Responsible borrowing
Using payday loans responsibly
A payday loan is short-term credit generally repaid around an income date. The short term does not remove the cost or repayment risk.
Check the next pay cycle
After the repayment is deducted, enough income must remain for the next month’s essential expenses and existing commitments. If not, the loan may shift rather than solve the shortfall.
Warning signs of a debt cycle
- Borrowing again to repay the previous short-term loan.
- Using credit every month for normal groceries or transport.
- Missing other essential payments after a loan debit.
- Applying to several lenders at the same time.
Use the documents
Review the total cost, repayment date and mandate information in the quotation and agreement. Contact support before the due date if you expect difficulty paying.