Best reasons to ask for a personal loan

And since July 2014 they cannot roll over your loan more than twice. Get help from a free debt adviser. If youre struggling with bills or finding it difficult to deal with a payday lender, contact one of these free, confidential debt advice services: The adviser will be on your side theyll help you get your debts under control and can negotiate with the lender on your behalf.

Tell your lender as soon as you start working with the debt adviser. Follow up your phone call with a letter you can use Whichs letter telling a payday lender that youre working with a debt adviser.

Once youve done this, your lender must give you a reasonable amount of time to come up with a repayment plan before using debt collectors. If they keep contacting you while youre working with the debt adviser, send an email asking them to stop.

Other points to remember.

Best reasons to ask for a personal loan

We do not control and are not responsible for the actions of any lender. We do not have access to the full terms of your loan, including APR. For details, questions or concerns regarding your loan please contact your lender directly. Only your lender can provide you with information about your specific loan terms, their current rates and charges, renewal, payments and the implications for non-payment or skipped payments. The registration information submitted by you on this website will be shared with one or more participating lenders.

You are under no obligation to use our service to initiate contact with a lender, apply for credit or any loan product, or accept a loan from a participating lender.

Cash transfer times and repayment terms vary between lenders. Repayment terms may be regulated by state and local laws.

Best reasons to ask for a personal loan

The majority of the lenders in our network do not intend to sell your debt to outside collection agencies. Instead, they will attempt to collect the debt in-house via telephone, email, postal mail or even text message. Similarly, they will not threaten criminal charges or sue borrowers; they will generally offer debt settlements over time instead. Every lender in our network is required to adhere to the Fair Debt Collection Practices Act, which protects consumers from being abused or harassed by debt collectors.

Lenders are within their rights to report your failure to repay a loan to one or all of the major credit reporting agencies - Experian, Equifax and Transunion. This negative record can be reflected on your credit history indefinitely until the loan is repaid in full. After the lenders receive payment in full, they can report it to the credit reporting agencies.

Best reasons to ask for a personal loan