Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home1/haradeep/articleside.com/configdb.php on line 8

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home1/haradeep/articleside.com/article.php on line 88
Pay Day Cash Loans – Why are They So Popular?

Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Pay Day Cash Loans – Why are They So Popular?

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



Pay day cash loans are a rapidly growing industry in the UK and generate hundreds of millions of pounds in revenue each year. This rise in popularity could be a result of the recession, which has subjected many people to pay freezes, while the cost of everyday necessities continues to rise.

The idea is that people can take out a small loan and pay it back when their pay cheque arrives. This means pay day loans can be a quick fix for a short term financial shortfall.

Many companies offering this type of loan operate online, which makes for a speedy loan applications process. The cash is often transferred quickly too – within 24 hours for the most part. This speed and convenience sets pay day cash loans apart from high street loans and makes them a popular choice for anyone who needs instant cash for a short time period.

There are hundreds of pay day lenders throughout the UK, which means it’s possible to shop around for a good deal. Typically rates of interest are high – anywhere from 100% to 10,000% APR – which is part of the reason these loans are not suitable for long-term debt management or borrowing beyond a time frame of around a month.

However, for an instant cash injection, pay day loans are very popular and easier to get than a high street loan. If you’re considering taking out a short term cash loan, you’ll need to check that the lender is licensed by the Office of Fair Trading. This licensing means that the lender has agreed to adhere to responsible lending standards – for example, not lending money to people who have no chance of paying it back.

There are certain checks in place to help pay day lenders determine whether to give a loan. In the UK, you’ll need to be over 18, have a valid UK address, bank account and a source of steady income to be eligible.

These measures are designed to determine whether borrowers will be able to repay their payday cash loans. If a borrower has a history of prolonged debt, for instance, the risk of lending to them will be high both for the borrower, who could find his debt spiralling, and for the lender, who may lose the money they have loaned.

Pay day loans are fast, convenient and generally safe ways to borrow. But you should only consider a pay day cash loan if you are in steady employment with a reliable source of income. Otherwise the dangers outweigh the benefits.

Phoenix Payroll Ltd - About Author:
Yorkshirecash.co.uk provides short term 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/pay-day-cash-loans-why-are-they-so-popular.htm

Related Loans Articles Subscribe to RSS

Qualify for a restaurant loan with Visa/Mastercard
Published by Mathias Scott on May 14th 2012 | Loans
The restaurant business is a tough one considering the kind of competition one has. Being able to ra...
 
Urgent cash now available at your footsteps in easy way
Published by Look Right on March 19th 2012 | Loans

Clear all your debts and get out of all financial worries with the help of online financial aids...
 
Need cash now UK – best scheme for UK society
Published by Alvin on March 30th 2012 | Loans
Need cash now UK are by way the simplest technique to avail make the most times of want. You pay it ...
 
Direct loans online payment- Just grabs instant cash online
Published by Jacob Madox on May 2nd 2012 | Loans
Direct loans online payment is considered to be the right fiscal support for bad credit people who n...
 
Business loan- Boon for the beginners Entrepreneurs
Published by Jacob Markus on March 12th 2012 | Loans
A business loan can be very much helpful for you to startup a new business. You can even expand your...
 
Short term installment loans- Easy loan with easy repayment option
Published by Riyt Leson on June 22nd 2012 | Loans
If you are willing to avail quick cash, you can borrow instant funds via short term installment loan...
 
Monthly payday loans- Useful cash support for American
Published by Rocky Ales on April 11th 2012 | Loans
If you have obtained quick cash via monthly payday loans, you are free to utilize the money as per y...
 
Instant Payday Loans UK Bad Credit – designed to satisfy your short term cash
Published by Billy Walker on August 9th 2012 | Loans
Instant Payday Loans UK Bad Credit is aptly instant in nature with direct cash in your hand comfy. T...
 
Cash Loans to your Door – hassle-free cash for urgent use
Published by Leo Admas on December 21st 2011 | Loans
Cash loans to your door allow you to have quick access to the cash for urgency without any credit ch...
 
500 cash loans- Fast cash support for borrowers
Published by Kenim Wids on March 19th 2012 | Loans
If you have taken quick cash through 500 cash loans, you will fulfill all financial desires without ...
 
Fast cash loans- Fabulous financial plan for you!
Published by Ricky Leyer on July 12th 2012 | Loans
Fast cash loans are considered to be the best financial plans to meet cash crisis. So, never miss ou...
 
Payday loans paid back in instalments- Simple way to procure instant cash
Published by Johnty Bert on March 15th 2012 | Loans
If you are getting quick cash from payday loans paid back in instalments, you can manage small funds...
 
Home loan – a tool for every desirous heart 
Published by Axisbank on June 11th 2012 | Finance
It is said, “Home is where the heart is”. However, for a middle class person in India, getting a...
 
Installment payday loans- Great beneficial loan option for everyone!
Published by Albert Bells on July 19th 2012 | Loans
Nowadays, installment payday loans are available with attractive loan quotes online. So, you can eas...
 
Payday text loans quick cash to tackle an urgent expense
Published by Andric Jones on December 8th 2011 | Loans
Payday text loans are fast obtainable by making a text massage to the lender from your mobile phone....
 
Payday Loans today – catch cash today
Published by Artharris on February 4th 2012 | Loans
Payday loans today find approved in similar day of applying due to the involvement of negligiblerule...
 
Get cash today- takes your financial worries away
Published by Danny Heiskanen on April 17th 2012 | Loans
Get cash toady are hassle free simple loans which gives you cash in least possible time via online. ...
 
Payday UK - Payday loan lender assessment
Published by Ian Foster on December 8th 2011 | Loans
Through Payday UK company there is no arrangement fees or hidden fees when obtaining your personal p...
 
Payday Loans in an Hour – cash as a life savior
Published by Jackson Hall on July 28th 2012 | Loans
Payday Loans in an Hour is merely an agreement between you and therefore the lender to supply you th...
 
Reduce your installments with debt consolidation loan
Published by Eric Brown on December 1st 2011 | Loans
100% acceptance. No broker fee. Bad credit or good credit, you will find a loan that will suit your ...