Payday loans by text


Important information – read before applying (click to expand)

Important information – read before applying

  • Before applying, compare the Terms and Conditions and the cost of a payday loan with different providers – choose the option most suitable for you.
  • Bongaloans has a £1 application processing fee to cover the cost of background and credit checks which is non-refundable and does not guarantee a loan. The fee applies when you register for the first time and does not apply to regular customers. The application fee is paid by sending a text BONGA yourpin APPLY to 68899 (example: BONGA 1212 APPLY). Total cost for the text: £1+Standard Network Rate. Help: 01752 484 333 (SMS billing queries only)
  • Payday loans are meant for short-term use and are not a solution for long-term financial difficulties.
  • Do not take out multiple payday loans from different providers as you might end up not being able to clear the balances.
  • Do not take out a new loan to repay a previous one.
  • Think before rolling over the loan – a repayment plan might be more a suitable option for you as that allows you to clear the outstanding balance by paying off smaller installments each month over a longer period (this may result in an increase in the total balance to be cleared). Our Customer Support team would be able to advise you on the most suitable option.
  • Failing to repay a loan on time will result in additional charges being added to the outstanding balance – if you are unable to repay on the due date, contact our Customer Support before the due date, they can then advise you how to settle the debt and what options are available.
  • Failing to repay on time can result in your account being handed over to a debt collection agency, a county court judgement could also be issued against you. There will be a negative entry on your credit report if no arrangements are in place towards repaying the debt.

Credit Checks and Potential impact to credit score

In order for you to receive a loan, you would need to pass our checks. Being a responsible lender, a part of them are also credit checks to make sure you match our criteria and to ensure you would be able repay the loan. Should you default your loan with us then your credit history can be affected and it may become more difficult for you to receive a loan in the future.

Renewal (Extension) Policy information

A payday loan is meant for short term use, however should you need to postpone the payment date then you can extend a loan. This can be done a maximum two times as part of our responsible lending policy. You can extend your loan online on the due date or up to up three days after. Should you need any help to do so then please contact our customer service team. An administration fee is to be paid immediately each time you wish to roll over your loan.

Non-Payment and Financial Implications

Before taking out a loan do consider when is your next payday and whether you have the funds available to repay the loan. If you are not in a position to repay your loan then charges and interest from your Credit Agreement are applied. If we are unable to recover the funds then a debt collection agency will be involved and a County Court Judgement may be issued against you.

Collections Practices

If you receive a loan from Bongaloans then you are expected to repay the loan on the due date. Should you not be in a position to do so then you would need to notify our customer service team who would offer you the most flexible repayment options reasonably possible. Should there be no contact made and no payments received then a debt collection agency will be involved in order to recover the debt.

Interesting facts

  • The Community Financial Services Association of America(CFSA) is the national organization dedicated to advancing financial empowerment for consumers through small dollar, short-term loans. Now in its 12th year, CFSA was established to promote laws and regulations that protect consumers, while preserving their access to credit options, and to...

Additional information

Ranking Member Waters Opening Statement at Payday Loan
Ranking Member Waters Opening Statement at Payday Loan ...
Payday Loans Yahoo Answers UK
Payday Loans Yahoo Answers UK
TxtLoan Short Term Payday Loans in UK - The New Way (part 2)
TxtLoan Short Term Payday Loans in UK - The New Way (part 2)
To Amend the Truth in Lending ACT to Establish Additional Payday Loan Disclosure Requirements and Other Protections for Consumers, and for Other Purposes. (Paperback) - Common
Book (Bibliogov)
12 month loans & Text Loans @ http://
12 month loans & Text Loans @ http://www ...
Loans By Text @://
Loans By Text @://
Text Loans, Payday Text Loans, Instant Text Loans @ http
Text Loans, Payday Text Loans, Instant Text Loans @ http ...