Payday Loans
Introduction
Some months seem longer than others, especially if you
have unexpected expenses that eat into the money you have
to cover you until your next pay cheque.
Fortunately, if you find yourself short of cash towards the end of the month,
you can apply for a same-day payday loan, usually lasting for 31 days.
Loans of this kind are basically cash advances on the salary you're expecting.
They are generally available for amounts between £100 and £1,000 and can be used
for purposes other than bridging the gap until your next pay cheque – as long as you
can pay them back once your expected income arrives.
They are generally available for amounts between
£100 and £1,000 and can be used for purposes other than
bridging the gap until your next pay cheque
How much will I pay?
Is a payday loan right for me?
Are there any alternatives?
What is a payday loan?
Unlike standard unsecured and secured personal loans,
payday loans are short-term borrowing solutions aimed
at those facing an immediate financial difficulty.
They originated in the United States, where it is estimated
that more than 10 million people have used them to
borrow billions of dollars.
Sometimes criticised for making borrowers’ situation worse due to the high
rates of interest applied, these loans can nevertheless help you
out of a tight spot when you need it most.
Short-term borrowing on a payday loan has no impact
on your credit rating and it is not necessary to discuss
the details of your situation with a bank or lender.
Short-term borrowing on a payday loan has no impact on your
credit rating and it is not necessary to discuss the details
Continue to page 2 to see What is a payday loan? >>
