With the middle of the month not too far away and one of the most expensive times of the year fast approaching, many people will be aware and worried about how they are going to be paying their household bills over the next couple of weeks prior to receiving their next salary. Of course the bills need to be paid and cannot be forgotten about, but just how does somebody keep up with the ever increasing monthly bills such as gas, electric and groceries?
Many people turn to a short term financial solution called an emergency cash loan, often referred to as a payday loan or cash advance. The great thing about these types of cash loans are that they enable anyone to apply for a loan online from £100 to £1,000 with minimal fuss and bother. Furthermore the short term cash advance can be approved and paid into your bank account the very same day you apply!
Whilst these kinds of loans are ideal for short term borrowing, such as a monthly period of time - these are not the best way of borrowing cash over a medium to long term period, where something such as a secured loan, logbook loan, unsecured loan or guarantor loan maybe a more beneficial way of borrowing cash due to the better interest repayments.
For shorter term cash loan needs, emergency loans would be a better option to consider - due to the quick, easy and hassle free way they are processed, with no paperwork to fax or post and no lengthy phone calls from lenders or forms to complete. The criteria you will need to meet in order to be considered for a cash advance or payday cash loan is very simple and straight forward:
- You must be a UK resident and 18 years or older
- You should be in employment and be paid your salary into your bank account
- You should have a take home salary of at least £750 each month paid into your bank account
- The bank account should also have a debit card facility connected
One thing people often worry about when applying for an emergency loan, is that if they have a poor credit history or had previous problems with credit - that they will automatically be rejected by the lender. This is certainly not the case and lenders encourage applications from people with poor to excellent credit histories. Even if you have had a CCJ previously, this does not necessarily mean your payday loan or cash advance application will be rejected.