subject: Pay Day Loans A Great Way To Help You To Pay Day [print this page] Pay day loans are a short term loan that are designed to tie you over to pay day hence the name pay day loans. Pay day loans are used as an a emergency when you run out of money for instance your boiler breaks down or your car breaks, and you do not have no money to fix these but you know that when pay day comes you will have the money.
Pay days loans are quick to apply for and the initial application will take less than 15 minutes, without any awkward questions asked and endless forms to fill in, if you are successful the money will be transferred in your bank account dependant on the lender within 12 hours. There are no credit checks involved which makes these types of loans so popular.
There are different ways of applying for the loan, you can do it over the phone, apply over the internet, and now you can even apply via text. The lender will send you a code, and when you need you money you just have to text the lender the code they sent you. So you can apply for a loan without even leaving your house.
To be offered a loan you must be over the age of 18, be a resident of the UK, have a bank account that accepts direct debit, you must hold a debit card, and hold a valid form of id, this can be a driving licence, a passport or even a birth certificate, some lenders may want proof of address this can be a utility bill or a council tax bill, as long as it shows your address this will be accepted, and of course you must be in full or part time employment. These are the only criteria the lenders are looking for.
Different lenders charge different interest rates so it is best to shop around before you apply, the average rate tends to be around 25 per 100 borrowed. Once you have chosen the lender you want to take the loan out with and you are accepted the money is paid in to your account the money will normally be debited from your bank account the day your wages go in to the bank.
Pay day loans are a great way to tie you over till pay day providing they are used properly, if you can't afford one do not apply for one, they are designed for short term purposes only and not for long term use.
