Emergency! Get Help Fast With a Payday Loan

It is the proverbial catch twenty two, when you least expect it, when you have just handed over your last fifty quid for something inconsequential, an emergency situation will rear its ugly head, that you are unable to do anything about till payday. Living without a stove, as it has suddenly broken down or even surviving without hot water can be managed if you are a level headed adult; and it’s even easier if you are blessed with friends that can help; but for a struggling family with young children it can be much more disastrous. There are certain things in life that are essential, and it is in these moments, when the indispensable’s break down, a payday loan can really be of assistance.

A payday loan can be for between one hundred and seven hundred and fifty pounds or more, although for first timers a set rate of around three hundred pounds is usually about the norm. After your initial first loan has been fully repaid, then you are able to borrow the maximum based on your regular income and as soon as it has been paid, you can re-apply, literally again and again. Although that is not advisable as payday loan companies still have interest, and it is substantial.

The interest accrued on a payday loan is usually a set amount per hundred pounds borrowed, meaning the less you have to borrow the better. This can mean however, that whether your loan is paid off in one, two or three months, the interest you will pay is the same. Extensions on loan repayments will undoubtedly attract extra fees or interest and is therefore not really advised. After an extension your future loan borrowing amount may be lessened, as the extension will be seen as proof that the prior loan was too much to handle, and payday loans pride their services on offering assistance, not further burdens.

The true help from a payday loan is in the super fast service, with most loans being processed almost immediately and the much needed money going into your bank overnight. With no face to face applications required, no statements or credit checks, it is the easiest access to quick funds available. So if faced with a true emergency; be it medical, car, home or even travel a payday loan may be the answer to your prayers!