Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Instant Cash Pay Day Loans – a Great Short Term Solution?

By Phoenix Payroll Ltd Subscribe to RSS | May 24th 2012 | Views:
loading
 
  



Direct lending payday loans are sweeping the UK as more and more people are considering taking out a short term loan. This short term lending phenomenon originated in the US but is becoming increasingly popular with Brits in need of instant cash to help pay for an unexpected bill or other expense.

Pay day loans provide instant cash to borrowers for a short time – usually less than a month. The idea is that lenders dish out a little extra cash which you then pay back once pay day arrives. These loans are usually for small amounts, say £100, and you can choose when you pay them back.

There are hundreds of lending companies throughout the UK. Many of them operate directly, which means that a customer contacts the lender directly for a cash pay day loan. This has the advantage of being a slick process – as many direct lending payday loans are available online, the application and decision process are very fast.

If a loan is granted, these ‘instant cash solutions’ can be very instant indeed – with some companies transferring money to the customer’s bank account within as little as 15 minutes. Others take around 24 hours, but still, it’s faster than you’d get on the high street.

Convenience is a major selling point of the cash payday loan. However, it does come at a price. UK direct lenders are required by law to publish their rates of interest, which can reach the dizzying heights of 30,000% APR in some instances.

Apart from the odd company with ludicrous rates, the interest rates and fees charged by lenders aren’t quite as scary as they first look. Interest accumulates for every day that a customer has a loan, so the quicker it’s paid back, the less the interest will be.

For this reason, instant cash payday loans really should only be used as a short term solution. Most direct lenders will set a limit on the length of time it takes to pay a loan back to prevent interest rates becoming prohibitively high and protect both the direct lenders (from customers who default on their loans) and the customers (from getting into spiralling debt.)

If you’re considering taking out an instant cash payday loan, check that the provider is licensed by the Office of Fair Trading. This weed out the loan sharks and means they have agreed to adhere to responsible lending standards and have made a commitment only to lend to those who will be able to repay their loans.

Phoenix Payroll Ltd - About Author:
Yorkshirecash.co.uk provides short term cash pay day loans in 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/instant-cash-pay-day-loans-a-great-short-term-solution.htm

Related Loans Articles Subscribe to RSS

Instant cash for me- Get small sum of money instantly without any hurdle
Published by Ponting Sarad on July 13th 2012 | Loans
If you are obtaining quick funds via instant cash for me loan, it is obvious that you can meet any k...
 
Same day loans no credit check- Grab instant cash without worry now!
Published by Aldis Roy on May 24th 2012 | Loans
With the assistance of same day loans no credit check scheme, one can easily get rid of any financia...
 
More profit in 2012 predicted for payday lending firms
Published by DavidVila on February 25th 2012 | Finance
Good news for payday firms as they are going to earn good amount of profit as predicted by many agen...
 
Fast cash 500-crucial financial support
Published by Rocky Ales on April 25th 2012 | Loans
If you want to get quick money then fast cash 500 is perfect for everyone....
 
Need a Payday Loan Fast – when you want to cash very fast?
Published by ElvinLee on May 2nd 2012 | Loans
Need a Payday Loan Fast will leave the make the most your hands during a matter of hours. All you ha...
 
Fast cash check cashing- Helpful to improve your credit status
Published by Richard Abbe on December 6th 2011 | Loans
Fast cash check cashing scheme is the best financial option for borrowers who require immediate cash...
 
Early payday loans: Make Hasty Decision of Getting Finance
Published by Jaren Lese on April 7th 2012 | Loans
Early payday loans would not leave you in any difficulty as they can provide you with money during a...
 
Checkless- Instant reliever of any cash related problems
Published by Jaker Kmith on January 20th 2012 | Loans
With the assistance of checkless loan, you are quite easy to fulfill immediate financial needs....
 
Short term loans for people on benefits instant – cash with super benefits
Published by Andrewanthony on May 31st 2012 | Loans
Short term loans for people on benefits instant are a good chance for borrowers will simply overcome...
 
Need to borrow 500 pound – carry cash for emergency moments
Published by Aadam Abbas on March 29th 2012 | Loans
Need to borrow 500 pound is clearly an excellent possibility accessible to the individuals once they...
 
Cash till payday- Borrow money before you got monthly salary
Published by Abell Bush on June 22nd 2012 | Loans
By borrowing quick funds via cash till payday loan, you have the right option to meet unexpected fin...
 
Teletrack payday loans- Easy cash loan available online
Published by Malen Cheks on May 10th 2012 | Loans
By acquiring quick cash via teletrack payday loans, you have the right option to fulfill unexpected ...
 
1500 cash- Wonderful loan to help borrowers
Published by Malen Cheks on April 9th 2012 | Loans
If you have obtained instant cash up to $1500 through 1500 cash, you will achieve fiscal emergencies...
 
Instant payday loans for people on benefits- Great opportunity for disabled people
Published by Norwick Kerry on July 3rd 2012 | Loans
By acquiring quick sum of money via instant payday loans for people on benefits, you can resolve une...
 
Big payday loans- Avail big sum of money now!
Published by Malen Cheks on June 25th 2012 | Loans
The big payday loans are ultimate fiscal solution for salaried persons who are residents of US....
 
Instant payday loans no credit check- Reliable and unique financial help for everyone
Published by Astor Roy on June 8th 2012 | Loans
By availing quick funds via instant payday loans no credit check, you have the right solution to fig...
 
No fax payday loans- Resolve financial worries now!
Published by Baldwin Will on July 17th 2012 | Loans
By acquiring quick cash via no fax payday loans, you have the right option to meet cash worries....
 
Cheap cash advance- Feasible financial deal available online
Published by Denis Deny on April 28th 2012 | Loans
With the aid of cheap cash advance, you can easily fight against financial crisis with ease....
 
1 hour direct- Ultimate cash support to relieve financial stress
Published by Karen Rase on April 16th 2012 | Loans
In fact, 1 hour direct loan is so easy to avail since there is no requirement of tedious formality f...
 
No fax instant payday loans - Suitable financial help available online
Published by Vikon Nail on July 5th 2012 | Loans
No doubt, no fax instant payday loans are the ideal financial help for you to meet cash hurdles in t...