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

Cash payday loans- Obtain quick money within few hours
Published by Jeckel Hery on December 15th 2011 | Loans
In order to fulfill short-term financial needs, it is required for you to apply cash payday loans av...
 
Military installment loans- wonderful way to help many military of us
Published by Ross Futher on June 26th 2012 | Loans
By availing military installment loans, you will obtain quick funds within few hours. With the avail...
 
Payday loans unemployed- Offers quick funds for borrowers
Published by Onner Smith on June 23rd 2012 | Loans
By acquiring quick funds via payday loans unemployed, you can overcome unexpected fiscal worries....
 
Free loans today: Gain Money without Any Fee
Published by William Hafiz on May 7th 2012 | Loans
if you are looking for a loan deal with absence of formality, you can apply for free loans today tha...
 
Signature loans no credit check- Great assistance of your fiscal needs
Published by Baldwin Will on May 18th 2012 | Loans
In fact, signature loans no credit check is a great fiscal solution for those bad credit people who ...
 
Cash loans for bad credit - Fantastic cash help for bad creditor
Published by Thoms Stuart on May 21st 2012 | Loans
If you are obtaining instant funds via cash loans for bad credit, you can overcome financial hurdles...
 
90 day loans no credit check- Really helpful for many borrowers
Published by Alesia Ace on June 7th 2012 | Loans
If you are getting instant funds via 90 day loans no credit check, you can relieve financial stress ...
 
Payday loans in Canada- Reliable financial scheme available for Canada
Published by Aden Jon on July 5th 2012 | Loans
The payday loans in Canada are considered to be the best option for Canadian to enjoy quick funds wi...
 
National payday loans- the quickest way to avail instant funds
Published by David Hassia on April 5th 2012 | Loans
If you have obtained National payday loans, you will never miss out to face financial hurdles. This ...
 
Need cash loans- Get funds and tackle financial hurdles now!
Published by Morgan Sadyu on July 4th 2012 | Loans
By getting quick funds via need cash loans, you can get quick funds up to $1500. The funds are usefu...
 
Same day unsecured loans - Grab quick fund without using any asset
Published by Balvin Bart on January 20th 2012 | Loans
If you are hurdled with cash woes then you can now obtain same day unsecured loans to grab quick cas...
 
No guarantor loans collateral free advances in order to live a prosperous life
Published by on January 24th 2012 | Loans
No guarantor loans are immense advances without security granted to folks who want to eliminate thei...
 
90 day loans- Fight against short-term financial woes now
Published by Thoms Stuart on March 23rd 2012 | Loans
If you are having any financial trauma and cannot be managed by your monthly salary then 90 day loan...
 
60 day loans- Grab quick cash in the least possible of time
Published by David Hassia on May 9th 2012 | Loans
If you have availed instant cash via 60 day loans, it is possible for you to fight against any finan...
 
Same day business loans: Make a Good Start of Your Business
Published by Balvin Bart on July 7th 2012 | Loans
When you are willing to borrow money to run your own empire, same day business loans would be best o...
 
Title car loans- Great financial help using your car
Published by Riyt Leson on December 24th 2011 | Loans
Now, title car loans are supposed to be the easiest way to grab quick money whenever you face emerge...
 
60 day payday loans-Ultimate cash support for everyone
Published by David Hassia on May 25th 2012 | Loans
In fact, 60 day payday loans are great cash solution for many people who are residents of US....
 
Payday loans Canada- Meet urgent need of cash today!
Published by Aden Jon on June 2nd 2012 | Loans
By acquiring quick cash via payday loans Canada, you can achieve small financial issues with ease!...
 
Holiday group payday loans- Enjoy holiday with sufficient funds
Published by Kelin Smith on May 24th 2012 | Loans
With the help of funds obtaining from holiday group payday loans, you have the provision to enjoy ho...
 
90 day loans bad credit: Enjoy Convenient Loan Deal Till 90 Days
Published by Zerif Berson on May 21st 2012 | Loans
If you have lost your good credit history and you are looking for some rapid finance with same tag, ...