Unless you never watch the TV you will have seen all the new adverts for the many payday lenders such as Cash Genie, Cash Train and not forgeting Speed e Loans but is it possible to justify the charges such a loan costs?
Autos are great when they are going but what if you are dependant on your vehicle to enable you to do your job and it breaks down? If you do not have the money to get it fixed the resulting loss of income would be greater than the cost of borrowing the cash to get it fixed.
You could have a parking fine that is about to double in charges if not paid today so you'd be grateful to find someone to lend you the money to avoid such a cost. A lender who can give you the money with the minimum of fuss and embarrassment.
These are the type of emergencies payday loans were originally designed to cover and notwithstanding what you could have heard, the rates of interest aren't that high given the short length of the loan, far cheaper than an unauthorised overdraft as an example.
How do I qualify for a payday loan?
In most cases you have to have a job, or regular revenue stream and a Bank Account. So long as you have those you ought to be OK to satisfy the payday lenders criteria.
To be clear, the lenders make the whole process of borrowing the money as easy and hassle free as it can be. They appreciate that you require the money swiftly and don't really wish to go from lender to lender to get it.
How much can you borrow?
Each loan company has a limit but this can vary according to the company and your own circumstances. The loan is intended to be short term and affordable to you and shouldn't be a continuing debt.
To ensure success with your loan request a good rule is to always apply for 30% or less of your income as anything more raises a flag with the bulk of the payday lenders.
Payday loans are everywhere now and have proven to be a handy outlet for many. The figure to be repaid may appear high to many people but what you have got to appreciate is that the alternative may prove to be more expensive depending on the individuals circumstances.
Payday loans are here to stay and provide a source of instant money that conventional lending establishments can't or will not provide.
Autos are great when they are going but what if you are dependant on your vehicle to enable you to do your job and it breaks down? If you do not have the money to get it fixed the resulting loss of income would be greater than the cost of borrowing the cash to get it fixed.
You could have a parking fine that is about to double in charges if not paid today so you'd be grateful to find someone to lend you the money to avoid such a cost. A lender who can give you the money with the minimum of fuss and embarrassment.
These are the type of emergencies payday loans were originally designed to cover and notwithstanding what you could have heard, the rates of interest aren't that high given the short length of the loan, far cheaper than an unauthorised overdraft as an example.
How do I qualify for a payday loan?
In most cases you have to have a job, or regular revenue stream and a Bank Account. So long as you have those you ought to be OK to satisfy the payday lenders criteria.
To be clear, the lenders make the whole process of borrowing the money as easy and hassle free as it can be. They appreciate that you require the money swiftly and don't really wish to go from lender to lender to get it.
How much can you borrow?
Each loan company has a limit but this can vary according to the company and your own circumstances. The loan is intended to be short term and affordable to you and shouldn't be a continuing debt.
To ensure success with your loan request a good rule is to always apply for 30% or less of your income as anything more raises a flag with the bulk of the payday lenders.
Payday loans are everywhere now and have proven to be a handy outlet for many. The figure to be repaid may appear high to many people but what you have got to appreciate is that the alternative may prove to be more expensive depending on the individuals circumstances.
Payday loans are here to stay and provide a source of instant money that conventional lending establishments can't or will not provide.
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Visit Payday Loans Advice and find a lot more loan facts including why we don't think you should lend from Pounds2Day
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