guarantormyloan.co.uk

guarantormyloan.co.uk

Unfortunately, this isn't always the case. There are things that pop up in life that we cannot control or cannot schedule to happen. Something could go wrong with your car, your son could fall and break his arm, a pipe bursts. Whatever the case may be, these are unexpected events that occur without any warning and are not in the budget. A few people have the option to go to their banks or lending companies and garner a small loan. Sometimes only a few hundred dollars are needed and getting a loan for thousands is out of the question. These are the times that may warrant a payday cash advance. A reason that these payday cash advances are popular and sometimes an only option is because the majority of lenders do not do credit checks.

In order to obtain a payday cash advance you need to be over 18 years of age, have a credit card or checking account and a steady paycheck. Also, most places require that you make at least $1,000 a month. Let's say that you need a loan for $300. You would need to write a postdated check. The date is usually determined depending upon your pay schedule. The amount of the check would be the sum of the amount borrowed and the interest and the principle on that amount.

Be prepared to pay a high interest rate and principle on a payday cash advance. Also, you will need to be prepared to pay back this entire amount on your next payday. Because of this reason, it is advisable to get as small of a loan as possible so as not to put yourself too far behind with your next paycheck.

Sometimes there are circumstances where you cannot get to an establishment and in those situations an online payday cash advance is an option. In these cases, the amount you need to borrow will be electronically transferred into your bank account from the lender. Of course, there are steps that are taken to verify all of the information that you are providing. The lender would then have to be able to electronically retrieve the amount owed from your checking account on your next payday. This means that you would have to deposit that amount into your account by the date of the postdated check. Some lenders may want to deposit the postdated check that you gave them at the time of receiving the loan the day before your payday. This will ensure that the lender will get your payment. If you are like me and have trouble remembering things that are out of your normal routine, you can ask the lender to fax you a copy of the postdated check for your records and to act as a reminder.

Please keep in mind that payday cash advances need to be made only in the most dire of situations and are not an answer to your financial problems. In fact, taking too many advances has the potential to put you in even more debt than ever before. By paying the extremely high interest rates and principles, you could easily fall into a situation where your paycheck would not cover the amount of the loan and interest. So try not to take advances too often.

Fortunately there are alternatives to the payday cash advances. These are often overlooked or ignored all together, but you can try to get a small loan from a friend or family member or sometimes your employer. In these cases, you can offer to pay interest, but I am sure that it wouldn't be near the rate from a lender. You can also talk to your bank about overdraft, where the bank will cover your account if you go below the amount you have in it. It would be wise to look into these options first and use a payday cash advance as a last resort.

weluvloans.co.uk

weluvloans.co.uk

A payday loan is a short term loan which is provided in return for a post-dated cheque. The post dated cheque would be made payable on the date of your next pay day or maybe the following one. You can either arrange to pay the loan off in full before the due date on the cheque or alternatively allow the cheque to be presented. A payday loan really is an emergency loan when you just do not have the funds to make it through until your next payday. Very often it is some emergency that just has to be paid, example a new heating boiler.

There are some obvious benefits of using a Payday loan in this manner, particularly if you consider the alternatives.

1. - There are fees for a payday loan but costs are probably less than the additional bank charges incurred for exceeding an overdraft limit or the cost of exceeding the credit limit on a credit card or incurring late payment penalty charges.

2. - Payday loans don't affect your credit status because the companies that provide payday loans don't report the information through the channels as other conventional lenders would.

3. - Payday loans are usually granted within minutes and the funds transferred to your bank account. Conventional loans or a special arrangement with your bank would normally take a few days.

Payday loans have been subject to regulation in many countries and without being too specific you should ensure you are in contact with a company approved by the regulators. We all appreciate you are only going to contact a payday loan provider in case of an emergency but the rules are in place in an attempt to prevent people getting into too much trouble. The value of the loan is related to your normal earnings so it should not be easy to borrow way over what you can afford to pay back.

