What to Do If You Need a £4000 Loan
If you need money desperately, it can be really tricky to know what to do. We can get in a big panic and worry about it so much that we make very poor decisions. It is wise to start by trying to think logically about our situation and make sure that we are not acting in a panicked manner. This can be helped either by future planning so you know what to do to help the situation or by trying to work through things methodically. It is not always easy to do this on your own but having someone to help you can be a really big help. Whatever method you choose, it is a good idea make sure that you take some time to make sure that you make the right decision for you and choose the best of the £4000 loans that you can.
How much would you like to borrow?
Representative Example: Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).
Get Some Help
The first thing that you should be thinking about is where you can get help to make the decision. There are lots of payday loans without a credit check to pick from and if you do not pick the right one then you could regret it in the future as you could end up paying more than necessary or not getting such a good service as you had hoped for. Therefore, it can be wise to find help. There are different places that you can get help from and below is a selection of them. This is not an exclusive list though and so you might have others that you would like to add to it as well.
- Friends and Family – It can be really handy speaking to your friends and family about their experiences of borrowing. There will be very few people that have not experienced borrowing and therefore you should be able to find out a lot from them. The advantage of speaking to people you know is that there is no chance that they will be biased when they are helping you. When you look online or speak to a professional, there may be various reasons why they may not put your interests first, but your friends and family will. It is therefore well worth finding out all about their borrowing experiences and seeing if they have anything, they can pass on to you with regards to things they learned as well as lenders they liked. Find out, not only who and what they liked and disliked but also their reasons why. This will enable you to be able to decide whether you agree with them. For example, they might say that they did not like a particular lender because they had to contact them online. For you, you might be looking for one you can contact online so their disadvantage will actually be an advantage for you.
Even if your friends and family cannot help you with advice, they might be able to help you with choosing a loan. If you are in a panic and not thinking clearly they might be able to help you to think about what you want from a loan and lender and whether different ones match up to your requirements.
- Websites and Blogs – You will find that there are many different websites and blogs online where you will be able to find out about all sorts of financial products including little loans. These can be very handy as they will give you all sorts of information and you will be able to decide whether you like the sound of various loans and lenders. They are unlikely to cover every type of loan and certainly will not have the capacity to discuss every lender, but you will be able to get a good idea of what is available and what might suit you. It can work as an introduction to what might be available but you may need to look into some aspects in more detail. It is also important to make sure that you are looking at trusted websites. This is because there are all sorts of people posting online and some know more than others.
- Financial Advisor – A financial advisor will be very experienced and know all about £4000 loans and be able to let you know which will be the most suited to your needs. However, you will need to think about whether you think that it is worth doing this. The financial advisor will charge you for their advice and this will be a fixed hourly rate. It is good to find out how much this will be and think about whether you think that it is worth it. It is worth thinking about how much the loan will potentially cost and whether you think that you will be able to save more money than the cost of the financial advisor if they can find you something suitable. Of course, cost should not be the only aspect you are considering, but if you have to pay a significant amount of money for the financial advisor, you will need to be confident that they will be able to offer you good value for money.
- Credit Broker – Credit brokers such as Boutell can help you with all sorts of borrowing including £4000 loans. They will take some information form you and then match you to a suitable lender. They can be a very quick way of finding a loan and so if you are in a hurry and have no time to do any research yourself, they can be a useful solution. You will be able to find them online and they will be able to very quickly make a recommendation to you so that you can apply fast.
- Comparison Websites – There are comparison websites for many things including loans. You will be able to put in that you are interested in £4000 loans and you will get a selection of results which show you lenders and their costs. This can be useful if you are only interested in comparing lenders by cost. However, it is wise to consider whether cost is really the only thing that you are interested in as it probably is not. It is important, for example, to think about how easy you will find it to be able to manage the repayments, how much you like the lender, their reputation and things like that. It is also worth being aware that comparison websites take commission on the lenders they recommend. It is therefore likely that they will only have lenders listed on their website that pay them a decent amount of money and there may be others that fit your requirements better but are not there. It can help a bit to look at more than one comparison website but you might want to use other methods as well. You also need to think about the fact that there will be some lenders that are not on comparison websites at all and only deal directly with borrowers.
- Review Websites – There are websites which will review different lenders and loans and you will be able to find out from them which might be the best. There are problems with these websites though. Firstly, what the author thinks is a good factor about a loan or lender may not be what you think is a good thing and therefore make sure you find out why they like a dislike a potential lender. They may also be biased as they may tend to recommend the lenders which pay them the most commission on leads rather than the ones that are really the best. They might also recommend lenders which do not have £4000 loans available and then you will not be able to find one that will be useful to you.
So although it is really wise to get help when you are looking for payday loans for bad credit, it is wise to be cautious. You need to be careful about the sources of information that you are using, thinking about whether they might be biased or whether they might be useful to you. Make sure that you have a good idea of what you want from your lender and loan and then you will be able to more easily match up with this. Do be open minded though and be prepared to change your mind. This is important because as you do your research you might come up with ideas of new features that you would like from the loan or you may just think of additional things and so make sure that you add them to your list of requirements. It is wise to keep aware and make sure that you are getting exactly what you want. It may seem like a big hassle and very time consuming to do this but it is worth it if it means that you can get a really suitable loan for the £4000 you need rather than just picking the first one you come across which could be too expensive or unsuitable in another way.