Although payday loans are quickly becoming more popular today, this quick and easy way of getting much-needed cash still intimidates lots of people, particularly with all of the conflict and bad rap that the pay day loans industry is currently getting from all of its critics. Critics say that payday loan firms are generally deceiving the general public with easy money lending applications that actually cost exorbitantly huge interest rates that may rapidly entrap poor debtors who're unable to pay their debts. However, due to the current wage reductions, job losses and also deteriorating working conditions that numerous workers and also staff now face, payday loans still remain as the smartest choice for those who are in immediate desire for quick and easy money. If you're nevertheless undecided about getting a pay day loan, here are some quick facts on no-credit pay day loans that may help you decide.
* Statistically, over 13% of the total human population in the UK acquired pay day loans at one time or another. So if you are concerned that you might be ostracized or rebuked by your buddies or perhaps co-workers, you're not alone. Odds are they too have acquired pay day loans in the past.
* Payday loans really are a convenient means of keeping the credit rating spotless. If you're running low on money and can't make payments on your credit card because of a family emergency, a small, short-term loan can perform wonders to assist you pay all of your bills and maintain a good credit rating.
* The application process is much easier if compared to banks or perhaps credit card providers. A few online payday loan companies even guarantee a single-day application process-something that is virtually impossible when dealing with banking institutions or other lending institution.
* Many reputable payday loan companies provide extremely helpful and also accommodating customer support employees that are better than those who work in banks. In fact, The Guardian reports that a recent survey made by the Consumer Finance Association revealed that "93% of payday loan company customers believe that they are treated with dignity and also respect". Compare this with the ridiculously low ratings that banks are getting with regards to their customer support and you'll understand why many prefer to deal with pay day loan firms.
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