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Can I use a payday loan to pay my utility bills?

03rd November 2021

When life doesn’t go to plan and causes cashflow shortfall, it can be tempting to use payday loans and instalment loans to pay priority bills in emergency situations. Of course, using any type of credit will depend on your circumstances and your financial situation. So, how do you know if you should use short term loans to pay your utility bills?

WARNING: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Multi Month Loans

How much would you like to borrow:

£200

£750

How long would you like it for?

3 months

6 months

Your monthly repayments are:

Total amount to be repaid:

Annual percentage rate:

New Customer

Representative Example: £200 loan for 6 months at a fixed interest rate of 290% pa. Total amount payable is £355.99 in monthly instalments of £65.11, £78.35, £64.05, £58.76, £48.16 and £41.56. This is based on the amount of credit plus interest, no other fees apply. Representative 1266.2% APR

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Can I use a payday loan to pay my utility bills?

How much would you like to borrow:

Your monthly repayments are:

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