This is a requirement according to the government. You are not considered of age and eligible for the loan if you are below that age. A steady source of income is a must. Of course, this is important for the repayment of the loan. How will repayment be possible if you have no job. Your monthly income must not be less than £1,000. If your income is less than this, payment may be difficult after paying for house maintenance, your personal expenses, and tax.

What can you not use a personal loan for

The result of their paperless principle is a more convenient what can you not use a personal loan for comfortable processing. The range of loan on Paperless Payday Loans is £100 to £1,000. If your situation is very critical, some companies may consider lending you more than the regular limit. Averagely, the loan amount is between £200 and £500, and you can specify the amount you want while applying for that loan online based on your income.

Of course, it follows the same payment trend. Any failure to meet the loan deadline will lead to the extension of your loan period. The extension will attract a higher fee. In some cases, the lender may accept the fee and renew the loan if you cannot pay the loan and the fee according to the agreement. Anybody can take advantage of this loan option to get out of an unexpected financial mess if the person meets the basic requirements which include that the person must have a computer system and access to the Internet.

Apart from that, the required minimum age of 18 must be satisfied as well as a minimum monthly income of £1,000.

What can you not use a personal loan for

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What can you not use a personal loan for