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Can a direct lender provide guaranteed payday loans. Lets examine the difference between a direct lender and a broker. A direct lender processes your application and gives you money directly. In contrast, when you submit your application form to a broker, they sell it to direct lenders. They may even charge a fee for this.
The company that bought your application will then decide whether or not to lend to you. Our opinion: Borrow only from a direct lender. Not a broker. Guaranteed payday loan is a term that usually implies that you would need a guarantor to secure your payday UK loan.
To protect yourself and your credit history, make sure you only accept loan bajaj finserv lending personal loan application status that you can afford to repay. If you cannot make a payment on time, you should contact your lender immediately and discuss how to handle late payments. How Do Loans Work. Loan contracts come in many forms and have varied terms, ranging from simple verbal agreements between family members and friends, to more complex arrangements with lending institutions.
Lending institutions lend people money for significant items, such as a car, tuition, or home. Some may grant payday advances or personal loans for non-essential items. If you need money for an essential item or in order to make life more manageable, then its a good idea to familiarize yourself with how loans work.