Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Millions applying for pay-day finance in Britain

By David Hurley Subscribe to RSS | January 21st 2012 | Views:
loading
 
  



If what a salaried class person earns is small in amount then it is not possible for him to keep i in his hand intact even in a small sum till the ending of the month. Now a number of lenders have come up who are providing cash help to such kinds of people in the form of pay-day credits. From the year 1996, people applying for this type of a loan service has gone up almost 4 times. This is what Consumer Focus has reported. This has been happening despite of the fact the lending companies are charging a high rate of interest that is as high as 2500 percent in a year.

There are voices being raised that the concerned industry should try and bring in some rules and regulation for the safety of the borrower are not aware. Sarah Books, who heads the financial services at Consumer Focus is of the view that although it is very much safe and legal option to apply for pay day and a person is saved from going to loan shares but it is necessary that a check should be put on the number of loans that one can take and of how many loans can they increase the repayment duration.

According to a research that they had done they revealed that around 1.2 million people have applied for pay-day finance in a year and the sum of borrowed money sums up to 1.2 billion dollars in a year. The trend of applying for a 12 month payday loans @ http://www.12monthloansnofees.co.uk/12-month-payday-loans.html has seen an increase as it is a quick way to get hold of some needful finances to get rid of day to day needs.

If you pay back the money on the very next day then you may find them cheaper even lower than an overdraft that is illegal or credit card charges. And on a contrary if you keep on extending the duration of repayment then there can be an increase in the figures of the debt.

Against all these allegations the experts of the pay-day finance industry have to say that if the borrower manages things they would this options very beneficial and very less risky as well. Though they are an easy way to avail helpful funds but they can be quite expensive. All this clearly means that applying for a payday loans and then handling its repayment depends on the person. It would be beneficial or not it is in your hands.

David Hurley - About Author:
David Hurley is an expert financial advisor. He shares great knowledge in finance. He writes articles on 12 month loans no fees, 12 month payday loans and 12 month loans.

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

Article Source:
http://www.articleside.com/loans-articles/millions-applying-for-pay-day-finance-in-britain.htm

Related Loans Articles Subscribe to RSS

Bad credit payday loans: Get a good finance for your business.
Published by Alexander Thomas on November 26th 2011 | Loans
These finances are for the people who want fast and easy cash facility. Business person can easily a...
 
Secured loans against logbook: smart way of obtaining finance!
Published by Scarlette Riley on February 8th 2012 | Loans
Secured loans against logbook are mainly designed for borrowers, having a vehicle’s logbook on the...
 
Doorstep Loans No Credit Checks - Get simple finance with quick approval
Published by Rechard Thomas on January 7th 2012 | Loans
People have the freedom to use the amount received from doorstep loans no credit check. Doorstep loa...
 
Sort out your petite pecuniary matters through easy finance
Published by Kevin Cook on February 13th 2012 | Loans
There is instant financial service that supplies funds to an individual just by sending a small SMS ...
 
Apply and avail the cash required by you with easy online finance
Published by Stevebavaro2011@gmail.com on March 9th 2012 | Finance
Online finance is the proper platform of getting funds when you are empty handed. So do not think mu...
 
Financial aids for people having negative finance ratings
Published by Jack Grayn on December 14th 2011 | Loans
People who have done mistakes in past relating to the finance and are unable to get funds can now ap...
 
Secured Business Loans: Avail the easiest mode to apply for finance.
Published by Alexander Thomas on December 18th 2011 | Loans
Through these finances applicant can get the cash for the business. Applicant can apply through onli...
 
Payday loans with monthly payments- Enjoy lifestyle with no tension of finance
Published by John Simen on June 12th 2012 | Loans
If you apply for payday loans with monthly payments, you can instantly grab small funds up to $1500....
 
No credit check loans- Assure easy access to finance without any credit check done
Published by Simon Hess on March 12th 2012 | Loans
Expenses are so heavy that they exceed the income earned by the person .It is easy to recover the fi...
 
Tips on loans and finance investment
Published by Pramod Kumar Singh on May 23rd 2012 | Loans
There are different kinds of loans and different investment options. To know about each one you can ...
 
Debtor finance – general considerations
Published by Adair Sawyer on May 11th 2012 | Finance
Many companies find themselves in the impossibility of further developing their business because the...
 
Get easy finance for your new business venture
Published by Macrobusinesscapital@gmail.com on January 21st 2012 | Finance
Do you want to start your own business, which requires funds but don't have idea on how to arrange t...
 
Overcome finance related business issues with a reliable insolvency company
Published by Ashish Pandey on January 16th 2012 | Finance
Any business might go through different kinds of hurdles and when things get out of control it is go...
 
Funds for the fulfillment of short-timed needs despite your worst finance history
Published by Sandra Jeux on December 14th 2011 | Loans
Emergency expenses arises suddenly without any notice and in order to meet them a person goes for fi...
 
Payday loans for 60 days – best opportunities for taking finance
Published by Vilson Louise on April 7th 2012 | Loans
Payday loans for 60 days assist you in sudden cash crises in order that you'll handle your tiny cash...
 
Take the finance as per your monthly salary
Published by Jackfox on May 23rd 2012 | Loans
When you are in search of quick solution of your monetary problem then assistance of Quick Loans wit...
 
Acquisition of helpful funds at the home via online finance
Published by Look Right on March 12th 2012 | Loans
Now the cash is available at your footsteps and you can acquire funds by sitting at your home and me...
 
Avail quick finance for settling unavoidable expenses
Published by Perter Clove on December 20th 2011 | Loans
Many financer provides instant funds without concerning about your past finance history, due to whic...
 
Advisory Service feels that pay-day finance is debt units
Published by Kevin Cook on January 23rd 2012 | Loans
Pay day finance is very famous amongst the people of country and beneficial too at the time of crise...
 
Cheapest Cash Advance Loans – finance help with cheap interest rates
Published by Angelina Jolie on May 25th 2012 | Loans
Cheapest Cash Advance Loans are on the market particularly for the people that face monetary crisis ...