Peachy Payday Loan Reviews

Peachy Payday Loan ReviewsPeachy Payday Loan says you can get money into your account quickly, and they are pretty flexible with the repayment plan.

This means they’re a little different than your typical payday lender, which usually requires you to pay back the entire loan on your payday before being able to take the money out again. This causes many borrowers to fall into the payday loan trap and spend months or even years trying to get out.

Peachy Payday Loan Reviews – Mostly Positive

The bulk of the reviews we’ve seen show that most people are happy with their experience at Peachy. They seem to have everything in order, and they have a very streamlined application process so you don’t have to waste a lot of time filing it out, and you get an answer right away.

The thing you have to remember is that most people are pretty grumpy when they deal with a payday lender, since they’re down on their luck and are facing financial uncertainty. For them to have a good experience and speak nicely about a lender really says something. It’s easy enough to find negative reviews for every single lender you find on the Internet or offline. This is because of the disgruntled nature of the borrowers since they know they’re paying a high amount to borrow the money. Nobody likes to be kicked when they’re down, so you really have to wow them with customer service and ease of use if you want a positive review.

Secure Server
Peachy provides a secure way of submitting your application, unlike companies such as Octopus. This is an important distinction because this is sensitive information you’re providing, and if the wrong person got a hold of it they would have much of the information needed to take over your identity. That’s why it’s surprising that there are so many lenders out there that don’t have a secure server.

Up Front Pricing
They are very straightforward when it comes to showing you how much the loan will cost you, how long you’ll have the money for, when your payments are required, and how much the total cost will be once all payments are made. This let’s you make an informed decision right from the start, and reduces the likelihood that you’ll be surprised at the charges later.

Let’s take a look at some of the examples to see if they make sense in the long run. If you max things out and take their option of 500 pounds for 5 months, you’ll end up making 5 payments of around 200 pounds each, for a total payment of over 1000 pounds. It’s quick math to show that you’re paying back nearly double what you borrowed. That’s expensive money no matter how you look at it, and you’d really have to consider whether your current financial crisis is worth paying 500 quid on.

A smaller example would be if you wanted to borrow 100 quid for just 30 days so you can cover a few things in your bank account and avoid overdraft charges. This will cost you 35 quid at the end of the 30 days, so you’d have to run the numbers to see if that’s your cheapest way out with the least hassle.

Requirements
They have the same basic requirements for most payday lenders, you have to be an adult with a regular income that goes right into your bank account. They want you to make at least 600 pound a month in order to qualify for their lowest loan amounts, and of course the more you make per month the more you’ll be eligible to take out, up to their maximum.

Our Recommendation
It seems that on smaller amounts and smaller time frames, the Peachy payday loan is a good idea. When you start getting into larger loan amounts and monthly payments your total payment seems too high to justify taking out the money. Of course if it’s an emergency it might call for paying the fees, but some of the situations have you paying 100% of the loan amount back as interest and fees, and that’s simply absurd. You’ll be in a bigger financial hole than when you started, so our recommendation is to stick to the lower amounts and shorter duration.

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