Welcome to Magic Lend.
Find out how you can get payday loans from one of the fastest growing payday brokers, Magic Lend. We are brokering Payday Loans to our clients. The lender panel is comprised of a number of top uk lenders. This makes it very likely that your loan will be approved. As long as you have a job that pays you on a regular basis, you are eligible to apply for a payday loan from us. Payday loans from £100 to £1000 can be approved instantly if you apply online. At Magic Lend, we understand your urgent need for cash to overcome unforeseen financial crisis. We keep the application process short and simple.
Applications are carried out online. Upon your acceptance of the terms and conditions relating to your payday loan, the loan amount will be transferred by the lender who approves your loan to your bank account. Magic Lend is one of the most trusted and responsible payday brokers. We practise open communication with our customers. We do not charge our customers a fee for this service.
Thank you for choosing Magic Lend.
What are Payday Loans ?
- A payday loan is an unsecured loan that provides a fast and simple solution to short term funding.
- Payday loans should only be used when truly needed, such as in emergency financial situations. They are not a solution to long-term debt problems.
When it comes to loans people need to be responsible. Read on to find out some common information about responsible borrowing. The first thing you want to do when applying for a loan is to make sure you can afford to repay it back. It is also a very good idea to read the entire loan agreement before you make the decision to take the loan out. Also, before you take out a loan you will want to take a look at the collections process, as well as what can happened when you make a non-payment or a late payment, as well as the loan renewal policy.
The Collections Process
You should contact the lender right away if you are experiencing problems with making a payment, as this will allow you to discuss the different payment options available to you. If the payment situation is left unresolved, then your information may be passed onto a third party collections agency.
The Implications Of Not Making A Payment
It is always recommended to pay back a loan on time, but if you are not able to pay back payments on time, then each lender will have their own policies regarding fees and interests, and how they will go about collecting debt that is outstanding. The lender may also call you on the phone or contact you via a letter to try to rearrange a payment/payments. A non-payment may result in higher interest rates or extra charges. If you know of a problem, then you should contact your lender as soon as possible, because if you don’t, then it may go on your credit report.
If you fail to make a payment on time, but you still make a payment after the due date, then you may be charged a late payment fee. The amount you will pay will depend on the lender. You should read the lender’s terms and conditions as all of the fees related to late payments are listed right there.
The Renewal Policy
You may want to renew your loan, and if you do, then you will want to contact your lender before you decide to renew it. Some lenders may end up charging you fees for another month, which will be on the entire amount that is owed. A loan renewal or extension may be automatic if you do not make a payment (non-payment), which could also result in more charges to your account.