If you’re anything like me, you’ve just looked at your online bank account – after several days of plucking up the courage because you just know it’s gonna be bad news – and the worst you feared is worse than you feared; why not consider a payday cash advance to tide you over until pay day?
January is hard – many monthly-paid workers are paid before Christmas by companies who want their employees to feel the benefit of extra cash in their pockets over the festive season.
But as that last New Year’s bell tolls, reality kicks in and those thirty-one days of January are like the yellow-brick road, stretching on forever in front of you until you next get paid.
If you consider yourself to have a bad credit rating and think that an instant cash loan is laughable, don’t. As long as you can prove that you have a regular income, that is often enough – there are even companies out there that will provide same day loans without running a credit check, so long as you can prove you have regular cash coming in.
You are not alone – millions of Britons in the cash-strapped UK are in the same boat, looking for short term loans online. You’re checking out your bank account online, why bother going to the high street for a loan – in some instances, the rate is even preferable to your traditional institutes which provide short-term loans.
Flexible, instant short term loans
In many instances, you can set the repayment terms to suit your budget. You decide how much you want to lend, and by entering a realistic pay back date (which you can save money on by reducing the term) you will have some idea how much you have to budget to repay the loan.
Decisions are often quick and the cash can be in your bank account the same day, often within hours.
This is a particularly useful tool at this time of year. Many companies and organisations have just had their year-end figures posted and you could be aware of a bonus due in this month’s pay. Yes, there will be interest to pay on your same day loan but, if you do have a bonus due, it will certainly help cushion the blow.
If your bank account is like mine, once you step over your agreed overdraught limit, you’ll be hit with a £5/day fee and suffer the inherent damage to your credit rating – pre-empt that body-blow!
If you know you’re going over anyway, you’re likely (not guaranteed) to be better off applying for a same day loan, now. For example, if you get paid 31st Jan and you’re over already your agreed overdraft limit, your bank will be charging you another 26 days x £5 = £130.
And what have you got to show for it? Nothing. Apart from a bill encroaching your next pay packet.
In many instances, it may make commercial sense to take out a loan, cover the remainder of your outgoings and perhaps stretch the loan to put a bit of extra cash in your pocket, especially if you’re going to be charged, anyway.
It really is worth considering, especially if you want to make this a good start to a happy new year!