Tag Archives: payday loan
Payday Loans in the UK are Convenient
Payday loans are a vital source of credit for many low income earners and others in the UK who dont qualify for loans or who have poor credit. A payday loan is a quick convenient form of borrowing that meets the real needs of UK consumers.
That has traditionally meant that most Brits would have to turn to family for emergency funds. In modern times however, people dont like turning to family for short term loans and many dont have family local. We all encourage others to be independent and to be conservative with money and live within ones means.
In reality, our monthly bills can come unexpectedly. Bills for car repairs, medical treatments, clothing, or home repairs cant be put off even though we have no money. Because of the global recession banks are even less reluctant to fulfill the short loan requirements of UK consumers and workers. The banks however dont necessarily want to let competitive financial services provider enter the lending business.
New payday loan lenders have arrived on the scene to fill this loan market void. Detractors of payday loan lending cite high interest rates as a big problem. Each payday lender has their own set interest rate and borrowers are advised to look for the best loan interest rate they can get along with lower transaction fee costs. Payday loan lending rates vary from 738% to 2200% on a yearly basis if they debt is carried forward each month. If the loan is taken for short terms, the actual cost is fairly reasonable.
The payday loan application process is straight forward. This is an area where borrowers should pay attention to as well. Some UK payday loan companies are open to make applicant a customer but this isnt wise. Many people who apply for payday loans have been turned down many times before because they dont qualify. Someone who is about to move or lose their job often a bad candidate for a loan. A responsible and ethical payday loan company will only take the best available candidates. A company that caters to these trouble account often end up having aggressive interest rates and collection practices that give the industry a bad reputation. They are the problem.
If you apply for a payday loan, be aware of the companys credibility and how they conduct themselves. If they treat you with disrespect and dont conduct due diligence on your acceptability as a borrower then you can expect they will be inundated with bad borrowers. Some has to pay for all those delinquent loans and their customer service too will be geared toward dealing with soon to default borrowers. A payday lending company that takes a few days to accept you and asks you to fill out and send in forms is obviously a better bet. That short extra time means youll be in good company and youll get the best payday loan rates possible.
If you have to fill out forms to complete a payday loan account and are required to wait a day or two, do it. Do business with a payday loan company you can trust.
Take A Vacation using a Payday Advance
The recession has been difficult for many to endure. Endless days of working with no breaks to refresh oneself is sure to shorten your lifespan and leave you feeling in the doldrums. If youve gotten into a cycle of misery and depression, it is wise to break that cycle somehow. Going to the gym, going for a walk, picking up a new sport, and reading a book are a break, sort of. Well, actually, youre not really getting away are you?
Vacations have a cost and if you dont have a credit card, a payday loan might be enough to help you escape for a week or two.
Part of the problem with a rut is that our surroundings, our immediate environment, never changes and yet the human mind requires a fresh change. Sameness causes lethargy and a lack of creativity. The change in scenery, people and activities revitalizes the mind. Despite what many TV talk show hosts might say, you cant think away boredom and stagnation. The endless repetition we all endure at work is usually accompanied by routine at home too. You may have tried to change your routines or tried to develop a hobby at home to give your mind something new. Thats simply good enough.
This winter, we had some of the worst weather in the history of the UK. We felt confined and worn out from the tyranny of the weather. Its strange though, that those who live in Mediterranean feels the same way, that life is routine and the weather is oppressive. They too need a vacation.
For you a trip south brings with it unfamiliar surroundings, culture, new music and entertainment, geography and wonderful amounts of sunshine. That change has an impact on your senses and brain chemistry. Its better than getting another prozac prescription from your doctor.
How do you fund an emergency vacation if you dont have a credit card to use? A payday loan is a good solution. Over a short period of the loan, the charges arent too bad and well worth getting away to revitalize yourself. The payday loan application is fairly quick and you can apply online. Payday loans dont require a traditional credit check although the reputable payday lending companies will have other means to determine if youre an acceptable risk. You should only apply with reputable payday lenders.
Unscrupulous payday loan companies get that way because theyve lent out to borrowers who have forfeited or because they have trouble recouping their money. If a payday lender is giving out money too easily and quickly, it stands to reason they may have some bad loans. Look for a payday advance lender in London that has good lending practices.
The major banks dont provide short term loans or payday loans. The payday loan market however is strong with hundreds of thousands of people taking out payday loan accounts. Its a simple process really and you can borrow from £300 to £750 or more. Small loans of this amount are easier to manage, but make sure you make your loan payments on time and dont roll over your payday loan amount owing too long.
Good luck with your vacation to Spain, Portugal, Greece or Italy or the Alps. Find an economical holiday spot and come back in a new frame of mind.