Posts Tagged ‘payday loan’

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  1. Instant pay day lenders and New Year blues

    Posted January 27th, 2012
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    The period after the Christmas and New Year holidays may be bleak – and not only in weather terms. It may also be a time of financial stresses as we recover from the holiday spending – and that is when we may have need of instant pay day lenders.

    The payday cash advance

    This is a relatively recent arrival to the marketplace.

    The entire philosophy revolves around the concept of offering people a fast cash advance of a smaller sums of money (perhaps up to £500) in order to deal with an unexpected problem or equally, an opportunity that has arisen when payday is still some time away.

    Available through instant pay day lenders online, these products are designed to be fast in every sense.

    After a brief online application, you may be able to anticipate an almost immediate decision and if it’s all systems go, the money may be with you in your bank account in just a few hours (bank holidays and weekends excepted of course).

    Then, on the agreed date on or around your following payday, the payday loan lender may place a debit on your bank debit card to recover the original advance plus their charges (you will have seen and understood these and the recovery date, at the time you took out the advance).

    Is this a cheap cash advance?

    Lenders that specialise in this type of product will have published rates and tariffs that need to be studied closely to ensure that you have found a deal that meets your needs.

    What is cheap for one person may not prove to be so for another so whilst recommendation and advertisements are useful, there may be no substitute for looking around, doing your sums and comparing cash advance one offer against another.

    Remember that it is important to ensure that the agreed sum is repaid exactly on the agreed date as changes to the agreement and delayed repayment, may involve you in additional charges for interest and possibly administration.

    Instant pay day lenders will typically be only too happy to confirm the details of their charging and repayment policies and clarify anything you do not understand.

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  2. Who offers the cheapest cash advance?

    Posted January 19th, 2012
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    As we are now in the New Year, it is not too unusual to find that finances may be getting stretched a little tight, especially in the aftermath of Christmas. If so, you may be interested in thinking about where to find the cheapest cash advance:

    • perhaps the first thing to try and remember is that what is the cheapest cash advance product for someone else may not prove to be cheap for you – it may be important to shop around, carefully examine the facilities and prices on offer from different lenders and then to make your own decision;
    • in addition to closely examining the prices being offered, it may also be worthwhile thinking about how UK payday loans operate and how you may be able to help to control your own costs;
    • typically, you will make an online application and after a very fast decision (and assuming it is positive) the money may be sent immediately to your bank account;
    • then, in the case of some payday loan lenders, on a date around your next payday, a charge will be placed on to your bank debit card by the provider comprising the total of the amount you have borrowed plus their agreed charges;
    • payday loans are not typically regarded as being suitable for longer-term or larger amount borrowing (a typical sum may be under £500);
    • they may also not be the most suitable product if you are looking to deal with a debt that you have been consistently unable to pay, consolidating a series of debts or as a way of regularly supplementing your monthly income which is proving to be insufficient to deal with your normal daily life expenses;
    • it may also be highly advisable to ensure that you borrow a sum that you know you will be able to comfortably repay in one go, without creating further financial difficulties for yourself in the month ahead;
    • by avoiding inappropriate uses of this type of borrowing, you may end up helping to manage downwards, the cost of your borrowing;
    • when you are looking for the cheapest cash advance, remember also that failing to repay the money on the due date may involve you in additional charges and administration fees.

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  3. How do I get a fast advance on salary?

    Posted January 9th, 2012
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    At one time, it may have been possible to ask an employer for a fast advance on salary if things were a little difficult one month.

    This though, is becoming a little harder to find, as employers typically seek to reduce the amount of exceptional processing they need to do each month with their internal payrolls.

    It may also be the case that the employer/employee cultural relationship has shifted over recent decades and people may be increasingly reluctant to go and discuss their financial affairs with their colleagues in the organisation, simply in order to try and secure a fast advance on salary.

    A borrowing product range sometimes referred to as speedyloans or payday advances, may provide an alternative.

    Typically available online, a relatively simple application process is all that is required. You may need to confirm that you are 18 years of age or over, are in permanent employment providing you with a regular income and that you have a UK bank account with a related bank debit card.

    Assuming your application is approved, the money may be immediately electronically transmitted to your own bank account, where it may potentially be ready for you to use within less than a few hours of your first application.

