Category Archives: Payday Loans

When Do You Actually Need a Payday Loan?

Payday loans represent a quick and easy way to get some cash on your hands. This is not the type of loan you get to buy a new car or perhaps a home. Instead, it is suitable for small expenses that simply cannot wait. Here are some of the most common situations wherefore you might need to apply for a payday loan.

Unexpected Bills

You have just received a bill that you forgot about. Perhaps your phone bill has doubled up, as you had to make some urgent international calls. Or maybe your heating bill is way higher than normally – last month was a bit colder than usually. No matter what kind of bill you receive, a payday loan will get the money in your account within a couple of hours only. Therefore, you can get rid of it without risking any fees.

Medical Emergencies

Got a medical emergency? A bad tooth? A toothache that you simply cannot delay? Whether it is a more aggressive flu that keeps you off work for a week or you simply end up with a broken arm, medical expenses can add up. Sure, most of the treatment could be free, but you will still have to spend some money on transportation, medication and so on.

Bad Timing

If your rent is due on the first day of each month? If it falls on a weekend day, some companies charge it the day before. But what if your employer pays you on the next Monday? What if the rent is due a couple of days before getting your wages, only because of a bank holiday? What if you are paid weekly and your planning is messed up because of a day or two?

A payday loan could help you prevent unpleasant calls from the landlord or perhaps some fees. You will get the money within hours only. You can pay it back as soon as you get the wages. Obviously, the interest and fees will be insignificant over a few days.

Shopping Sessions

You kept an eye on those boots for months. The season is over, so you are expecting a discount. You keep checking them on a daily basis and you notice a 50% discount just a week before getting your wages. You know that by the time you get some cash in, your favourite boots will be gone. It makes no difference if it is one thing in particular, Black Friday falls days before your wages come in or the Boxing Day is at the wrong financial time of the year for you.

A payday loan can help you get your hands on some nice things without having to worry about waiting for your wages. Make sure you pay the loan back as soon as you get your money, only to prevent further fees and expenses.

All Kinds of Emergencies

Pretty much any type of emergency can do with a payday loan, especially if you are out of cash and your savings account is not in the best condition. Maybe your best friend has a baby and you need to buy a gift. Maybe you forgot about your parents’ wedding celebration. Perhaps your car needs a quick fix – you need it to go work, so you cannot delay it.

Final Words

Bottom line, payday loans may not be suitable for all kinds of needs – definitely not for large amounts of money. However, there are many situations when they can make the difference between a peaceful result and a disastrous situation. Make sure you go through all the terms and conditions and you fully understand them before making a commitment.

Five Benefits of Payday Loans That Show How the Industry Has Changed

You have heard about payday loans. You see ads and billboards, but you have never really been involved with them. You know they are referred to as short term loans, meaning you get a particular amount of money that you should be able to cover it with your wages. Now, the main question is – are they really worth it?

Apart from getting a bit of money to keep yourself on the floating line, a payday loan will bring in a plethora of other advantages. So, what makes these loans so popular?

Quick Results

Payday loans do not involve getting to a bank, waiting in a queue, applying and waiting for days or even weeks for a reply. Instead, you usually get your application approved or rejected within minutes only – sometimes, even instantly. Then, money goes to your account within a couple of hours. Simply put, you get a good amount of money for emergencies, be it a car repair or rent.

It is worth noting that the speed of your application decision is based on providing the right documents and details.


Forget about banks, letters, documents, prints, queues and so on. More and more lenders stick to online payday loans only. In other words, you sit down on your sofa, complete the application on your smartphone or computer and send it. You do not have to leave the home. You only need an Internet connection.


Discretion is quite common these days, but doing it online provides even more privacy. Sure, you will have to provide real details, such as your name or payslip details. But then, you can avoid showing up in person. You do not have to discuss face to face with a manager. You do not need to borrow money from friends or family. You can take care of your financial issues and keep your reputation clean.

Good Rates

Pay your loan on time and you should have no issues whatsoever. Build your credit score up and show the lending institution that you are a reliable customer. With time, your credit limit will be increased. Assuming that you are still employed and you can pay the debt, your credibility will go up.

As a first time customer, you will be lucky to get £500. Most lenders allow smaller loans. As you keep repaying on time, you are more likely to get up to £1,000 or even more.

Well Regulated

Payday loans do not have the best reputation out there. Times are different now. Back then, the industry was quite problematic. Fees were high. There were all kinds of brokers selling these loans and many of them sold the customers’ data to call centres and so on. Luckily, the FCA (Financial Conduct Authority) has decided to put an end to all these problems.

Rules are quite strict these days. Reputable companies have managed to stay on the market, while the scum is mostly gone. Obviously, you still have to pay attention and research your lender. But then, there are price caps regarding charges and fees, meaning your extras will no longer explode.

Simply put, if you are after a payday loan, you can now enjoy a well-deserved peace of mind. You will work with well-regulated lenders and charge the right fees.

Final Words

Bottom line, payday loans represent a completely different industry these days. Despite being plagued with scams and huge fees for years, most of the scum is gone since it was properly regulated by the FCA. It makes a good alternative for those who need some quick cash for emergencies without ruining their credit scores or reputation.