Getting a Payday Loan in the UK. Should you or Shouldnt you?
Getting a UK payday loan if your a UK resident can be a challenge. The first challenge is to discard the negative information you have read in the media or perhaps been fed by your peers. A UK payday loan is not the loan shark approach to finance that everyone would have us believe. But... and their is a BUT... if your the kind of person who is irresponsible with money then perhaps a UK payday loan isnt for you. Lets look at this in detail.
At the time of scratching this article Christmas 2011 is upon us. Many of the big department stores have started to offer wares such as Nintendo 3DS and XBOX Connect (or PS3 and Nintendo Wii to complete the quartet of games consoles on everyone’s list!). Many perfume advertisements flicker on the silver screen and perhaps you have been caught up in the 'usually festive' Coke advertisements and who could forget Marks and Spencer’s!
The trouble with Christmas is not just 'the money' but where and when the money comes in. On top of this we can’t forget the bills that roll in on a daily basis. Some people get paid on the last Thursday of the month and if they so happen to have a problem during the Christmas break then where do they turn?
Your first option would probably be your overdraft. If it’s arranged and you have good credit then fantastic, it’s probably the most convenient and most affordable way to borro money. Some of us however are not so fortunate, possibly through no reason of our own, and have a bad credit rating.
Your next port of call could be a catalogue or store card. A store card is like a credit card but interest can be as high as 28% a year. If you go down this route then you may have more than a few store cards and they can be a burden. Some of us may still be paying off the store card until the following Christmas...
Again, some of us don’t want or need a store card, don’t wish to sign our lives away and have yet another bit of plastic in our wallet. Perhaps some of us have no debit card or credit card anyway and, due to bad credit, don’t stand much chance of getting a store card.
Help is at hand with a payday loan. Applying for UK Payday Loans can be a simple short term solution if you’re looking to borrow a few hundred pounds to fend off the Christmas blues and as long as you are working you will more than likely qualify. A no credit check payday loan can get you the cash in 24 hours or even the same day! No waiting for the post man, the credit card, the pin numbers and absolutely no faxing.
Payday loan companies typically charge 25 pound for every 100 you borrow which over a year APR can show up to be quite an amount! This has been used a lot in the national press to scaremonger people into not using the payday loan as a viable option. In defence of this sky high APR its worth noting that a payday loan should only be taken out for the duration of one month and should be repaid in full on your next payday. A payday loan is not a long term (ie. one year) loan.
At the time of scratching this article Christmas 2011 is upon us. Many of the big department stores have started to offer wares such as Nintendo 3DS and XBOX Connect (or PS3 and Nintendo Wii to complete the quartet of games consoles on everyone’s list!). Many perfume advertisements flicker on the silver screen and perhaps you have been caught up in the 'usually festive' Coke advertisements and who could forget Marks and Spencer’s!
The trouble with Christmas is not just 'the money' but where and when the money comes in. On top of this we can’t forget the bills that roll in on a daily basis. Some people get paid on the last Thursday of the month and if they so happen to have a problem during the Christmas break then where do they turn?
Your first option would probably be your overdraft. If it’s arranged and you have good credit then fantastic, it’s probably the most convenient and most affordable way to borro money. Some of us however are not so fortunate, possibly through no reason of our own, and have a bad credit rating.
Your next port of call could be a catalogue or store card. A store card is like a credit card but interest can be as high as 28% a year. If you go down this route then you may have more than a few store cards and they can be a burden. Some of us may still be paying off the store card until the following Christmas...
Again, some of us don’t want or need a store card, don’t wish to sign our lives away and have yet another bit of plastic in our wallet. Perhaps some of us have no debit card or credit card anyway and, due to bad credit, don’t stand much chance of getting a store card.
Help is at hand with a payday loan. Applying for UK Payday Loans can be a simple short term solution if you’re looking to borrow a few hundred pounds to fend off the Christmas blues and as long as you are working you will more than likely qualify. A no credit check payday loan can get you the cash in 24 hours or even the same day! No waiting for the post man, the credit card, the pin numbers and absolutely no faxing.
Payday loan companies typically charge 25 pound for every 100 you borrow which over a year APR can show up to be quite an amount! This has been used a lot in the national press to scaremonger people into not using the payday loan as a viable option. In defence of this sky high APR its worth noting that a payday loan should only be taken out for the duration of one month and should be repaid in full on your next payday. A payday loan is not a long term (ie. one year) loan.
About the Author
This artical was written on behalf of http://www.paydayloanpig.co.uk and should only be used as a guide. Always speak to your financial advisor before taking out any form of loan or finance. Payday Loan Pig is not affiliated and does not intend to harm the good names of companies mentioned in this artical. |
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