The Obvious Disadvantage of using a payday loan is the cost in percentage terms. If for example your borrowed £200 (or $s) and had to pay back £250 (or $s) in 15 to 30 days time then £50 to get yourself out of real trouble might be money well spent but it represents a huge percentage cost of you could fund the emergency elsewhere.

There are a range of regulations applicable to different countries and states on how payday lenders should behave and what they can and can not do. These regulations vary considerably and payday loans are illegal in some states or countries. How the payday lenders can go about collecting their money if you fall behind with a payment again varies considerably.

Finally a few warning notes:

1. - Please ensure that you read any paperwork or terms and conditions associated with a loan before you make the commitment.

2. - Take time to understand exactly what the loan will cost you if you repay when you anticipate and consider what happens if you get into difficulty. It is critical that you meet your commitments or you could soon face some very large debts.

3. - Do NOT get trapped into a rolling over situation where you are continually getting a new payday loan. The term rolling over is outlawed in several places in the world. Understand your legal rights.

If you do wish to secure a payday loan then you can either contact a local office, if you know of one, or complete an inquiry on-line via the web. A quick search on the web will provide you with a number of alternatives. You should be required to evidence your recent payslip or payslips and these would probably require you access to a fax machine.

mrpayday.co.uk

mrpayday.co.uk

Payday loans are short term loans which are required to be paid back by the next payday. Thus the tenure of these loans is very short, lasting for just 2-3 weeks. The amount of loan is small and can range from £500 to £1500. The interest rate for this sort of loan is on the higher side but since the tenure is very small the actual interest figure does not amount to much.

Payday cash loans, because they are so fast and hassle free, are very handy when there is some sudden expense and there is not enough money to cover temporary but urgent payments. In fact they are the only help available to the people who have a bad credit history and have maxed out on their credit cards.

Benefits of payday loans

Though many people criticize payday cash loans because of their high interest rates but if one were to actually analyse the many benefits it offers to the borrowers, one finds that it is a good alternative financing option especially for those who despite having a steady job can't get any loans from banks.

Some of these benefits are:

o Fast and hassle free processing - approval within minutes and money in the account in 24-48 hours.

o Easy to apply - no need to run to the bankers, just fill up an online form from the comforts of home or office and you are on.

o Nil paperwork - no need to furnish any documents proving your identity etc.

o No credit check done - all you need is to possess a steady job and a valid checking account and since no check is done on past credit history, people with bad credit history can get the loan.

o Easy repay - you just need to furnish a post dated cheque or arrange for auto-debit from the bank account to repay the whole amount with interest thus there is no need to keep the bank account ready each month for the next installment.

o Easy terms - no need to furnish any sort of security and if you feel unable to repay on time just ask for an extension which is easily provided against a fee.

Comparison with personal loan

Though there are two major differences between personal loans and payday loans - the size of the loan and the tenure of the loan, if the required amount is small and need is just short term payday loans score over personal loans on the following points.

Urgency - Getting approval for personal loans is a long drawn out process with its taking anything between 5 to 15 days. So it is not a viable option when the need is sudden and now. On the other hand payday loans take just minutes to get approved. And you can actually have the money in your account within 24-48 hrs of applying.

Procedural ease - Banks require a lot of documents such as income proof, identity proof, residence proof etc. from the borrower to process the loan. Apart from that there is a stringent credit check involved. On the other hand, there are no documents required for payday loans. You just need to have a steady job and a checking account.

babyloans.co.uk

babyloans.co.uk

As the credit crunch starts to bite in the UK with Fuel and food costs rising more and more people are finding that a small emergency such as their car breaking down can leave them short of money until they get paid. Payday Loans are becoming more and more popular for short term borrowing to get over these emergencies.

What is a Payday Loan?

