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

Next day cash- Grab quick funds before you received monthly salary
Published by Beidhi Ceeper on June 14th 2012 | Loans
You can now grab instant cash with the aid of next day cash to meet financial needs. In short, this ...
 
Payday loans USA- Avail quick cash and meet fiscal needs now!
Published by Addison Maddy on May 8th 2012 | Loans
With the help of payday loans USA, you have the provision to acquire quick cash up to $1500 to meet ...
 
Quick and easy cash via online for urgent needs
Published by Adam Mcgill on March 19th 2012 | Loans
Cash providers have made such financial aids which can avail via online by filling an online form wi...
 
Personal Instalment loan Bad Credit – Availing Cash with Bad Credit is Possible
Published by Astor Roy on November 26th 2011 | Loans
This personal instalment loan bad credit scheme is only offered for the USA people who stay in USA a...
 
Ez cash loans- Great benefit for borrowers
Published by Ricky Loyel on January 14th 2012 | Loans
Now, you can easily overcome short-term financial issues with the aid of ez cash loans without any h...
 
30 day cash advance loans- Great financial deal to fight uncertainties
Published by Jon Kohli on May 10th 2012 | Loans
By taking 30 day cash advance loans, you can utilize money to tackle cash worries in the least possi...
 
Instant cash loans Australia- meet unexpected fiscal needs with ease!
Published by Taren Bush on May 23rd 2012 | Loans
By availing quick cash via instant cash loans Australia, you can achieve unexpected financial crisis...
 
Money loans- Take quick money and enjoy freedom of cash hurdles!
Published by Karen Flec on July 6th 2012 | Loans
If you are borrowing money with the aid of money loans, you can fight against any financial emergenc...
 
Money loans with bad credit- Get quick cash without any hesitation
Published by Lewis Jasvin on June 29th 2012 | Loans
If you are taking instant funds via money loans with bad credit, you can easily get rid of any kind ...
 
Doorstep cash loans: Easy Cash options for All and Sundry
Published by Kelse Roy on May 25th 2012 | Loans
If you are unable to go anywhere to take money, doorstep cash loans would supply money to you at you...
 
Instant Personal Loans: the quickest way to get a loan in India
Published by Raj Sharma on July 20th 2012 | Loans
Personal loans, today are taken by many people to fulfill their needs and desires. one major area of...
 
Suggestions for instant cash advances
Published by Carolina James on December 9th 2011 | Loans
Cash advances are choices that any person can make use of in existing time....
 
Apply online for bad credit installment loan- Offers quick funds for everyone!
Published by Bailey Molton on June 9th 2012 | Loans
If you are availing bad credit installment loan, you get quick funds up to $1500. This small fund is...
 
Signature loan no credit check- Overcome any financial crisis now!
Published by John Simen on April 23rd 2012 | Loans
No doubt, signature loan no credit check is so valuable for bad credit people who is resident of US....
 
500 cash loans- Great financial help for US residents
Published by Kenim Wids on April 4th 2012 | Loans
If you are looking for availing small fund then it is better for you to take the option of 500 cash ...
 
1500 cash- Wonderful loan to help borrowers
Published by Malen Cheks on April 9th 2012 | Loans
If you have obtained instant cash up to $1500 through 1500 cash, you will achieve fiscal emergencies...
 
90 day loans for people with bad credit- Obtain quick cash in no time
Published by Thoms Stuart on June 2nd 2012 | Loans
By availing 90 day loans for people with bad credit scheme, it is easy for you to overcome cash worr...
 
Fax free payday loans - Useful loan for everyone
Published by Ponting Sarad on July 10th 2012 | Loans
If you are getting quick funds via fax free payday loans, you can overcome cash worries without any ...
 
Secured loan in UK: are an inexpensive economic result
Published by Ian Foster on November 29th 2011 | Loans
Secured loans in UK can be availed by presenting safety beside loan amount and most of the lenders p...
 
Money Till Payday Easy Approval- Get quick cash in no time via internet!
Published by Narten Jonner on May 18th 2012 | Loans
If you are taking instant funds via Money Till Payday Easy Approval, you can meet unexpected financi...