Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Instant Cash Payday Loans: Friend or Foe?

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



Type ‘instant payday loans’ into Google and you’ll get over a billion results. Some are links to payday lenders (who naturally think payday loans are a good thing), and some to discussions about loans and lending in general (where opinion is pretty divided).

Depending on whom you believe, instant cash loans are either a fast, convenient and safe way to meet life’s unexpected expenses or a disaster waiting to happen – the slippery edge of the never-ending precipice called spiralling debt.

So which is it? Are payday loans a harmless means of helping you out of a tight spot or the beginning of the end? Unfortunately, all loans, whether long-term borrowing solutions authorised by your bank, or short term cash injections like payday loans, have an element of risk.

Payday loans certainly sound great – the idea is that you can borrow a small amount of cash for around a month and pay it back when your pay cheque comes in. Lenders can transfer the money to your account within a few hours, and you can choose when to pay it back. There’s a fee, of course, but it’s quoted upfront, so you know exactly how much you owe right from the start.

So payday loans are certainly convenient. But are they safe? Ultimately, the decision to take out a loan is yours alone, and should never be taken if you can’t afford to pay back what you borrow. That said, any lender has a responsibility to do their utmost to make sure they don’t lend money to those who have no chance of repaying it.

Payday lenders in the UK generally have checks in place to confirm that loan applicants have a regular source of income, a valid UK address, a bank account with money available in it, and a current email address and phone number. Without these things you won’t be eligible for a loan as the risk – both to you as a borrower and to the lenders themselves – is too high to be viable.

The flipside is that instant cash loans are – well – instant. Once your loan application is approved, most payday lenders in the UK will get you the cash within 24 hours, which is important if you need extra money quickly. Unfortunately, interest rates rack up just as quickly, which takes some of the gloss from the concept.

So are instant payday loans worth it? Borrowing of any type carries some risk, and instant cash loans are definitely not a long-term solution to financial problems. But as a one-off cash payment, they’re generally convenient, safe and hassle free. Just make sure you read the small print.

Phoenix Payroll Ltd - About Author:
About Us
Yorkshirecash.co.uk provides Instant cash payday 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-payday-loans-friend-or-foe.htm

Related Loans Articles Subscribe to RSS

Short term loans: Get Money Against a Rainy Day
Published by Andra Nail on July 18th 2012 | Loans
Short term loans are the wonderful and awesome loan deals approved for you against your rainy day....
 
Small short term loans- Instant cash support for US borrowers
Published by David Hassia on May 28th 2012 | Loans
Once you have availed quick funds via small short term loans, you can arrange small fiscal needs suc...
 
Doorstep loans for people on benefits: End up Cash Crunches with Ease
Published by Rachel Carson on December 21st 2011 | Loans
Doorstep loans for people on benefits can bring happiness at your face when you are suffering from a...
 
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...
 
Quick payday loan- Borrow Loans Quickly
Published by Dondu Talbot on January 9th 2012 | Loans
Quick Payday acknowledged this problem of potential borrowers and customized its borrowing process c...
 
Monthly payment loans - Easy process to tackle financial issues
Published by Rocky Ales on July 9th 2012 | Loans
By taking monthly payment loans, you will easily fight against any financial emergencies that you fa...
 
Instant online loans same day- the most convenient way to draw quick money
Published by Jacob Madox on July 23rd 2012 | Loans
If you are borrowing quick funds from instant online loans same day, you will be easily resolved une...
 
Secured personal loans: an approved aid against your own collateral!
Published by Keith Kelly on May 31st 2012 | Finance
Secured personal loans as the name clarifies are hassle free option of attaining fiscal aid by pledg...
 
Small personal loans- Take instant money today!
Published by Calvin Dalbert on July 2nd 2012 | Loans
If you are availing quick funds via small personal loans, you can resolve unexpected fiscal worries ...
 
Cash loans- Grab instant funds with ease!
Published by Caron Young on May 12th 2012 | Loans
By availing quick cash via cash loans, you don’t need to worry for unexpected fiscal emergencies. ...
 
No teletrack loans-Easy loan with quick approval
Published by Johnty Bert on December 10th 2011 | Loans
Now, you can get easy loan through no teletrack loans whenever you are in need of additional finance...
 
Installment loans no credit check-Instant cash help without credit verification
Published by Ponting Sarad on November 25th 2011 | Loans
If you want to get rid of any financial crisis then you need to apply for installment loans no credi...
 
No telecheck loans- Great financial assistance for bad credit people
Published by Morgan Sadyu on June 7th 2012 | Loans
No telecheck loans are now available in unsecured form where borrowers will not pledge any collatera...
 
Bad credit instant loans- Get quick money in convenient manner!
Published by Ramsey Bert on June 25th 2012 | Loans
If you are acquiring instant funds via bad credit instant loans, you can conveniently fight against ...
 
Hassle free payday loans- Right choice of financial scheme available online
Published by Ponting Sarad on April 4th 2012 | Loans
If you have obtained quick funds through hassle free payday loans, you are no longer needed to worry...
 
Your fast payday credits- Especially provided for your urgency!
Published by Kelin Smith on December 6th 2011 | Loans
For availing fast loan, you must be a permanent citizen of US who attain above 18 years of age....
 
US payday loan services- Fast service to offer quick cash
Published by Adam Felix on May 21st 2012 | Loans
With the aid of US payday loan services, everyone is capable to avail quick cash without any hassle....
 
Pounds till payday- Ultimate monetary solution for salary persons
Published by Gamin Kils on January 19th 2012 | Loans
At the time of having fiscal crisis, it is better for you to get applied for pounds till payday. It ...
 
Business Start Up loans- Get success in your business venture!
Published by Kelvin Lopez on June 29th 2012 | Loans
If you are going to run a new business, it is better for you to avail Business Start Up loans in ord...
 
Personal loans instant decision- Get quick finance for meeting cash hurdles
Published by Dervin Elbert on July 10th 2012 | Loans
Personal loans instant decision is termed as the best fiscal support for UK residents who are in nee...