subject: Payday Loans - My Perspective [print this page] I am a young person who is a permanent employee in a UK firm. When I need payday loans I always try to find cash in the most convenient manner. Of course, I will check what the consequences of such borrowings are as well. When I borrow from my close friends and relatives, I am very careful to return the money in time and I am always very embarrassed when I have to borrow from them. If they say, "No I am very sorry," I am sorry for them more than they are for me, because I have put them in a very embarrassing situation.
Any way, until a few months back, it was the best way for me to have instant payday loans when I need cash for sudden urgent financial requirements. I get some kind of urgent financial needs every month, and I have no money in hand to face it. This invariably happens between two paydays. I think it is normal because most of my friends are also in similar situations. The problems come in various forms and occur at various times requiring cash to solve them.
However, in last year it was very difficult to find money from friends and relatives because they were in financially strained as well due to the financial crisis affecting people all over the World. Even banks were reluctant to lend money and most banks were closed. Many others changed their rules and regulations when lending monies. Then, one day, I went to a pawnbroker and asked him to lend me 1000 pounds to repair my vehicle, which had some minor problem. He refused to lend me the money unless I had some valuable asset to pawn against the money. I left my ring with him and received the money. Until last month, I was paying him interest of about 30 pound a month as I was never able to pay back the loan and redeem the ring.
If a person as free as me can face such hardships due to financial requirements during two paydays, how severe could it be for families to bear?
I do not borrow money from friends and relatives. When I am faced with an urgent problem and need money I switch on my laptop and fill an online application form for a paycheque advance, from a reputable company I have known for the last six months. I have borrowed money from them frequently to solve my financial problems. No sooner I apply they have transferred money to my account since they know I am a reliable customer through my dealings with them and repaying on time. Like me, about 2/3rd of permanent employees in the UK have built good relationships with one or another reputable payday loans online company. It is standard now and the fastest way to receive money for our financial problems.
