Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

How to Use UK Payday Loan Lenders for Safe, Secure Borrowing

By Phoenix Payroll Ltd Subscribe to RSS | May 3rd 2012 | Views:
loading
 
  



Life is full of uncertainty, including last minute expenses that your monthly budget may not cover. When the car breaks down, for example, or your bag gets stolen. Or perhaps your best mate decides to hold his stag do in a 5* hotel in Prague.

Sometimes you can plan for these eventualities, but sometimes they take you by surprise and you need a little extra cash to tide you over until the next pay check arrives. This is what payday loans are designed to help with.

Payday loans are short term loans administered by a direct lender or payday loan lender. What began as a US phenomenon has become increasingly popular in the UK – partly because of the recession, when fewer people have ready spare cash to cover unexpected costs.

Payday loan lenders offer a fixed amount, usually between £100 and £1,000, which you can borrow until your next payday, when the money is returned to the lender alongside a standard flat fee or rate of interest.

What makes these loans different to those available from regular banks is their speed and convenience – online payday loan lenders offer a decision within minutes and can often transfer the money to your bank account within 24 hours. Unlike banks, these decisions don’t rely on borrowers having a good credit rating.

Because of this, the attendant risks are higher for the loan lender than traditional long-term loans. For this reason, fees are generally higher too, to offset the risk of borrowers defaulting on their loans. The fee often varies according to the amount borrowed – the larger the sum, the higher the fee.

Most UK payday loan lenders will publish their fees on their websites so you know the costs involved upfront. They will base their decision about the amount lent on the borrower’s income, to prevent loan applicants getting into too much debt. They will also only lend to applicants who have a steady income.

Payday loans are meant to be a short term solution rather than a long term payment plan. Because of this, reputable lenders in the UK administer other checks and limitations to ensure their clients do not perpetuate debt that they cannot return.

These checks or safety measures can include limits on the value and number of repeat loans, affordability checks carried out before a loan is made, and fixed payment dates to avoid debt being carried over and incurring higher fees. Many UK lenders will share information with other lenders to ensure people are not borrowing more than they can afford from multiple sources.

Phoenix Payroll Ltd - About Author:
About Us
Yorkshirecash.co.uk provides short term cash loans to the UK, giving you a break when you need it most. We lend up to £400 in cash, which you pay back on your next pay day. We are licensed by the Office of Fair Trading and we won’t lend you money unless we truly believe you are capable of repaying it, so you can be sure you’re in safe hands. Find out more at http://www.yorkshirecash.co.uk/

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/loans-articles/how-to-use-uk-payday-loan-lenders-for-safe-secure-borrowing.htm

Related Loans Articles Subscribe to RSS

No credit check no fax payday loans-Great reliever of financial worries!
Published by Adam Felix on December 7th 2011 | Loans
By getting No credit check no fax payday loans, you will easily solve your financial problems withou...
 
Check cashing payday advance- Financial facility for borrowers
Published by Alton Bells on June 12th 2012 | Loans
If you are taking instant funds via check cashing payday advance, you have the opportunity to fight ...
 
No fax payday loans- Instantly approve to offer you quick cash
Published by Baldwin Will on June 27th 2012 | Loans
By availing no fax payday loans, it is possible for you to meet unexpected fiscal worries in no time...
 
No faxing payday loan: Money Approved with Easy Features
Published by Albann James on May 9th 2012 | Loans
No faxing payday loan is the monetary assistance that is approved without collateral and no credit v...
 
Monthly payday loans- Ultimate way to avail quick cash before your payday
Published by John Simen on June 27th 2012 | Loans
By availing quick cash through monthly payday loans, you will easily overcome cash hurdles even in t...
 
Secure payday loans- Get quick money by using collateral
Published by Richard Abbe on July 4th 2012 | Loans
If you are taking secure payday loans, it is easy for you to avail quick funds within few hours. The...
 
Christmas payday loans- Enjoy the awesome moment of Christmas!
Published by Alex Abigil on January 4th 2012 | Loans
Christmas payday loans are great assistance for people who want to enjoy awesome moment of Christmas...
 
No faxing payday loan: Get your Money Approved with No Document
Published by Albann James on March 24th 2012 | Loans
When you don’t see any opened way to get into fiscal support, you can take extreme support of no f...
 
Long term payday loans- Valid for long term use of money
Published by Freddie Lee on May 8th 2012 | Loans
By availing instant funds via long term payday loans, you may fight against multiple financial expen...
 
30 day payday loans- Great financial help available for 1 month
Published by Bailey Molton on April 17th 2012 | Loans
The availing fund from 30 day payday loans is useful to meet your monthly financial budget....
 
No fax payday loans- to assure you fast cash in financial difficulties
Published by John Carry on March 16th 2012 | Loans
The no fax payday loans comes with a full assurance to the bad credit holders that they will no more...
 
Advance payday loans- Easy to procure quick money
Published by Alan Cruzs on May 7th 2012 | Loans
By availing advance payday loans, you can achieve fiscal worries without any risk....
 
Advance payday loans- Additional amount of funds for borrowers
Published by Alan Cruzs on March 24th 2012 | Loans
If you are taking quick cash through advance payday loans, you can arrange short-term financial need...
 
60 day payday loans- Right option of financial plan for you!
Published by Karen Rase on May 7th 2012 | Loans
If you are wishing to avail 60 day payday loans, you can search online today. This is a great fiscal...
 
First payday loans - Fast and easy way to acquire money
Published by Baldwin Will on June 13th 2012 | Loans
If you are availing first payday loans, you may be getting rid of any financial worries at any cost....
 
Fax free payday loans - Useful loan for everyone
Published by Ponting Sarad on July 10th 2012 | Loans
If you are getting quick funds via fax free payday loans, you can overcome cash worries without any ...
 
Teletrack payday loans- Grab quick money without any delay!
Published by Malen Cheks on June 14th 2012 | Loans
No matter what bad credit record you may be suffering from, you can access to avail teletrack payday...
 
No credit check payday advance- Great fiscal plan available online
Published by Albert Bells on May 19th 2012 | Loans
If you borrow quick cash via no credit check payday advance, you can meet unexpected financial traum...
 
Pounds till payday- Financial help till your next payday
Published by Alfred Golf on January 23rd 2012 | Loans
Get Pounds till payday loans and resolve any financial crisis that you meet before the next payday i...
 
Small payday loan- Resolve any cash worries within few days
Published by Abell Bush on June 19th 2012 | Loans
If you have taken instant funds via small payday loan, it is quite easy for you to utilize the money...