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

Authorised and Regulated by the Financial Conduct Authority, LenderSeekers is your completely free* one-stop short-term and instalment Payday Lender comparison website.

Below, you will find our Featured Short Term Lenders with details about each as well as a link to our Compare Lenders page where you can use our filters - up to 12 - to help you decide which company to apply to so that you can make an informed decision as to which you would like to fund your loan.
Or, if you are still unsure about which company to apply with, why not make an application using our own LenderSeekers Matchmaking Service and we will match you to the Lender that best suits your needs? If this is what you would like to do, please APPLY HERE or use the button on the right.

*We do not charge you a single penny to use any of the Services on this website.
WARNING: Late repayment can cause you serious money problems. For help, go to www.moneyadviceservice.org.uk or call StepChange on 0800 138 1111.

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LenderSeekers.co.uk is your FREE Short Term Lender research website where you can make an informed decision as to which Lender you want to apply to using our truly comprehensive selection of filters.

LenderSeekers.co.uk  launched in March 2015 and was the first Payday Comparison website to offer a Comparison Tool with up to 12 filters!
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Payday loans: what you need to know

Firstly, Payday advances should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counselling and seek advice from organisations such as moneyadviceservice.org.uk
Are Payday or Short-term loans a viable solution?
What is a Payday or Short Term loan? It is a loan designed to be repaid on your next payday. It is usually a small loan and is typically deposited into your Bank Account on the same day. There has been much criticism in the Media in recent times and there has been very good reason for this; some Lenders were too robust and charged too much for their service. Happily, the Financial Conduct Authority has changed all that and has removed the worst offenders from the marketplace and is strictly regulating the remaining Lenders.

With this is mind: it is very important that you ensure you only make applications to registered and regulated Lenders, preferably members of a Trade Association such as the CCTA, for example.
With tightening budgets affecting many, Payday loans are increasingly seen as the solution – and they can be, provided they aren’t used every month to make ends meet.

Short-term loans should be seen as an emergency need to top up when an unbudgeted need arises and repaid as quickly as possible.

Choosing the right Lender.
To compare Payday Loans and/or Lenders is very important. When choosing a payday loan direct lender, it is important that you consider all of the benefits that lender may offer, but also the additional charges. For instance you may need to borrow £100 and one lender offers you the cash the same day but they may charge you £5 to process a faster payment to your account and they may deduct this from the loan amount, meaning you will only receive £95 and have to repay around £124. You may find another lender who will offer the £100 via a BACS payment which is free of charge if you can wait slightly longer for the loan your repayment will still be £124 but you would have received more.

APR rates can be misleading as they are calculated for borrowing over 1 year, when a payday loan is designed to be borrowed over - usually - one month. However, they are all relevant to each other and you will find the rates vary by many thousands of percent. Finding out which Lender is cheapest is where we can help you; our Compare Lenders page helps you identify which Lender or Loan will be cheaper for you.

We recommend ensuring you choose a lender that is signed up to the Good Practice Charter as you will receive fair and just treatment from them. You should also ensure the lender has a current Consumer Credit License, this number is usually at the bottom of the website.

Remember: Always Compare Payday Loans and Lenders (and Short Term Loans). We can show you established and new Payday Loan Direct Lenders, some Lenders will have no Credit Checks who will accept a Bad Credit History.

What happens if I cannot repay my payday loan?
Failing to make your payment on time will usually result in extra interest and charges being applied to your account. Most lenders will also look to take further steps, including legal action, if you continuously fail to meet your repayments or try to find a solution to the debt. The amount of the fees and additional interest varies from lender to lender, this should be clearly displayed on their website and it is your responsibility to ensure you have read and understood these charges. Generally, repayments on your loan are taken from your bank account automatically via a process known as Continuous Payment Authority (CPA) - this is an automatic debit from your debit card. Should you have insufficient funds in your account at the time the payday lender attempts to debit your account, you will incur additional charges. Additional charges and interest will result in your total balance due to increase - sometimes significantly.

Therefore, you must endeavor to repay your loan on time. Every payday lender operates differently and uses different methods to calculate late fees, default charges and additional interest.

If you discover that you cannot repay, contact the Lender that funded you immediately and discuss your situation with them, explaining clearly what has changed and offer your proposal for repayment under a Payment Plan.

If you are unable to reach an amicable solution, please contact moneyadviceservice.org.uk or any debt advice charity and discuss with them your situation; they will give you free and impartial advice.

How does a Payday Loan affect my credit score?
Currently, the majority of payday lenders report your borrowing and repayment history to the Credit Bureaus. If you continue to avoid a debt or fail to make repayments, this will reflect negatively on your credit score and you will find it more difficult to obtain further credit in the future. For relatively small loans, the implications of a negative report from a payday lender on your credit score can be severe.

Can I roll my loan over, or extend the terms?
Generally, we do not recommend rollovers or extensions. If you feel that you require more time to pay then you should contact your lender immediately. For the lenders that offer rollover options, you will usually be charged one months interest and possibly an extension fee. In some circumstances, lenders may automatically roll your loan over until you instruct them otherwise - you should check this within your payday loan terms and conditions. New guidelines insist that a customer cannot roll a loan over more than 2 times.

Do you have any advice or tips?
The best advice available is that you only ever borrow what you need, and not a penny more and that you repay the loan when you agree to.
It can be tempting to borrow more than you need, particularly with lenders that offer varying credit limits however you must remember that you have to pay it back - with interest.
If you take out a Short Term Loan and can pay it back early, do so because it will save you at least 0.8% in interest charges per day.

What are the alternatives to payday loans?
For the most part, people looking for payday loans are struggling financially with a bad credit History, often through no fault of their own.
This could be an indication that you need more structured financial help and you may find it more useful to speak to a debt support charity.
You should never take a payday loan out on a whim, you must ensure that you have fully researched the process and costs involved, and that you have exhausted all other means of raising the funds. Ask yourself now, 'Do I really need this Payday Loan?'

If you do, then speak to your family and friends first, everybody falls into some financial difficult at some point in their life and there is no shame in asking for help.