Lenders are scrambling to slash the interest rates on their cash loans ahead of a rumored drop in the Bank of England’s base rate that is supposedly looming on the horizon.
While the Bank of England hasn’t done so yet, the writing is on the wall – the base rate may drop by 0.25 percentage points by the end of the year, bringing cheaper loans.
If you’re in a financial bind that sees you having to make the choice between using a payday loan provider or seeking out your local credit union, the decision should be a no-brainer.
You could end up in a dangerous cycle of debt if you take out high interest short term loans to supplement your paycheque.
While most will associate peer-to-peer lending as a way to voice your discontent with high street’s banking institutions and how much harder they’ve made it to access credit, using a crowdsourced funding option can result in much better interest rates.
Experts say that you need to act sooner rather than later if you’re facing debt problems, especially as rent arrears could see you having to find a new place to live – and in a hurry.
So you’re short on cash and you’re stuck between looming bills and your next pay period, and you think you might have to take out a payday loan – but did you know that relying on a credit union instead could lead to much more affordable lending?
A instant cash loan information website has advanced an interesting and novel way of acquiring debt: take a loan out for cooking classes!
The short term loans company “Lending Stream” has put out a public warning to customers and the general public about the increasing possibility of fraud perpetrated by people who pretend to be legitimate instant cash loan or personal loans lenders.
A surprising revelation from an unexpected source helps to illustrate why so many people are turning to sources of easily available credit like short term loans to get by from one day to the next.