Payday loan companies are using daytime television to market short term loans for bad credit – yet some have criticised these loans for their comparatively high interest rates.
While detractors and critics of no credit check loans say they can do more harm than good, the truth is that short term loans for bad credit can solve short-term financial problems that could otherwise lead to severe issues for UK households.
Households in the UK have been repeatedly warned by traditional lenders to not deal with instant cash loan providers, but with the economy in its current state, the only way for many to get emergency funds is through no credit check loans.
Payday loan experts say that you should begin planning ahead for your Christmas spending now, keeping in mind that you can always rely on short term loans for bad credit if things begin to get tight.
One MP in Derry has recently criticised instant cash loan providers in Derry, calling the lenders ‘predatory’ and little better than ‘legal loan sharks,’ according to payday advance industry experts.
If you’re in need of some extra cash in order to make ends meet, but traditional lending institutions are hesitant to give you access to finance due to a less than stellar history, experts have recommended you consider firms that specialise in providing short term loans for bad credit histories.