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

Small short term loans- Quick reliever of cash hurdles
Published by David Hassia on May 18th 2012 | Loans
With the aid of small short term loans, it is quite feasible for you to avail quick funds up to $150...
 
Dollar payday loans- getting approval from the loan arranger do you need quick
Published by Smeeth Michal on June 30th 2012 | Loans
An online application process will let you avail the dollar payday loans. You will not have to pledg...
 
Faxless payday advance - Avail quick funds today!
Published by Andrew Stomes on June 12th 2012 | Loans
With the aid of faxless payday advance, you can get quick cash in order to fight against financial e...
 
First payday loans- Easy to obtain instant funds to meet cash crunch
Published by Baldwin Will on May 19th 2012 | Loans
If you have taken first payday loans, it is feasible for you to grab quick cash before you get month...
 
Urgent loans for bad credit- Overcome any immediate cash worries now!
Published by Vikon Nail on July 10th 2012 | Loans
If you are looking for great deals of loan then it is better for you to avail urgent loans for bad c...
 
Internet payday loans- Speedy financial solution for emergency situation!
Published by Georgia Bart on May 12th 2012 | Loans
By applying internet payday loans, you will obtain instant cash up to $1500. The fund will be helpfu...
 
Fast cash loans bad credit - Greatly unique cash help for borrowers
Published by Albert Bells on April 2nd 2012 | Loans
By taking quick cash through fast cash loans bad credit scheme, you will get instant funds up to $15...
 
Get a payday loan- Easy and convenient way to acquire instant money
Published by Ponting Sarad on July 3rd 2012 | Loans
By getting a payday loan, you can instantly acquire quick funds so that you can easily fight against...
 
No credit check loans- Meet urgent cash needs with no credit check loans
Published by Elrod Mark on December 17th 2011 | Loans
So, without wasting your time, apply for no credit check loans to meet your urgent cash need. We off...
 
Same day payday loans- Easy application and faster approval
Published by Janet Hatta on February 22nd 2012 | Loans
Same day payday loans can provide sufficient financial assistance to borrowers, till their next payd...
 
Fast cash loan today- Cash advance available with 24 hours loan service
Published by Thoms Stuart on July 17th 2012 | Loans
In order to avoid any kind of financial trauma, it is better for you to avail fast cash loan today. ...
 
Fast cash loans bad credit- Get quick cash at your financial needs
Published by Albert Bells on June 13th 2012 | Loans
Any form of financial trauma can be resolved with the aid of fast cash loans bad credit. This loan i...
 
Payday loans Canada- Get quick cash in the form of loan now!
Published by Joen Henry on May 23rd 2012 | Loans
By taking quick cash from payday loans Canada, you have the facility to fulfill unexpected credit wo...
 
24 hour payday loans over the phone- Quick financial help available online
Published by Elbert Jthen on July 25th 2012 | Loans
By taking quick funds via 24 hour payday loans over the phone, you can get rid of any unexpected fis...
 
24 hour on phone payday loan- Avail quick funds to relieve cash crunch now
Published by Elbert Jthen on May 11th 2012 | Loans
With the aid of simple call to lenders, it is possible for you to get quick cash via 24 hour on phon...
 
Cash in 24 hours loans - Unique cash support for everyone
Published by Alex Abigil on May 8th 2012 | Loans
If you have acquired quick cash through cash in 24 hours loans, you may easily combat any unexpected...
 
Instant approval payday loans
Published by Julia Bennet on January 4th 2012 | Loans
No one wants to think about running into financial difficulties but the truth is that such things ha...
 
Advance till payday- Ultimate fiscal solution for you!
Published by Abell Bush on July 3rd 2012 | Loans
If you have any financial troubles before you got monthly salary, it is better for you to avail adva...
 
Quick cash loans now – accessing funds is very easy now
Published by Alvin on March 26th 2012 | Loans
Quick cash loans now are short term cash giving tiny cash facilitate to all or any. You’ll be able...
 
Bad credit loans instant decision- Quick cash assistance for all borrowers
Published by Ramsey Bert on December 14th 2011 | Loans
For those bad creditors, bad credit loans instant decision is the ultimate financial support at thei...