    Then, to continue the simplicity of operation, you will repay the amount concerned (plus the provider’s fees that you will previously have seen and agreed) in one go on or near to your next payday. Some payday loan providers may even be able to place a direct charge against your bank direct card to recover the agreed sum.

    Just to further emphasise the difference between this and obtaining an advance on your salary, the lenders here may ask you no questions at all as to why you need the money or what you plan to do with it. That is your concern entirely and is nothing to do with them.

    Do remember to regard the fast advance on salary products as being designed for short-term emergency borrowing. They may not be suitable for longer-term requirements nor should they be used every month in an effort to try and supplement your regular monthly income.

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  4. A cash loan advance for Christmas cheer

    Posted December 3rd, 2011
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    Once again, Christmas has arrived more quickly than many of us anticipated and we may be finding that cash is looking tight for the approaching holiday season. If that is the case for you, a cash loan advance might be part of the solution:

    • a cash loan advance (sometimes also called payday advances or fast loans) is a facility whereby you can apply for a sum of money and if approved, pay it back out of your next pay;
    • the sums available are modest (£150-£500 though possibly up to £1000 and different providers may have different averages/limits) but perhaps more than sufficient to help you get through the typically high demands on your bank balance that the Christmas and New Year period may bring;
    • if your payday loan is approved and assuming that your bank has systems capable of accepting fast transfers, the money may be in your account within as little as two or three hours;
    • the sum is typically repayable in one single amount, which will comprise the original sum borrowed plus the lender’s charges;
    • a cash loan advance is typically made available without preconditions as to how you may spend money, so you may use it for presents, food, entertaining or simply for a couple of out-and-about trips during the holiday season;
    • of course, as with most forms of borrowing, to secure a payday advance you may be expected to show that you will be capable of paying it back in line with the agreement – so you may typically need to be in permanent employment and receiving a regular wage or salary that is sufficient to justify the sum you are seeking to borrow;
    • if you have previously had some credit history issues, you may be pleased to hear that, as these cash advances are for relatively small sums advanced for shorter periods of time, the lenders may be far less concerned about the full credit history checks than other forms of conventional funds providers;
    • the fast cash advance through some providers, may be repaid by them placing a direct charge for the agreed sum, against your bank debit card;
    • when seeking a cash loan advance, particularly over the Christmas and New Year period, you may wish to bear in mind that January may prove to be a long month. It may be advisable therefore to only borrow an amount of money that you can be sure you will be able to repay in one go, comfortably, together with the interest and any fees, on your next payday.

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  5. Choosing from a list of payday loan companies

    Posted November 30th, 2011
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    Payday loan companies may be able to help you if you have a requirement for an emergency injection of cash.

    How?

    By making available what’s called a payday loan (also known as a payday cash advance).

    This is a newer product to the lending marketplace and is aimed at people who do not wish the long-term commitment or formality (plus delays) that may arise when applying for conventional larger loans.

    They are typically available for smaller sums (say perhaps around £100-£250 as an average though perhaps up to as much as £1000) than conventional borrowing and that may mean that the lenders may be able to move faster in terms of processing your application and getting you the money.

    Applications may typically be online and subject to very fast decisions – in fact, as the sums being borrowed are smaller, some payday loan companies may not even bother with a full credit history check which is good news if you have some blemishes on your credit history files.

    These cash advances are typically repaid on your next payday in one go, so you avoid the long-term repayment commitments that may come with conventional borrowing.

    There are numbers of providers of such loans, so how does one select between them?

    There is, of course, no certain single answer and each individual borrower will need to make their own assessment.

    Having said that, you may wish to consider for each company:

    • their tariff of charges (note whether or not they charge an administration fee in addition to the interest charge etc);
    • how quickly they may be able to give you a decision on your application and then if approved, how quickly they may be able to get the money into your bank account;
    • how flexible they may be able to be on repayment dates (though remember that this form of borrowing may not be suitable for longer-term borrowing needs);
    • how much they may be willing to lend you (though this may also be significantly affected by your earnings status etc).

    Given that the market is competitive, it may make sense to shop around before choosing from a list of payday loan companies.

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  6. Getting access to payday loans today

    Posted November 10th, 2011
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    As winter approaches, bills may start to mount up and you may find yourself wondering just how you can get access to payday loans today.