When times are tight Payday Loans are a very simple and hassle free way to get a short term loan until you get paid. They are recommended to be used for short term emergency borrowing . As an example, if you have to travel to work by car due to public transport not being an option. You have a break down and you can't get to work, catch 22, no car, no work therefore loss of pay - a viscous circle. A Payday Loan may be the answer. You can apply and get the money the same day paid into your bank account.

How do payday loans work?

Very simple. Using a simple on line form on the you can apply in five minutes. There are no credit checks and you can have the money the same day. The requirements are:-

·         You must be over the age of 18

·         Your monthly earnings must be over £750 per month and you must be in full time employment

·         You have to have a Bank account with a debit card, the debit card is used to recoup the loan once you have been paid

Who can get a Payday Loan?

You are likely to qualify if you are over 18, in full time employment and your earnings are over £750. You will also have to have a bank account and debit card.

What information do have to supply?

Generally the simple on line form requires the following information:

·         Your basic details such as name and address Your date of birth Your contact telephone numbers and email Your work and salary details Your bank account and debit card details

Why do the Loan Companies need all this information?

All Loan Companies have to act in a responsible manner and they need this information to verify:

·         That it is you taking out the loan and not someone else using your name

·         That you are in full time employment and able to repay the loan, if not in full time employment they will not give you the Loan

·         That they put the money in your account and no-one else's account

·         That you can repay them in a simple and hassle-free way by using your Debit card details.

How long does it take?

5 Minutes, literally. All you need to do is fill in a simple on line form. The Loan company will generally give you an instant decision once you have completed their simple on line form. Once approved the money will be deposited into your account the same day. Please note with some banks it may take 1-3 days for the money to clear.

How much can you Borrow?

satsumaloans.co.uk

satsumaloans.co.uk

Payday loans should be used as a short term loan, that you can use to help you through difficult times when you are short of money. Before taking out a payday loan, you need to know the costs of doing so, this will stop you losing a lot of money in interest rates. In this article, you can have a quick overview of just how a payday loans works. Additional facts and information about the correct use of them and safe business deals will also be tackled in this article.

Definition Of Payday Loans

Payday loans are loans that are normally applied for by people who are in need of some quick cash. Payday loans are there for when you are temporarily short of money and need some for an emergency. The normal time frame for a payday loan is about a couple of weeks. This only applies if you ask to borrow a small amount, like a couple of hundred dollars.

When you apply for a payday loan, you will usually have to write a cheque out for the amount to be borrowed, which also include a fee and interest. This will then have to be left with the lender.

But what will happen you you do not repay your loan on time? Well you can have the loan extended or rolled over, if you wish not to you do not have to repay it all at once. But it should be noted, that if you do not repay it all at once, you will find that your fees keep on accumulating at an alarming rate.

Payday Loans Costs

In general payday loans are quite an expensive way to borrow money. People who do take this route to borrow money pay a annual percentage rate or APR that amounts to an overwhelming percentage. As an example, if you have borrowed $200 to be paid back in two weeks, you can pay a fee of $40 and if you do not repay the borrowed amount and the fees in that time, you may find it very disturbing that you will have pay a ever increasing interest rate. This kind of percentage can be quite alarming, especially for those who are only able to make repayments of a set amount that there budget will allow.

Pitfalls Of Payday Loans

One of the main pitfalls of payday loans is that when you take one out it does not really solve your problems. They can make the problem even worse, this is because of the high interest rate you will be charged. Regardless of what your problem is, the loan company will not really care as long as you make your repayments. Because of the high interest rate you are charged on what you have borrowed, instead of helping you it can very often pull you down.

Although, in an emergency or a time of crisis, payday loans can be very useful. You need to consider all the risks before applying for one. At certain times payday loans do make a lot of sense, especially if you are in desperate need of some quick cash. This would only apply to short term payday loans. There is a total difference with long term payday loans.

Problems will arise, if the cheques you have written out to the loan company bounce. This will appear on your credit file and report. The result? You will find that very few banks are willing to deal with you.

