Taking out a loan is never a decision to make lightly. Regardless of whether you intend to go with a long term or short term option, you always have to make sure that you can afford to make the necessary repayment in full by the agreed due date.

Failing to make Repayments

You should also be aware of the fact that if you fail to meet your repayment requirements, you are likely to be faced with having to pay extra interest; late payment fees and other administration charges. Depending on the circumstances, you may also end up facing legal action and subsequent legal costs.

Regular Loans

Regular, long term loans typically involve larger amounts and repayment periods ranging between a few months and several years. As such, they are often taken out to pay for holidays; a new car or other, perhaps more frivolous purchases. Unfortunately, changes in your financial situation (illness; being made redundant, etc.) could at some point leave you in a situation where you can no longer afford to make your regular repayments.


Payday loans direct lenders are designed to cater for unexpected emergency expenses between paydays. Such emergency expenses may, for example, consist of having to replace or repair household appliances or your car; having to pay an unexpected vet bill, or to ‘tie you over’ if your expected regular pay is delayed for some reason. Typically not exceeding the amount you actually require to cope with your financial emergency, payday loans usually have to be repaid within a matter of days or weeks at most. As a whole, short term loans are more manageable, because there is less chance of your financial situation changing dramatically and making repayments unaffordable during this period.

Making Decisions

When considering a loan, it is therefore essential to consider the following factors:

  • Do you really require a loan or can you resolve the situation by budgeting more effectively?
  • Which type of loan (long term or short term) is most suitable for your requirements?
  • Can you afford to repay your loan on time?
  • What are the risks of making late payments?

Last, but by no means least, make sure you know exactly what to expect by only taking loans out with reputable, responsible lenders who will make all their terms and conditions clear to you from the moment you first enquire about the possibility of taking out a loan.


Here at Uncle Buck’s, we take pride in being totally transparent and honest with our customers. This includes providing you with exact figures, details of our terms and helpful advice from the moment you first get in touch with us right up until you repay your loan. If you believe a payday loan is the right choice for you and you have the ability to repay your loan on time, contact us via Tel.: 01959 543 400* to discuss your requirements today.

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