About Us

Why this website?

All Payday Lenders image logo
I used to work for a direct payday lender and was collaborating with some brokers. Even though most of them were treating people fairly, some of our customers experienced some issues with a few of those (causing our agreement to be cancelled since that was a breach of our agreement).

The main issue was that some people were charged a brokerage fees (up to £69 sometimes) for a simple registration and referring people to us. Even though this fee was clearly stated in their Terms and Conditions as well as on the credit card details page (in small font), it is obviously an unfair fee.

This is one of the reasons why I created this website. I wanted people in need for a payday loan to avoid applying through a broker and being charged unfair and/or hidden fees when their financial was already problematic.

The other reason and the objective of AllPaydayLenders.com is to make it easier for people to identify direct lenders, compare them via an unbiased source and make an informed choice knowing precisely all the costs and fees associated with the chosen lender.

All Payday Lenders is a trading name of Techkredit Ltd.
Interim Permissions reference number: 0650109.

Why Avoid Brokers?

In some cases brokers can be convenient. For example, you do not have to fill in a dozen of different forms for each lender but a unique application and the broker will communicate in real time with its panel of direct lenders to redirect you to one which would potentially approve your application.

Even though this system works fine for thousands of borrowers every day, it can cause you some issues:

1) You do not choose the lender: you complete the broker's form but you will never choose the lender. They will run your application through their panel of lenders (basically it is a system of bids) and will redirect you to the lender that will pay for your application based on the list of criteria you gave. So you have no idea where you will end up... Is that a good thing? No, since you lose all control.

2) They choose the lender based on a monetary optimised engine: they do not help you find the loan that you need but they send you to the lender that will give them the most money.

3) Brokers are hiding their real nature: without experience of the sector it is really not easy to identify who is a lender and who is a broker. Their websites are often similar to direct lenders, presenting a slider to choose the loan amount and term and close to it an 'apply' button. How can you make the difference?
A few tips:
- at the very bottom of the page you will find such things: 'CashLady is not a lender but is a licensed credit broker'. This is clearly a broker.
- read the main page and look for such phrases: 'all of the above varies between lenders' ; 'This may vary from lender to lender'. If not on the homepage, it might be somewhere in the 'About us' our 'FAQ' page.

4) Some brokers charge unfair fees: you will easily find some of these stories on online forums. Some brokers charge up to £69 for a simple registration.
 
5) You don't know what will happen to your data: if you think about it you actually gave those brokers a lot of sensitive information such as: address, email, phone number... giving them a lot of opportunities to harass you with emails or text messages. An example taken from a broker's Privacy Policy: 'while we will do our best to protect your personal data, in line with industry standards, we cannot guarantee the security of your data and any transmission is at your own risk'.

Besides, they run your application through their panel of lenders. That means every single lender they work with can potentially steal your data. Also, some brokers do resell your data to third parties.

6) They will resell your application: if no lender in their panel accepts your application, it will most of the time be resold to alternate offers, and this is not a nice term.


So why would you even consider applying through a broker when you have such websites as AllPaydayLenders? Compare, choose the loan you need and keep control of your finances.

If you have any doubt whether you are about to apply on a broker's site, do not hesitate to drop us an email. If you discovered a direct lender that offered you a great service and that is not listed on this site, you can also let us know.

Read more about why the OFT is failing and what is really wrong with the payday loans industry.