6 reasons to choose CashLady as your MyJar alternative
1. The 30+ direct lenders we work with are all open to accepting applications.
2. We don’t charge any fees for our credit broking service.
3. Quotes are no-obligation.
4. You can search for a loan 24 hours a day, 7 days a week.
5. Our online form takes just five minutes to complete.
6. If approved by one of the lenders on our panel, your money could be sent the same day.*
Who was MyJar?
MyJar, based in London, UK, was a direct lender offering short-term loans between £100 and £2,000, with repayment terms of either 3, 6 or 12 months, depending on the amount of money you applied to borrow.
Is MyJar still trading?
No, MyJar is no longer trading as a direct lender, and you cannot make an application for a loan with them.
If you need a loan to help cover the cost of a financial emergency, CashLady could be a suitable MyJar loan alternative.
What happened to MyJar?
On December 22, 2020, MyJar entered into administration.
Harrisons Business Recovery & Insolvency (London) were appointed as the joint administrators.
At the time, MyJar released the following information on the FAQ section of their website:
“The Directors of MYJAR have made the decision to place the business into administration due to external factors that have placed financial pressure on the business and its ability to trade through these challenges.”
After the company’s closure was announced, the MyJar customer service team temporarily remained available to assist with customer queries.
Can I still make a claim against MyJar?
No. Customers entitled to a possible redress claim were contacted by the administrators by June 5, 2022. If you were a MyJar customer and you did not receive an email by this date, the administrators state that you are not entitled to redress.
You can find out more about this here.
MyJar loans alternatives
CashLady is a credit broker. We only work with lenders who are UK-based and authorised and regulated by the Financial Conduct Authority (FCA).
If you meet our eligibility criteria, you’re more than welcome to use us to help you search for a loan.
Who can search for a loan with CashLady?
You can begin your search for a suitable MyJar loan alternative with CashLady if you:
- Are over the age of 18;
- Are a UK resident;
- Have a UK bank account and a valid debit card; and
- Have a regular source of income paid into your bank account.
Any credit score considered.
Could I get a loan if I have bad credit?
Having bad credit doesn’t always mean that your application for a loan will be turned down, although you might find that your borrowing options are more limited.
CashLady works with several lenders who specialise in loans for people with bad credit, so even if you’ve struggled to manage credit commitments in the past, you could still be matched with a suitable loan.
Please be aware that a bad credit loan could come with a higher rate of interest. This will affect your monthly repayments and the overall cost of borrowing.
Credit broker v direct lender
MyJar was a direct lender, whereas CashLady is a credit broker.
If you used MyJar in the past, you might not be familiar with how a credit broker works, or how using one could help to save you time, as well as potentially protect your credit score.
The loan market can be confusing and knowing where to start looking can be tricky.
You might make a number of applications with different lenders before finding the right loan for you. Not only will this take up your time, but when you apply for a loan directly with a lender, they will carry out a creditworthiness assessment. This will include a hard search or Open Banking.
A hard search will be visible on your credit file for up to 12 months. Undergoing multiple hard searches in a short space of time will harm your credit score.
CashLady uses soft search technology. This means that we can gain an overview of your financial history and scan over 30 lenders for a loan to suit your circumstances without leaving a mark on your credit file or harming your credit score.
If you’re matched with a lender, you can decide whether you’d like to make a full application. Only then will a creditworthiness assessment be carried out by your lender. As discussed, this could include a hard search.
MyJar loans alternative: how much money could I get, and how long can I borrow it for?
With CashLady, you can search for a short-term loan between £100 and £10,000. Depending on the amount of money you apply to borrow, you could repay your loan across a term of 3 to 60 months.
What should I do if I can’t afford to make my repayments?
If you’re unable to make your repayments in full and on time, you should contact your lender.
Struggling with money? You’re not alone. Please know that the charities and organisations listed below can offer you free, confidential support and advice on a range of financial topics, including debt management.
*Payout time scales vary between lenders. The time it takes for the money to appear in your account will depend on your bank’s policies and procedures.
CashLady Representative 79.5% APR