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Responsible Lending

Responsible Lending

At My Quick Loan, our commitment to responsible lending is unwavering. We strive to ensure that any online loan you apply for is within your repayment capacity. We urge you to only apply for a loan that is comfortably repayable and to thoroughly read the loan agreement’s terms and conditions.


Our loans come with minimum repayment terms of 3 months and a maximum of 36 months. Depending on your individual circumstances, lending rates range from 9.3% APR to an upper limit of 1294% APR.


Should you face difficulties in making a payment, please reach out to the lender directly.

In case the issue persists, the lender may hold the right to transfer your information to a third-party debt collection agency.


We always advise sticking to the agreed repayment schedule. Each lender sets their own policies concerning fees, interest, and methods of collecting unpaid debts. Typically, they will reach out to you via phone or letter to rearrange payment.

Failure to pay may lead to additional charges and/or increased interest. We recommend contacting your lender promptly if you anticipate a payment issue, as this may impact your credit history.


Automated decision-making enables lenders to process your loan application without human intervention.


If you foresee difficulty in meeting your repayment deadline, you should get in touch with your lender without delay. Lenders may impose a late payment fee, which can range between £1 and £100, depending on the lender. For more details, please refer to your loan agreement’s terms and conditions.


If you’re considering renewing your loan, it’s essential to communicate with your lender beforehand. Most lenders apply the same interest rate and fees for another month on the total amount due. In case of non-payment, a loan renewal/extension may be automatic, and additional interest and/or charges may be added to your account.

Please bear in mind that loan renewal is not advised if you’re having difficulty meeting repayments on your existing credit. If you are struggling or unable to meet your contractual repayments, you should contact your lender immediately. Also, consider seeking independent, free debt advice.


If you’re contemplating consolidating your current debts, note that your new loan might carry a higher interest rate, extend over a longer repayment period, and increase the total amount repayable.


Warning: Late repayment of payday loans can cause you serious money problems. For help, go to