At Wizzcash, we understand all too well that when your circumstances change suddenly and you find yourself in dire need of a £1000 loan, it can be really difficult to know where or who to turn to. There are a lot of options out there in today’s market when it comes to sourcing yourself emergency funding. We are a payday loan lender and we can provide a flexible amount of money in a short space of time, should your application be approved. Learn more about payday loans from Wizzcash so that when the time comes you can make the right decision for you and for your individual circumstances.
£1000 Payday Loans From Wizzcash
Here at Wizzcash, we provide £1000 loans to individuals who find themselves in sudden need of money. Loans that total £1000 have become commonplace on the market today and there is no shortage of lenders offering this service. We will always recommend that you research your options extensively so that you can find the right deal and the right term for you and your circumstances.
Taking out a £1000 loan is no small matter so make sure that you are able to pay this back in full. If you can resolve your situation with a slightly lower amount, £900 for example, then it is good financial practice to apply for this lower amount.
What Can You Spend Your £1000 Loan On?
You can spend your loan amount on whatever you wish, we do not place any restrictions on this however we strongly recommend that you only use your £1,000 loan to resolve a financial emergency as Payday loans are not a long term solution for financial problems. Examples of financial emergencies are as follows:
- Unexpected bills that you haven’t budgeted for, such as those accrued when you switch energy service providers
- Home repairs that would cost far more than your monthly budget could stretch to accommodate, for example if your roof develops a leak and needs a repair
- Emergencies concerning the family pet
Your £1000 Loan Application
Here at Wizzcash, we have made the application process simple and easy to complete. We only require the information from you that we need in order to process your application and the entire application should take you a few minutes to complete. Once you have completed your application process and submitted it to us, we will run our internal checks and let you know our decision as soon as possible. If you are approved for a £1000 loan, then we are able to send you the funds and deposit them into your bank account the same working day.
Would A £1000 Loan Application Involve A Credit Check?
A £1000 would involve a credit check. In fact, if you apply for any loan amounts through us here at Wizzcash, as part of our process we will run a credit check as part of your application.
Wizzcash Eligibility Criteria
We have made sure that our eligibility criteria is fair and in line with responsible lending best practices. In order to apply:
- Our applicants must be a minimum of 18 years of age
- Our applicants must be a UK resident
- Our applicants must be in some form of employment and take home a minimum of £750 a month
Further to our criteria, we also run a series of checks that are themselves designed to assess your eligibility for a £1000 loan:
- An employment check – we run this check to make sure that you are indeed in some form of employment
- An affordability check – we run this check to make sure that you can afford to pay back your loan amount, plus the interest accrued on the loan itself
- A credit check – we run this check in conjunction with credit reference agencies, this allows us to garner a strong understanding in regards to your loan suitability
£1000 Loans And Your Credit Score
If you meet your repayment obligations consistently, then this might actually have a positive effect on your credit score. If you default on your loan or repay your monthly sums late, then this can have a negative impact on your credit score.
Your Loan Repayment Dates
We will make sure that you are aware and up to date with all of your repayments. Furthermore, we will give you reminders of upcoming payment dates so that you have time to prepare financially for your repayment. This contact will take the form of a text and/or an email. We take all of our repayments automatically, so there is nothing to worry about in regard to manually setting up these payments.
I Am Worried I Won’t Be Able To Make My Repayments
At Wizzcash all our loans have 3 equal monthly instalment plans in place. We believe that this provides flexibility when it comes to repaying your £1000 loan. It is important to remember that non-payment, late payment or incomplete payment of your loan can have serious financial implications as well as implications for future applications for credit.
As a responsible lender, we always do everything we can to provide you with assistance regarding your £1000 loan. We are not able to offer rollovers or renewals, however we may be able to come to a more favourable arrangement regarding a new repayment plan should you find yourself in a serious financial situation. Missing a scheduled payment will incur a one-time default charge of £15. Interest of 0.8% a day will be added each day until a payment is received, however, once 60 days have elapsed since the scheduled payment date the interest will be frozen.
What Is APR?
APR, or Annual Percentage Rate, represents all the fees that are added to your loan repayment amounts inclusive of interest.
Choosing Your £1000 Payday Loan Lender
As previously stated, there are many loan lenders out there today, so choosing the right lender has never been more important. You should make sure that the lender you choose is fully FCA regulated.
You want to make sure that your lender is contactable, forthright and transparent about all of their contact details. This means that should you need to contact your lender then you have multiple means of doing so.
We want you to be able to make an informed and a fully educated decision. If you would like to learn more about us, then we suggest you have a read of our about page.