Nothing stays the same with payday loans and lending rules. A customer who may be approved for a loan on a Monday may then be refused a loan from the same lender on the next Friday with apparently nothing changing in-between.
From an outsiders point of view, this may make no sense at all but behind the scenes a number of factors all consipre together to make things like this commonplace. A lender may have more money to lend at the beginning of the month than at the end and may be waiting for a good proportion of loans to be repaid before it is able to lend easily again. The lending rules may get tighter with less money available to lend and so the same customer may be approved one day and rejected the next or vice versa.
Payday Power works with around 15 Payday Lenders in the UK and so with one application, it is possible to maximise your chances of getting approved for a payday loan and if at first you don’t succeed try again a few days later as you never know, the rules may have changed.