Payday Loan Alternatives

There are plenty of alternatives to payday loans. These are a few:

o Having your own emergency cash or savings fund, but this one is often easier said than done.

o Open a credit card for emergency purposes, again this can be dangerous, as a lot of people will just end up using        the card anyway.

o Get a part time job (but this may take some time and will not be very helpful when a on the spot emergency arises)

o Consider a peer lending service for a better and more honest deal.

beeloans.co.uk

beeloans.co.uk

We'll start with the most common question of all when it comes to payday advances.

1. What is a payday advance?

A payday advance is simply that. A loan you receive and pay back by your next payday. There obviously is more to it than that so let's move on.

2. Why is this different than a bank loan?

Bank loans require a good deal of paperwork, questions into your personal finances and then days for approval. Payday loans have little, or no paperwork upon application.

There are online lenders that tout they are faxless loans. There are not questions regarding how much you make per month, what your expenses are or any other personal information that you may or may not be inclined to disclose. Your approval is usually done in minutes.

This is possible because payday loans have different lending laws than do banks. And payday lending institutions have limits on how much they can lend you. For instance, most loans don't go higher than a couple thousand dollars.

3. What are the interest rates for payday loans?

Interest rates are fairly comparable to banks. They may be a bit higher because of the convenience you are buying into just to get the loan. Although, I need to point out that the interest rates when compared to banks APR's, the numbers may be staggering. And a lot of time, that is where peoples attention stops and they forget to learn why.

As was mentioned earlier, payday fast cash loans are SHORT TERM loans. They were not designed to be long term and any lender that encourages you to get one long term, may be scamming you. If not, then look at their interest rates to be sure you are getting a better deal that won't cost you more money than your loan in the future.

Short term interest rates are carried into any time that you default. Meaning, the longer you take to pay back the loan, the longer you are paying those high short term interest rates and then it is not very long before your original loan is much larger than when you received it.

4. What is the application process? What do I need to attain a payday loan?

The application process is so simple you may just laugh. Obviously they need your personal and contact information. They will require so many paycheck stubs to prove you have consistent work to pay the loan back on your next payday. And then finally, a post-dated check from you to be cashed on the day you have been paid and pay the loan back in full.

If you want a direct deposit, which has become so popular these days, you will need proof of a bank account. That is it. You can work it out with your specific lender how you pay it back. You can set up that time for your next payday. There are people who write their post-dated check for half the amount and then another for the date of their next check. Those details can be worked out with your lender.

5. What if I have bad credit?

Even if you were just turned down for a loan at a bank, you could still walk into a payday lending office and be approved for a loan. If you have all the requirements we just talked about; pay stubs, address, SSN, etc, then you are in the clear.

www.amigoloans.co.uk

www.amigoloans.co.uk

As Americans, we have adopted a lifestyle that doesn't encourage saving and almost glamorizes debt. It has become easier than ever to find money for life's little emergencies. While everyone has an emergency from time to time, the companies that offer financing for these situations often start a vicious cycle of debt. Once you have maxed out your credit cards and spent that money you were saving, this is the inevitable time that you will have your car break down, or you will need to get to the doctor's office... the list of emergencies can be endless.

Many people have entered the payday loan centers, where it seems like a quick fix until payday to borrow a few hundred dollars for a seemingly small amount. The 17% doesn't seem like a big price to pay to get you out of a bind, but what many of these people don't realize is that totals up to a staggering 400% in a year! This can quickly escalate into a burden for the middle and lower income families who use these services. If you want to know how to get out of this payday loan debt, the answers are simple - even though sometimes changing the behavior isn't.

The first thing you have to do is to stop borrowing money. The deeper you dig the hole, the harder it is going to be to fill it back up. Once you have stopped borrowing, you may realize that you don't have it in your budget to pay everyone back. Don't stress about this too long. Instead, make a plan. Once you are unable to make these payments, the phone calls will start from your creditors. Stand your ground, and pay the essential things first (house, electric and water). You may have to make substantial lifestyle changes to pay everything back (such as not eating out), but the end result will be freedom.

