Avoiding Excessive Bank Charges With A Payday Loan
Each month with the money we receive from our cheque we pay off all our necessary
bills such as the mortgage, council tax, electricity and water bills, along with any other bills that require paying each month as and when they fall due. Usually the money we receive on payday outweighs the money that goes out of our accounts during the course of the month, but there may come a time when unexpected bills pile up and we fall short of money at a crucial time.
Those of us with no overdraft facility, or those of us who have used our full overdraft limit for the month, do all we can to prevent ourselves from going into whats known as unarranged overdraft because some banks charge excessive fees for doing so. If this has happened to you, you are probably thinking that there must be a cheaper and more convenient way of paying off those bills that just cant wait until payday without incurring fees for going into unauthorised bank overdraft.
If this is something you have asked yourself in the past then you are in luck because payday loan lenders provide just the thing. Payday loans, otherwise known as payday advances, do exactly what they say on the tin they allow you to borrow a small sum of cash to pay off your unexpected or emergency expenses and to then repay the loan on your payday, once your wages have topped up your bank balance again.
Aside from the convenience of being able to borrow a relatively small sum of money, payday loans have proved to be very popular over the years due to the fast application process, particularly with online payday loans, where you are not required to send reams of paperwork to the lender and can get your application approved within a few minutes. Furthermore, in most cases you can even receive the loan on the same day you apply for it.
People who are short of money during a certain month can make the most of these fast cash loans to help them through until payday. However, as with any form of credit, it is imperative that you assess your financial situation and make sure you really can afford to pay back any money borrowed by the time payday comes along before applying. Payday loans should only be used as a short term resolution of financial problems and if your need is more long term then you need to look for a longer term loan that you wont need to pay back right away.
by: Jamie Francis
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