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How to use Payday Loans

We have all been in this situation. Half way through the month and two utility bills land on the mat at the same time. A punctured tire, the car is due for the MOT or even failed the its MOT. Our best friend is getting married and we want to join in the festivities. Finally, and this is not a definitive list, we urgently need to fix a painful tooth, but payday is three weeks away. Life is full of these little emergencies and no matter how careful our money management is, we can be left short until our next payday. The solution to these money emergencies that always seem to happen half way through the month, when we least expect them, is a Payday Loan.

A Payday Loan is designed to provide you with fast cash, typically between £50 and £1000, to cover an unforeseen shortfall, until the next payday. To qualify for such a loan you must be working, must be paid directly into your bank account and you must have a debit card. You do not pay interest for this facility but instead you pay a fee, something like £20 to £25 for every £100 borrowed. On your next payday you pay off the loan and the fee. It is a simple and quick loan. Money is usually paid direct into your bank account on the same day, and it is designed as a solution to a short term shortfall. However, if the shortfall persists for the following month you could extend the loan for another month by only paying another fee.

It may be very tempting to extend a Payday Loan for month after month. This is not what they have been designed for and the incredibly high APR rates illustrate precisely this fact. Although such a loan facility is useful for a month or two, it becomes very expensive if it is kept for a whole year. It is important that, if you find that you rely on a payday loan for one month after another, you consider opting for a longer term loan, designed to be repaid over 1-2 years. It will work out considerably cheaper in the long term.

The advantages of a Payday Loan

  • Quick payout - money in your account the same day
  • Simplified application process - only online application required
  • Bad credit no problem
  • Easy to pay it back - repaid on your payday
  • Can improve your credit status if repaid on time

Variants of a Payday Loan

Have you ever wished for a loan which is as simple to apply as a Payday Loan but can be repaid over a year, and with interest rate more reasonable than a Payday Loan? We have just the loan for you. A simple online application process, the money, up to £2,000, in your account on the same day and monthly repayments over a twelve month period. To qualify you must be employed, and must be paid monthly directly into a current bank account which has a debit card.

Payday Loans for the unemployed

You may not be surprised to know that those who do not have a regular payday, the unemployed and even the self employed, do not qualify for a Payday Loan. However, if you find yourself in this category, we have just the plan for you. You can borrow anything between £50 and £500, whatever your circumstances. All we ask from you is to provide a guarantor, somebody who knows you well and can help you with the loan. Your guarantor does not have to be a homeowner, but must have a good credit record. For a quick payout just complete this simple application.

At Express Finance we have a plan for all circumstances. We aim to provide you with the best advise, the best possible customer service and find the most suitable loan for you with the minimum fuss. We have been doing this for the last ten years and have acquired considerable experience in this field. In the first instance complete our simple online application and you could have your loan within hours.