor to any formal financial arrangement?

The Positives of Quick Loans

The main positive attribute of quick loans is the simple fact that those who apply for a loan can have the money paid into their chose bank account in a short period of time. This can be vital for those people who haven’t got the time to wait around for days or even weeks whilst their loan applications are being considered.

Another positive aspect of quick loans online is that the loan applications can typically take place outside of normal working hours. This is due to the automation of the loan application process and is often offered by those loan companies who provide a 100% fully automated, online loan agency. This is a huge benefit for those people who need a quick loan and cannot wait for the standard opening and operational times of the more traditional lenders.

The Negatives of Quick Loans

Although it is easy to quantify positive elements of quick loans, a word of caution should also be raised in order to balance the argument. Quick loans, as any other loans will always need to be repaid, irrespective of the expediency of the deposit of funds into the applicants bank account. In most cases, quick loans will have repayments ranging up to 2 years and therefore even though a loan is deposited rapidly, the repayment scale can often be protracted. As with all loan applications, carefully consider the terms and conditions and repayment schedule, prior to making an application.

United Kingdom Loans does not make credit decisions and is not a lender. United Kingdom Loans introduces customers to Nouveau Finance Limited, who match customer's loan applications with lenders on their panel based on the information you provide. United Kingdom Loans may receive commissions for introductions. This website does not directly endorse a particular product or service. Information on our website should be taken as opinion only. Loans for UK based customers only. Loans are subject to status and satisfactory affordability checks. Over 18's only. Default charges may apply if you do not repay on time. Short term loans are not suitable for longer term borrowing needs.

Consumer Advisory:
United Kingdom Loans is a loan matching service. This website will submit the information you provide to a direct lender. Upon a loan approval, a direct lender may require further information from yourself which will be collected after we transfer you to their website or they may contact you via phone or email or both.

Auto Decisioning
Auto Decisioning allows lenders to make a decision on your loan application without the need for human interaction, for more information please contact your lender or see their privacy policy.

Non Payment Implications
The implications of non-payment of your loan could include adverse details being included in your credit report. This could adversely affect future attempts at securing credit or finance, in additional to further charges potentially being added by the lender. Where you miss a payment entirely, you will often incurr a charge / fee that will be added on to the total amount that you owe. Upon a missed payment, lenders will often try to contact you by telephone or letter in order to recover the funds and they may be able to arrange a new repayment date with you. If you are struggling, or think there is a possibility that you will not be able to meet repayments, Rhumsaa Finance strongly recommends that you contact the lender in the first instance.