Responsible Lending
MEM Consumer Finance Ltd is a responsible lender
- MEM Consumer Finance Ltd is committed to responsible lending
- Our charges are fixed and there are no hidden extras - so you know how much you will repay at all times
- Most of all, we will not lend you money we do not believe you can pay back
- We follow all Consumer Credit and Data Protection Act guidelines to protect you, your personal information and provide you with understandable legal agreements
- We work to "Know Your Customer" guidelines, meaning we will not advance a loan until we have taken all reasonable steps to confirm your identity
- We recommend against repeat deferrals and encourage you to pay off as much of the loan as possible at all times
Is a payday loan right for me?
A Payday Loan is right for you if you:
- Need money quickly to pay for unexpected bills
- Are struggling with bills this month but are usually fine
- Need to pay for a DIY man to help fix problems at home before payday
- Have seen a great offer and just can't risk waiting till payday
- Whatever yopu need money for in the short term
We don't advise taking a Payday Loan if you:
- Usually have financial problems, every month, as a payday loan can only help with short term cashflow problems
- Can't repay your loan on Payday
- Need to borrow more than £750
Be a responsible borrower
Although we do everything we can to be a responsible loan provider, you know your circumstances better than anyone. So, before you apply, ask yourself:
- Will a payday loan really help me?
- Will I definitely be able to pay it back in full next month?
If the answer is “Yes” to both these questions, then a payday loan is the right product for you.
- Do I have longer term financial problems?
- Do I need a long term solution?
If the answer is “Yes” to these questions, a payday loan is probably not the right product for you.
What is the minimum I really need?
Try not to borrow more than you need – this way you will keep you repayments more affordable.
Not sure? Phone our customer services team who will be happy to help on 0871 550 0076.
