Just because a bill is unexpected doesn’t mean that you can ignore it until your next payday comes round when you are then able to pay it. It may need to be paid now and cash loans may be one way of helping you do just that.
There may, of course, be other options available to deal with this kind of unexpected expense.
Credit card
You could use a credit card to pay the bill. If you don’t have a credit card though and can’t get one or just don’t want one, then this may not be a realistic option.
Overdraft
Deciding to pay the bill by running up an unauthorised overdraft may get the bill out of the way but you will almost certainly be hit with overdraft charges for each day that your account remains overdrawn.
Some of these charges may bear little relation to the actual size of the overdraft.
Payday loans can be cheaper
You may be surprised to learn though that these loans can sometimes work out cheaper than some other options, as highlighted by the Daily Mail.
They can often be fast too
You can typically apply for a payday loan online. If your application is approved and your bank can accept immediate transfers, the money could be paid into your account in a little as a couple of hours with some providers.
Are you eligible?
To qualify for a payday loan, typically you’ll need to be:
- resident in the UK;
- over 18;
- in employment with a predictable payday;
- the owner of a bank account with a debit card.
How does it work?
You select the amount you would like to borrow and you’ll typically be able to see straight away exactly what you would have to pay back on your next payday.
Some cash loans providers may also offer the option of repayment on your next but one payday.
A fast credit check may be carried out but because payday loans are for relatively small amounts of money lent over short time periods, you may still be accepted even if you have had credit problems in the past.
If approved, the cash advance is paid directly into your bank account allowing you to deal with that unexpected bill.
Cash loans are repaid automatically on your chosen payday using your debit card details and that’s all there is to it.
