Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Payday Loans: a Simple Way to Meet Life’s Unexpected Expenses

By Phoenix Payroll Ltd Subscribe to RSS | May 3rd 2012 | Views:
loading
 
  



A payday loan is a short term loan which allows you to borrow a small amount of cash which you return on your next pay day.

The concept began in the US but is becoming increasingly popular throughout the world and especially in the UK as a simple solution to a short term financial problem such as an unexpected bill or an important and expensive event. For example, you may rely on a car to travel to work and find out that it needs emergency repairs or risk breaking down.

In cases like these, it’s not always possible to wait until pay day to meet necessary expenses in time and you may need a little extra cash to tide you over in the meantime. Where banks are generally unable (or unwilling) to lend the odd fifty quid here and there, payday loans can provide an easy bail-out.

So how does it work? The basic idea is quite simple – the applicant sets the amount they would like to borrow, then sets the repayment date (generally, the date their pay cheque is due). The loans provider will then either approve or refuse the request.

What sets payday loans apart from traditional credit and longer term loans is their speed. Loans providers are often able to provide an instant decision about whether or not to lend based on predetermined criteria, and payments can be made within 24 hours, depending on the borrower’s bank.

The amount you can borrow usually depends on how much you earn, although broadly speaking most loans range from £100 to £1,000. Applicants with very low earnings may be refused a loan entirely or able only to take on a small amount of debt at any one time.

Measures such as this are designed to safeguard the interests of both lender and the borrower –ensuring that loans will repaid on time and avoiding borrowers getting into more debt than they can manage.

The fees on payday loans in the UK are flat fees rather than interest rates, and vary according to the amount of money that is borrowed. Generally speaking, the bigger the loan, the higher the fee.

Besides setting a limit on the amount of the loan, there are also some basic requirements for the loan applicant, to determine that they will be able to pay back what they have borrowed. Applicants for a payday loan in the UK must be at least 18, be a current resident of the UK, have a bank account and be able to demonstrate a steady, verifiable source of income.

Phoenix Payroll Ltd - About Author:
About Us
Yorkshirecash.co.uk provides short term pay day loans to 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/payday-loans-a-simple-way-to-meet-life-s-unexpected-expenses.htm

Related Loans Articles Subscribe to RSS

Instant unsecured loans: Swift and Instant Money Support
Published by Kelvin Lopez on June 1st 2012 | Loans
Instant unsecured are the suitable deals to borrow money for any basic or urgent issue without compr...
 
First payday loans - Fast and easy way to acquire money
Published by Baldwin Will on June 13th 2012 | Loans
If you are availing first payday loans, you may be getting rid of any financial worries at any cost....
 
Hard money loans- the Best Ever Option
Published by Frenk Lewins on February 25th 2012 | Loans
Year after year world community is getting high tide jolts in the form of economical crisis....
 
Cheap payday loans- Best alternative to meet redundant situation
Published by Denis Deny on December 6th 2011 | Loans
Cheap payday loans are supposed to be great financial solutions for quick relief of financial crunch...
 
Short term bad credit loans- an immediate cash help for borrowers
Published by Micles Jonson on June 14th 2012 | Loans
The short term bad credit loans is supposed to be ultimate fiscal solution for American who need imm...
 
1000 payday loans:- Get funds to get rid of financial problems.
Published by Thom Lee on March 15th 2012 | Loans
1000 payday loans became the foremost wanted loans within the UK owing to their quick and simple ava...
 
Payday loans no checking account- Easy Loan for No Bank Account Holders
Published by Michael Pushkin on February 1st 2012 | Loans
Payday loans no checking account is a unique way of financial assistance to those who doesn’t have...
 
Payday loans Canada- Easy and convenient to obtain quick money
Published by Aden Jon on July 12th 2012 | Loans
By taking payday loans Canada, you have the provision to obtain quick funds to meet cash worries. So...
 
Car log book loans- Avail quick funds to combat fiscal worries
Published by Abnre Cassa on January 17th 2012 | Loans
With the aid of car log book loans, you can now get huge sum of money to endorse your economic worri...
 
Money loans today: Unlock the Ways of Money
Published by Karen Flec on April 7th 2012 | Loans
Money loans today would unlock the quick door of money towards you and you would be able to fulfill ...
 
Same day cash loans within a few short seconds
Published by Angela on January 4th 2012 | Loans
Same day cash loans are the most interesting and quickest kind of advances as they will always help ...
 
Direct deposit payday loans- Check your account now!
Published by Gorgie Nork on April 11th 2012 | Loans
By acquiring instant funds through direct deposit payday loans, it is possible for you to manage fin...
 
Small loans- Tiny fund but useful to meet cash crisis
Published by Conner Abel on July 6th 2012 | Loans
By acquiring quick cash via Small loans, you have the option to meet unexpected cash crisis with eas...
 
Money loans for bad credit- Good monetary aid for everyone
Published by Vikon Nail on June 23rd 2012 | Loans
With the aid of money loans for bad credit, you can acquire instant funds up to $1500. Thus, you can...
 
Instant loans for unemployed- Cash offer for unemployed
Published by Abnre Cassa on November 25th 2011 | Loans
With instant loans for unemployed, you can fulfill your financial hurdles without taking any risk....
 
Bad credit loans now- Receive Bad Credit Loans Now
Published by Ryan Harten on November 28th 2011 | Loans
You can contact us at Bad Credit Loans Now and we are ready to help you with suitable loan deal. By ...
 
Payday loans for people on benefits: Good Fiscal Deal to Meet Vital Needs
Published by Norwick Kerry on April 5th 2012 | Loans
Payday loans for people on benefits are the soothing deals of money, which can bring comfortable mon...
 
Small loans for people with bad credit- Achieve unexpected financial needs with ease
Published by Narten Jonner on June 2nd 2012 | Loans
In fact, small loans for people with bad credit scheme are usually very much useful for those salari...
 
Title car loans- Borrow money with the value of your car
Published by Riyt Leson on May 21st 2012 | Loans
By getting quick cash via title car loans, you can easily fulfill unexpected financial worries with ...
 
Instant loans Canada- Unique cash assistance of many borrowers
Published by Aden Jon on May 22nd 2012 | Loans
By availing quick cash from instant loans Canada, you can overcome unexpected fiscal worries without...