All loan companies expect payday loans to be repayed by the repayment date and if that promise is kept then there will be no other charges. The only time you will incur a charge is if repayments are not made on the date specified in your loan agreement, if funds cannot be recovered then a missed payment fee could be applied. Interest will continue to accrue until your loan is repaid. If after 60 days the loan is still outstanding and no agreement has been made, your debt could be passed to a debt collection agency. Please be aware that failure to repay payday loans, could affect your credit rating with external credit reference agencies (CRAs) and could lead to credit blacklisting.
Non repayment will ultimately result in debt collection agencies recovering the debt, so we do not recommend using our service or the services of lenders on this comparison table, if you do not intend to repay or think that you may have trouble in repaying your loan, so please think very carefully before you apply.
Payday loans can be renewed, there is no cost to renew your loan , however, you must pay the current outstanding interest in the loan in order to renew. Interest will continue to be calculated daily ay 0.98% until the loan is repaid.
At moola what you see in your payday loans illustration is what you get, no sneaky charges or early repayment penalties, guaranteed!
Moola have a zero tollerance on cold calling we just dont do it, we will only contact you if you ask us to or if we need to verify your identity for your loan application.
Moola will only contact you to facilitate your payday loan request, you will never get any annoying emails or offers from moola. We will only contact you, if you specifically ask us to.
Moola values your time, which is why we have made our payday loans application process as fast and convenient as possible.
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