We want to make applying online for a payday loan as simple as possible. Sure you'll have questions on how it all works and what you need to have to be eligible so to help with that we've put together the most commonly asked questions. If you still have a question then please feel free to contact us by email at info@uncle-buck.co.uk or phone at either 0845 873 9985 or 01959 543400.
Calls are charged at 5p per min from a BT landline. Calls from a mobile or other networks may vary.
What is a payday loan?
A payday loan is a small cash advance so you can have fast cash when you need it. Our payday loans are repayable on your next payday – up to 31 days away. It is an easy way to borrow instant cash for those who don´t want the formal and lengthy loan agreement with a bank.
What can the loan be used for?
A payday loan is simply a cash advance which should only be used as a short-term solution to a financial emergency.
How much can I borrow?
New customers can apply for a payday advance between £75 and £400. Providing you use our service responsibly and make payments on time, existing payday loan customers will be offered a pre-authorised limit up to £1000 subject to assessment and affordability.
What do I need to get a payday loan?
To get money till payday you need to be over 18, be a UK resident, currently employed and have an active bank account with a debit card on the same account. We do not accept pre-paid or credit cards.
I have a poor credit rating – can I still qualify for a payday loan?
To qualify for cash until payday you need to be able to satisfy us that you will have sufficient funds on your payday to repay your payday loan. We recognise that financial mistakes can happen and we take a broader view on your overall ability to repay.
How long does it take to get the money?
Uncle Buck´s payday loans take around 1 hour from receipt of the application, during usual business hours, if you have selected Faster Payment. If you have selected payment by BACS then you should have the funds available in your account within two working days. It’s important to note that once we have sent the money it is down to your bank as to when you have access to it, to be sure you will need to speak to your branch.
Please note We are now able to make Faster Payments 24/7/365 and increasingly are opening for business outside of usual hours, including late nights Thursday and Friday and some Saturdays. Please contact us for further information.
How do I get my money?
The funds of your cash advance are electronically transmitted and are cleared into your bank account within minutes. You can select to have funds paid the same day for which we make a £15 charge, or if you select our two day payment option the money is transferred without charge. Please note that some banks may take longer.
Do I need to fill in an application every time I need a payday loan?
As an existing payday loan customer you don´t have to fill in an a complete application every time you need a cash advance but we do ask you to verify information previously supplied and you are required to notify us of any changes.
Do I have to repay the payday loan in one go?
You should always try your best to repay in full your payday loan on the agreed repayment date. In some circumstances we may permit you to refinance your loan by paying the interest and deferring repayment of the capital sum. However, this is only allowed at our discretion and is subject to our assessment of your creditworthiness in accordance with the Irresponsible Lending Guidance issued by the OFT. It is important to understand that when you defer payment of your loan in this way you are not paying anything off the loan amount, simply rolling over your full repayment until the next month and this will mean you will end up paying more.
Can I pay my payday loan off in installments?
A payday loan is designed to be paid off in full on the repayment date. However, if you think you are going to have difficulty paying off the loan in full, please contact us before your repayment date and we may be able to arrange an alternative payment plan.
Can I cancel my payday loan?
Yes, you can withdraw from your agreement within 14 days of you signing the loan agreement by contacting us either by post, email or telephone. You will then need to repay the loan straightaway plus any interest that has accrued up until the day the payment is received.
How do I repay my payday loan?
Your loan will be collected from your debit card on your next pay date. You will need to make sure that the total amount due is available in your bank account, if we cannot collect the amount on its due date there may be additional charges applied and recovery action will commence.
Can I have more than one payday loan?
Provided you are within your pre-authorised credit limit and subject to our assessment of your circumstances and affordability, you may have more than one outstanding loan. The total amount of these loans will fall due on your next payday and you should ensure sufficient funds are available to meet the repayments.
What if I fail to repay my payday loan?
It is important that you inform us as soon as you think you will not be able to repay your payday loan on time in order to avoid legal collection procedures.
The most important things to remember are:
- If you think you will not be able to repay the loan in one go, don’t apply in the first place
- Communicate with us honestly and we will do our best to help you.
You should also be aware that failing to repay on time will have a negative impact on your credit score as we provide payment performance information to credit reference agencies.
If you are having problems making a payment please contact us either at 0845 873 9985 or 01959 543400 and we will be happy to discuss your payment options with you.
Do I have to send in documents?
We will try to approve you without requesting any paperwork but if we are unable to do so we may require supporting documents in order to proceed with the application.
Telephone:0845 873 9985
Email: info@uncle-buck.co.uk
Calls are charged at 5p per min from a BT landline. Calls from a mobile or other networks may vary.