Once you have committed to get out of your payday loan debt, put a set amount of money aside for emergencies. This will help you to avoid going back to borrowing, thus defeating your plan of becoming debt free. Some people recommend $1000, and this is a good starting point. Don't make it easily accessible, and get it done as quickly as possible. Sell items you don't need, get a second job, or find creative ways to generate this revenue. Once you know you can fix the car if it breaks, it makes it much easier to attack the advance debt.

Make a list of all monies owed, as well as recurring payments. Basically, you are making a long-term budget. So many people don't actually do this, and that is how they have ended up in debt. If you have the ability to roll all the smaller debts into one payment, that's fine but not necessary. Know what your smallest payments are, and eek out as much money as you can to pay that smallest debt off. Once you have that smallest debt paid, start applying that payment to your next largest payment. This is known as "snowballing" debt. Throw any extra money you can find at the debt so that the interest stops once it's paid off. Keep a list so you can see how much you have paid off. You might be amazed.

www.suitsyouloans.co.uk

www.suitsyouloans.co.uk

So you have never had a payday loan and you thinking about getting one. You have seen your friends use them (or abuse them). You have heard all kinds things about cash advance loans and your not sure if its right for you. In this article we try show you when a payday loan makes sense and more importantly when it doesn't make sense.

Scenario 1. It's Thursday. You have no cash and payday is 8 days away. Your credit cards are maxed out . You have planned a big date with your significant other tomorrow night. You have got great reservations and your going to hit your favorite clubs afterward. All you need is cash for a perfect night. You don't want your friends to know your out of cash so you don't ask them for some. You know in the back of your head, all you gotta do is fill out payday loan application and if approved you have got $500 in your account in the morning. This is the easy thing to do. You go to your computer, reach for the mouse, and find a payday loan website. There is no stopping your Friday night.

Is Scenario 1 the right decision? Payday loans are not to help you get your groove on. They are for emergency situations. Paying for a date is not a good reason to get a cash advance. As a general rule you should always pay cash for entertainment. Don't even use Credit cards for entertainment?

Scenario 2. You're car broke down and you have no cash. A mechanic tells you that the timing belt and water pump need to be replaced. The total cost is $450 and the garage wants cash to fix it. You have to work all week and you have to get to work to keep your job. Your credit card is maxed out, your parents won't lend you money and your friends don't have the money to lend you. You need the car to get to work. There is no way around it. You go back to your payday loan store you have used before and they give you a discount because your a customer in good standing. You get a $500 cash advance at a discounted rate because you are a good customer. You get your car fixed, and save the extra cash to pay back at your first paycheck.

Is Scenario 2 the right decision? Yes. You need the car to continue to get income which is very important. Since you had no other options with friends and family, and you had a good relationship with your payday lender, getting the cash advance saved you from a greater disaster in the future. No Income. Additionally, saving the additional principal to pay back on your cash advance at your first payday gives you good leverage to pay down your cash advance early, thus saving extra finance charges.

Scenario 3. You just wrote 3 $100 checks that you know you don't have the money to cover in your checking account. The bank charges $30 per bounced check and merchants charge $25 per check. You calculate that the bounced checks will cost you $30 X 3 = $90 in Bank Charges + $25 X 3 in Returned Check Fees for grand total of $165 in fees. You know you can get a $300 payday loan from your local cash advance store for on a $90 finance charge. This is a $75 savings over letting the checks bounce. You go to the payday loan, fill out an application for a $300 cash advance. You promise yourself to payback the loan on your next pay date.

Is Scenario 3 the right decision? Yes. The savings is obvious with the payday loan. The trick here is to pay back the payday loan on the first pay date. if not, its still maybe cheaper using the payday loan. It depends on many factors such as the number of times the merchants re-present your check and your bank's fee policies.