Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

What is a Three Month Payday Loan?

Unexpected and sudden costs can often induce a lot of worry. A fast solution may be to apply for a three month payday loan to cover some of the costs and alleviate the worry. As the name indicates, three month payday loans differ to tradition short term finance in that they are repaid over a three month period. A three month payday loan is the perfect solution to a short term financial issue.

In order to stay financially stable during two successive paydays, a small three month payday loan could be a fantastic solution for a 3 month period. All of the repayments can be planned in advance. This means that it’s easy to set a budget in place to ensure the repayments are manageable. Payday Loan Ranger can source you a loan with instalments that suit your own individual budget and timescale. We set up everything for your convenience so you have one less thing to worry about. That said, there can still be late fees and penalties set in place for defaulting on the payment.

What should I consider before applying for a three month payday loan?

It’s imperative when you’re thinking about applying for a three month payday loan that you look towards the broker. You need to make sure that they employ responsible lending policies with the 3 month payday loan lenders they work with. This is to ensure that you know you can definitely afford the repayments and you’re not going to get stung with further charges down the line. The FCA have done a great job of weeding out the lenders and brokers that aren’t to be trusted but unfortunately, there are still some around. Keep your wits about you, and use a broker that presents multiple options. Never settle on your first option.

Also, always remember that a three month payday loan is a short term financial aid and should never be depended upon in the long term. For help with debt management, visit the Step Change website.