Tag Archives: payday
A Serious Emergency That Was Solved With A Payday Loan
Not so long ago we received a consult from a single mother going through a rather desperate situation. Her only child needed to go through a surgical procedure and she needed money urgently. Though she worked, payday was not soon and the money would not be enough either. The particularities of her emergency surprised us because they matched what payday loans were created for. We suggested applying for a payday loan and since she did, the problem was solved. Later, she visited us carrying her son in her arms and so I decided to write this article.
Using this case as an example, we will analyze the characteristics of a payday loan and the proper use it should have. Emergency situations happen every now and then and payday loans can save your day as they did to this lady. However, if you know how they work and how you should use them you will benefit more from them and will not need to count on the luck that this lady had when contacting us just on time.
Urgent Matters, No Time For Long Procedures
This single mother contacted us a few days before the day surgery was scheduled to occur. She wasted a lot of time trying to get money from friends and family with no luck at all. The amount she raised did not cover much. She did not need a lot of money though (the surgical procedure was not complicated). She just needed $1300 which the insurance would not cover because the procedure was needed to prevent a scar from showing when her son grew up.
As explained, she had committed to pay prior to the scheduled surgery which could not be postponed due to the nature of the injury that would heal leaving a scar if the intervention was delayed. Since there was no time for long credit and income verification processes, payday loans immediately came to our mind. Why? Simple, because payday loans can be processed within the same day and the money can be deposited into the applicants account by the next day.
Credit Problems, No Credit Checks, Few Requirements
This lady did not have a good credit score. Thus, even if she had the time to go through a long credit verification process, chances are that she would not have passed it. Fortunately, payday loans do not require credit checks at all. The whole loan approval is based on simple requirements that almost anyone can meet without hassles or sacrifices.
In order to obtain a payday loan, you need to show proof of income (by offering copies of paychecks receipts like this lady did or by showing copies of tax presentations if you are self employed) and you need to have a savings or checking account on a bank or financial institution where the money from the loan will be deposited and eventually the single or multiple payments will be deducted.
As you can see, payday loans are an excellent tool when there is an emergency. These loans where created to solve this kind of problems and not as a source of regular financing. As usual, our suggestion is to employ them wisely. If you think that your current situation is similar to the one explained above, then do not hesitate, the solution to your problem is a payday loan.
A Rational move towards instant Cash relief !
There are certain times when we are bound to make some extra expenses in order to keep up our commitments. Such inevitable situation force us to spend that additional cash even if our bank account does not allow us to do so.
This leads to the imbalance in the cash inflows and outflows of a particular month. It is the most difficult phase which one undergoes, when the monthly budget exceeds unexpectedly and you just can not avoid making those additional payments. So, you might start looking for some external cash help.
No doubt, you can make a request to your friends and relatives to obtain small amounts of advances, but then it is not a feasible option every time you are in such a trouble. It may lead to unhealthy relations between you and your closed ones in the times to come. Now just do not worry, as you can rely on the loan tools available in the country’s financial market.
In UK, there are quite a number of loan products which are readily available for you. One of the various loan types currently existing to support you is termed as payday loan. It is also referred to as a quick and easy cash at your disposal. It can be further explained as a short term loan which usually serves to bridge a gap between two paychecks.
The loan lenders understand the exact needs of the aspiring borrowers. These loans are useful at the time when you require urgent cash to make some unforeseen payments. It intends to cover the borrower’s expenses until he receives his next paycheck.
The loan can be applied through Internet which means you need not wait in long queues for the approval. The online procedure makes it possible to save enough time at your end. Moreover, no credit verification is done under such a loan category. You can quickly get the cash in your account and start using the money as per your need.
However, there are certain prerequisites which have to be fulfilled in order to become eligible for a payday loan. First and the foremost condition is that you must be an adult citizen of UK. Next, you need to be permanently employed, which ensures the lender about your regular income. It in turn helps you to decide the loan amount to be fetched as a loan, The amount on loan must be selected according to your capability to repay it on your next payday.
You can make use of the amount for almost any purpose. Whether it may be the medical bills, college fee or your mounted monthly expenses. The application of the loan amount is not limited to a particular area.
Therefore, payday loan is a convenient way to pay off your sudden increased expenses, without any hassles.