Repaying a short term loan in full after 30 days can occasionally make budgeting effectively for the following month difficult, if not impossible. For this reason, responsible lenders like Uncle Buck offer potential customers the option to spread the cost of such a loan over three months (91 days), as opposed to over 30 days (it should be noted here that this offer is subject to status/ affordability checks). So what does this actually mean to you as a customer?
Essentially, short term instalment loans like the Trio Plan offered by Uncle Buck, for instance, mean you can spread repayments, making it much easier to cope with instalments, rather than having to find one large lump sum after 30 days. For example, if you were to take out a 30-day payday loan over £300, you would have to find a total of £372 by the agreed due date. With our Trio Plan, you would be required to make three monthly instalments of just £152.71 instead.
The Advantages of Our Product
While spreading your cost over 91 days (three months) does increase your overall repayment (you will pay £458.13 in total), each individual instalment is far more affordable than paying a single lump sum. In other words, it will be far easier for you to make the repayment on time without leaving yourself open to the risk of running out of funds again before your next payday and having to take out another loan to cover the subsequent shortfall. More affordable repayments also make it less likely for you to default on your payment, reducing your risk of increasing your debt rather than reducing it.
Failure to make payments by the due date will incur late payment charges and additional interest. It is therefore of vital importance to ensure you can afford to pay the necessary instalments on time. Should you have any doubt that you can meet your obligation to pay by the due date/s, you should explore other options of dealing with your financial emergency.
Give us a Call
For more detailed information on our payday loans and the Trio Plan, please contact our helpful call centre agents on Tel.: 01959 543 400 (Call charges may vary depending on your phone provider. Calls may be monitored for security and/or training purposes).