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

Same day loans for bad credit: New Discovery of Loan Market
Published by Samul Louis on June 15th 2012 | Loans
Same day loans for bad credit are the new discoveries of the lending companies to please every poor ...
 
Need Loan Today – get cash on the very same day
Published by Artharris on March 19th 2012 | Loans
If you have ever been within the military you recognize and have seen these nondescript places that ...
 
Credit-ratings are becoming the biggest hurdles in getting finance
Published by Kevin Cook on December 27th 2011 | Loans
The main hurdle in securing a loan today is a borrower’s credit-ratings which may be high or low w...
 
90 day loans- Ultimate financial solution for everyone
Published by Thoms Stuart on May 19th 2012 | Loans
By getting quick amount of funds through 90 day loans, you can easily arrange small financial needs ...
 
Same day bad credit loans instant decision: Fiscal Support in Need of the Hour
Published by Balvin Bart on April 12th 2012 | Loans
Same day bad credit loans instant decision is a deal where no worry of faxing or even to experience ...
 
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....
 
7 day loans- Helpful financial scheme available for 1 week
Published by Bailey Molton on April 3rd 2012 | Loans
By availing instant cash through 7 day loans, you have the right option to fulfill financial needs....
 
90 day loan- Reliable and perfect choice of financial help for everyone
Published by Thoms Stuart on June 22nd 2012 | Loans
By acquiring quick cash with the aid of 90 day loan, you will get instant funds up to $1500. This is...
 
Online same day loans no paperwork: Great Introduction of Fiscal Support
Published by Gillbert Alvi on July 14th 2012 | Loans
Online same day loans no paperwork would be the lovely options to make money when you extremely need...
 
Borrow £500 over 6months – providing finance without any paperwork
Published by Aadam Abbas on July 20th 2012 | Loans
Borrow £500 over 6months assist you to pick that exact finance theme that may be helpful to you in ...
 
Same day loans-Right vehicle to meet urgency!
Published by Onner Roy on December 10th 2011 | Loans
On the other hand, same day loans are also offered to unemployed irrespective of their good or bad c...
 
Same day loans online - Do not wait for longer period for instant money!
Published by Ross Futher on June 21st 2012 | Loans
For you, same day loans online is quite feasible if you need small funds in fast manner....
 
90 day loans: Better Cash Opportunities to Hold Anytime
Published by Zerif Berson on May 15th 2012 | Loans
90 day loans are better cash opportunities to catch with convenient settlement process as well as ea...
 
Same day loans for people on benefits: Sort out Any Issue with No worry
Published by Norwick Kerry on June 15th 2012 | Loans
People with any physical disability don’t need to crush their wishes as they can borrow money with...
 
90 day loans: Perfect Match for Working Candidate
Published by Zerif Berson on June 20th 2012 | Loans
A person looking for some long term cash assistance would find 90 day loans as the best deals of mon...
 
Same day loans- Meet your cash emergencies immediately
Published by Gray Kate on January 23rd 2012 | Loans
Same day loans may provide approval on the same day of making application. Thus, these are the faste...
 
90 day short term loans- Use money for 90 days
Published by David Hassia on June 16th 2012 | Loans
If you want to use money for 90 days, it is better for you to avail 90 day short term loans in order...
 
90 day loans for bad credit- Grab the best option of financial aid today!
Published by Alesia Ace on November 26th 2011 | Loans
If you really fall in trap of finances then the best way is to obtain 90 day loans for bad credit to...
 
45 day loans- Manage your monthly budget with ease!
Published by Bailey Molton on June 5th 2012 | Loans
By availing instant funds via 45 day loans, you can instantly resolve fiscal worries without any has...
 
Same day loans no credit checks-Ideal choice of cash help for you!
Published by Aldis Roy on May 9th 2012 | Loans
By getting fund from same day loans no credit checks, you have flexibility to fulfill any financial ...