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Don't pay more than you need to!

Always look at the total cost of the loan with the interest rate added.  The cheapest places to borrow will be either a bank, building society or the Credit Union.  Don't get fooled by glossy adverts from payday lenders, high-street lending shops or lenders who come to your front doorstep. These might seem like an easy way to get cash quickly, but you will end up paying a lot more because of their high interest rates.


Take action

Choose a responsible lender - If you have to borrow, choose a responsible lender with low interest rates. The Nottingham Credit Union offers low cost loans from a little as £100:

Check you are eligible for a budgeting loan - If you are on benefits it might also be worth checking if you are eligible for a budgeting loan as they are interest free, click here for more information.


NEVER borrow from a loan shark, please see our video on loansharks for more information, also at -

NEVER borrow money from people who come to your door. We know that these lenders operate in Nottingham - and that borrowing money this way could see you paying through the nose in interest. Borrowing £200 from a doorstep lender could mean you pay back £365 in total, please see the Money Advice page on doorstep lending for more information.

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