    A payday loan is one where you borrow a relatively small amount to help out with a short-term need. The sums involved may vary but figures around £100- £250 are not unusual (but you may be able to get hold of up to £1000 if your circumstances justify it).

    Payday loans today may be more than just an idea – they may be a reality.

    That’s because the providers may be able to move very quickly to both approve your application and to send the money to you. Some may be able to send the money directly to your bank account and if so, you may find it available to you within as little as 2 or 3 hours of your initial application.

    On your next payday (or perhaps the one after that) the provider of your funds will typically charge your bank account directly (through your bank debit card) to recover the original sum advanced plus their charges which you will previously have seen and agreed.

    The funds, once advanced, may be used for any purpose you require. That may be to help with Christmas expenses, buying yourself a new outfit, booking next year’s holiday a little early to get a great deal or treating yourself to a heath spa visit.

    Typically, lenders don’t ask why you need the money or what you’re planning to do with it – that’s your business and not theirs.

    The costs of these advances may vary considerably between providers and it may be a good idea to shop around a little until you find one that’s most suitable for you.

    Keep in mind two things:

    • these cash advances are designed for short-term borrowing and may not be suitable for longer-term purposes, debt consolidation or existing debt servicing (if you find you are struggling to meet your regular monthly outgoings, then you may need to consider other solutions rather than payday advances);
    • if you do not repay the loan by the agreed date, you may incur additional charges.

    So, payday loans today are a reality – as you may see if you apply for one!

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  7. Holiday cash and instant loans online

    Posted August 9th, 2011
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    You may have found a holiday package that ticks all of the boxes except one – your payday falls while you are away on the last few days of your break or just after you get back. Fortunately instant loans online may help provide you with some holiday spending money just when you need it.

    Annual pressures

    Everyone needs a holiday but there’s no denying that they can be expensive.

    Some new clothes, sun creams and toiletries – these things can all add up before you go and that’s before you even think about spending money when you get there.

    It’s easy to underestimate just how much you’ll spend on holiday as the surrounding temptations call upon you to dip more frequently into your purse or wallet than you’d imagined.

    So what’s the solution?

    You could, of course, simply cut right back and just sit in your caravan or hotel room, watching the world go by, while regretting that you don’t have to money to join in. You might also spend time wishing that your payday was arriving a bit sooner – but that’s unlikely to make any difference.

    That’s where instant loans online may be able to help out.

    Payday loans

    This form of cash advance is sometimes called a payday loan – because it can act as an early payday.

    It typically couldn’t be simpler.

    Payday loan providers can be found online. A simple application is all that’s required – and the money may be in your bank account within as little as two hours if your loan is approved.

    To be eligible to apply for a loan, you will typically need to be in recognisable permanent employment that results in a regular and predictable payday for you each month.

    When that next (or perhaps the next-but-one) payday arrives, you simply repay the loan in one go – plus the lender’s charges.

    It may be as simple as that.

    The amounts available are typically between £100-£250 though you may be able to borrow up to £1000 subject to circumstances.

    So, instant loans online may just help you complete that holiday in the same way you started it – having fun!

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  8. BBQs and a payday cash loan

    Posted June 6th, 2011
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    As the summer rolls in, it is sometimes a little easy to get ‘carried away’ and start issuing invitations to one and all for a barbeque. It’s a lovely idea, particularly if it involves family but you may end up wondering just how you’re going to pay for it all – and that’s when a payday cash loan may come in handy.

    The reality

    The first thing to do is not to feel guilty – we’ve all done it!

    Becoming lost in your own enthusiasm for getting family and friends together is perfectly natural, though realising that you got a bit carried away won’t, in itself, help you cope with the sudden cost you’re facing.

    You could, of course, start calling people up to ‘de-invite’ them and perhaps they’ll even understand, however, such extreme steps may not be necessary. Payday loans could be an option.

    Payday cash loan

    These are loans for small manageable amounts of cash (sums of around £100-£250 are perhaps the norm though you may be able to obtain more).

    The amount is designed to be repaid in one go, when you next get paid (or thereabouts) though the exact date can be agreed with the loan provider, along with any interest and fees.

    If your online application is approved, something that may happen almost instantly, the money may pop up into your bank account within as little as 2 hours or so (if your bank can accept immediate transfers).

