Warning: Late repayments can cause you serious money problems. For help, go to moneyhelper.org.uk. We are a broker not a lender.
Warning: Late repayments can cause you serious money problems. For help, go to moneyhelper.org.uk. We are a broker not a lender.
Jul 16, 2018
There are two scenarios wherein you may have to reapply for payday loans. The first scenario is if and when your application gets turned down or you don’t find any quote acceptable, given your specific needs. When you apply for payday loans through Sure Money, you would get plenty of offers. However, there are instances when lenders find some applications ineligible for payday loans. You would have to reapply for payday loans in such a situation if you don’t have the option of applying for other types of short term loans. The other scenario wherein you may want to reapply for payday loans is when you need some more money. This could be whilst you are repaying a loan or after you have repaid a loan completely.
If your application did not lead to enough quotes and you are yet to get a loan, then you can reapply immediately. Chances are your application will not generate enough quotes as the details would still be the same and the grounds for rejection or ineligibility would remain unchanged. If you have got a loan, then you can reapply again when you need some money. There is no timeframe in this case. You can apply at any point in time. But it is better if you repay the existing loan completely before you sign up for another. Once you have repaid a loan, you can apply for another immediately. You may choose to go with the same lender or you may consider other lenders.
Sure Money always advises against excessive borrowing. You can sign up for multiple payday loans as lenders don’t really share the details of who they are dealing with in real time. They only report debts or loans that are not paid. Signing up for multiple loans at the same time will make borrowers vulnerable to bad debt, which is never prudent, financially or otherwise.