3 Month Payday Loans - Advnace Against Your Salary
Recession has come as a curse to people all over the world
. The employment situation in the UK has greatly suffered. The employees salary has reduced by a great margin. This makes it difficult for people to make ends meet. Thus they take 3 month payday loans against their paycheck
These advances are granted for various reasons. They maybe acquired to pay college fees, or go for a holiday.
Advantages;
3month payday loans are sanctioned quickly. The borrower is not kept waiting.
These advances have a long repayment period i.e. 3months.
Disadvantages;
They are short term advances, thus a higher rate of interest is charged.
To be eligible the borrower requires to fulfill the following criteria;
He should be a citizen of U.K.
He should be above 18 years of age.
He must be employed with a regular income of at least 1000.
He should have an active bank account.
He must also posses a credit card.
The borrower is granted credit ranging from 80 to 1500 for a period of up to 3 months
The repayment period can be extended. If the borrower extends his repayment period, he is charged a fee. The lender is the person who decides the amount of credit to be lent. He makes this decision depending upon the borrowers repayment ability and his credibility.
3 month payday loans can also be applied for online .The application procedure is simple and user friendly. The applicant is only required to fill the application form which requires his details. The form is then sent to the lender for verification. After the application form is scrutinized by the lender, the finance is sanctioned. The advance reaches the borrowers account within 24 hours.