Can I borrow more than one Emergency Loan at the same time?

Emergency lenders, such as payday loan providers, will usually limit a borrower to one of their emergency cash loans at a time. However, once repayment is complete, you may apply again for a second loan. Emergency lenders don’t recommend doing this unless it’s absolutely necessary. Rather than getting into a situation when you need money now, it’s far better to budget your cash rather than taking on payday loans to take care of normal spending, as this can lead to bad credit situations. If you need emergency loans on a regular basis, it’s important to take steps to control spending and deal with your ongoing credit issues. There are numerous agencies available to assist borrowers overcome budgeting issues and reduce their reliance on loans.

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Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative APR 1,267.9%. 

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Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.