    Then, on the agreed date, the provider will simply debit your bank debit card to recover the loan plus their previously agreed fees.

    If, on the due date, you do not have sufficient funds to cover the debit, the provider may amicably agree to a revised repayment date but do keep in mind that this may involve you in extra charges.

    Making it happen

    With the British summer being what it sometimes is (i.e. highly unpredictable or sometimes even virtually invisible), you may want to take advantage of it while it’s here.

    Getting family and friends together is a great way to spend time and if the weather’s kind, nothing is better.

    So, don’t be worried that you were a little too free with the invitations – a payday cash loan may just help you create a great day for one and all. Just don’t burn the sausages!

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  9. Fast payday loans and your credit history

    Posted April 30th, 2011
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    If you are considering using fast payday loans, you may be wondering about how the loan providers may view credit history troubles.

    Individual payday loan providers may see things differently and you may have to check their specific offerings to understand their position.

    Even so, you may find that certain general principles apply:

    • fast payday loans are typically for modest amounts – perhaps £100-£250 is an average sum although amounts up to £1000 may be available in certain circumstances;
    • they are also advanced for shorter durations, typically a few weeks until your next payday;
    • the two things taken together mean that payday loan providers may face smaller risks than conventional lenders who are advancing larger sums of money over longer periods of time;
    • as a result of this, you may find that the loan provider is rather more relaxed about certain categories of credit history troubles than would be the case with conventional lenders;
    • in some situations, if your credit history records contain certain types of problem, the loan provider may offer you a smaller loan than you requested but if you pay that back successfully, they may be prepared to offer more in future;
    • as you would expect, although a payday loan provider may be less concerned about credit history records than other types of loan provider, nevertheless they may reluctantly be obliged to refuse a loan if your credit history is particularly bad.

    There are other things to keep in mind if you are hoping for a successful outcome to your loan application:

    • you will be asked for details that indicate you are UK resident, in employment and in possession of a bank account together with an associated bank debit card – if you cannot answer ‘yes’ to these then you may find that your loan application is rejected;
    • the loan you are requesting will be paid back in one go when you next get paid (or your payday after that), therefore, the amounts you are asking to borrow must be sensible in terms of your income level and your ability to pay it back from a single month’s salary.

    The bottom-line good news is that fast payday loans may be available even if you have certain types of credit history glitches on your records.

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  10. Make Valentine’s Day a bit more special with a payday loan

    Posted February 13th, 2011
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    The problem with Valentine’s Day is that it falls on the 14th of the month. That may mean that it is something of an embarrassment in terms of your cash flow. If so, a payday loan may be able to help.

    A mid-month crisis

    The problem with birthdays, anniversaries and special events that fall in the middle of the month, is that they are typically either a bit too late or a bit too early for our monthly payday.

    Yes, in theory, we should all budget and plan to buy our Valentine’s Day treat for a loved one at the end of January when we were last paid.

    Yet life isn’t like that.

    If you have had expenses and other unplanned spending needs early in February, by the time you approach Valentine’s Day, your bank balance might not look to be in the healthiest of conditions.

    You could, of course, try explaining this to your loved one and perhaps they would understand – but then again they may not!

    Loving the payday loan

    A payday advance loan might just help you survive such a financial and possibly emotional crisis.

    Applying online, you’ll typically be able to borrow between £100-£250 (perhaps more in some cases), which may be sufficient to enable you to buy something or to arrange a special treat.

    On your next payday, the loan provider will simply charge your bank account, through your bank debit card, to recover the loan plus their charges that you’ll previously have seen and approved.

    Loans are typically available with a minimum of fuss and as the sums are smaller, you may find that the qualifying requirements are relatively easily met. For example, you may be able to obtain such a loan even if you have some credit history problems behind you.

    You may find that it is rather easier to obtain a loan of this sort than it will be to explain to your loved one why you have apparently neglected them on Valentine’s Day!

    What you’ll need

    To obtain a loan, you’ll typically need to be:

    • aged 18 or over;
    • in permanent employment that is generating a regular income;
    • a UK resident;
    • in possession of a UK bank account with an associated bank debit card.

    Finding out more about the payday loan might be a good idea and could make Valentine’s Day extra special.

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