Christmas time can be expensive, and many people will be looking to take payday Christmas loans to cover their expenses. You can apply with Quick Loans Express and receive cash on the same day if approved.


But do you really need a payday loan this Christmas? In this article we’ll examine the issue from several angles:

Story Highlights:

The pressures of expensive Christmas holidays
An angry mother vents on Facebook
Doorstep lenders
Pressures to take on payday loans
What makes online lenders different
Stricter credit checks for borrowers
Predatory marketing tactics
Thinking carefully before taking Christmas loans

Christmas Loans – Are Families Pressured to Take One?

During the run-up to the winter festivities, many parents come under financial strain. They wonder how they’ll fill their children’s stockings with the gifts they’re hoping to unwrap on Christmas morning. High inflation and widespread pay caps mean that people’s wages don’t stretch as far as they used to. Unfortunately, many families will turn to payday Christmas loans to see them through the holidays.

Loans for Christmas: A Mother Vents Her Anger

As Christmas approaches, doorstep lenders are getting ready to supply their high-interest Christmas loans to people in need. Doorstep lenders offer same day loans with no guarantor with exorbitant interest rates. Kez Dancy, a council estate resident in Somerset, was furious when the FIFTH payday loan leaflet landed on her doormat. She voiced her anger on facebook and accused doorstep lenders of preying on low-income families who live on council estates. She knows many people who have fallen prey to these predatory lenders. Consequently, they are still paying back loans with very high interest rates from last year.

Who Are Doorstep Christmas Loan Lenders and What Do They Offer?

Ten million people in the UK do not have a good enough credit score to get loans at reasonable rates. Many of these people still need loans to cover expenses, and doorstep lenders offer them a quick yet costly solution. These bad credit quick loan style companies use sales agents to offer and collect loans from people’s doorsteps. These agents often live in the communities which they serve and form close bonds with their customers. Officially, the borrower has to invite them to their home, and lenders cannot offer loans to people while collecting repayments. However, there have been reports that doorstep lenders often sidestep these regulations against the customers’ better interests.

Do Not Give Into Pressure For Christmas Loans

Doorstep lenders form close relationships with their clients, so they know when to put pressure on their customers. Many customers share their troubles and woes with their doorstep lender, which provides them with valuable information. For some people living alone, their doorstep collector may be the only person who comes to visit them.

They know when their customers need the money and often use pressure tactics to urge people to take out loans irresponsibly. Many of their customers cannot really afford more debt, yet the lender will talk them into borrowing more money. Doorstep lenders work on commission so they try to sell their loans whenever possible, even when harmful to the customer.

Many companies use predatory tactics to gain more customers.

In a recent interview with the Sun Newspaper, Kez Dancy hi-lighted the predatory lending that companies practice in poor areas. This shows the lengths that some payday loan style companies will go to sell their wares. Quick Loans Express is a UK based, FCA authorised instant payday loans direct lender. We do not advertise on TV or in newspapers using cute characters to paint a rosy picture of payday loans. We design all our Quick Loans Express advertisements to be transparent and easy to understand. Putting leaflets in people’s letterboxes is a marketing strategy that a responsible lender like Quick Loans Express would never consider.

How Are Online Payday Loan Lenders Different from Doorstep Lenders?

In 2015, the Financial Conduct Authority clamped down on unscrupulous payday loan companies and began strictly regulating the industry. The FCA capped the interest rates and fees that payday lenders charged, protecting the customer from racking up infinite debt. Now, the maximum that a borrower needs to repay is twice the amount of money that they borrowed, even if they missed payments over a long period. The FCA also tightened their lending criteria, which meant that many people no longer qualified for online payday loans.

What high-interest credit can I turn to?

The FCA caps have made the payday loan industry much more respectable. The lenders who wished to continue lending had to comply with the strict regulations, all designed for the customers’ safety. The FCA pushed out payday loan companies who did not wish to comply, and only respectable lenders remained in the business. Before the industry was regulated, roughly 10 million people used expensive payday loans, many of whom could not really afford them. With the new regulations, only 1 million people now qualify for payday loans. These guidelines protect customers from taking out loans they cannot repay and help them avoid financial ruin.

Need Christmas Loans? Proceed With Caution

Unsecured short-term loans are an expensive way to borrow money. Because lending to people with poor credit history is risky, payday loans charge more to cover the risks.

Moreover, it is essential to consider if you truly need to borrow the money before taking a payday loan. Everyone loves giving gifts to make the holidays special, but once the merriment is over, payday loans will need repaying. It is therefore imperative that the borrower knows they can repay their Christmas loans before taking one. Additionally, it can be worth your while to search for cheaper credit options rather than turning automatically to payday loans. Taking a loan will definitely cost you money, but you might be able to find a good deal by shopping around. Finally, always ensure that your lender is reliable and FCA approved, so you don’t fall prey to shady loan sharks.

Conclusion: Do I Need A Christmas Loan?

It is a sad fact that shady loan companies prey on vulnerable customers as Christmas approaches. The five pamphlets that angered Kez Dancy show that not all lenders practice responsible lending. These companies stalk people in low-income areas and pressure their customers to take out loans they can’t afford. Quick Loans Express believes in 100% transparency and practices responsible lending as outlined by FCA regulations. Serious consideration should always be taken before applying for a high-cost instant loan.

Bryson Oakes
Bryson is the leading engine of the Quick Loans Express blog. He has worked in the financial industry for 15 years and is the go to man for all money-related tricks and tips. When he is not spreading the latest financial news, Bryson can be found playing cricket with his mates or running in the park with his dog.

The article "Do You Need Christmas Loans for the Holiday Season?" was last modified on

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