You may recognise the scenario. You are just mentally congratulating yourself on having stuck well to your monthly budget when an unexpected bill arrives and throws you off balance - but a payday loans cash advance may help you get back on course.
These are a type of borrowing, typically of modest amounts of money, which you borrow for a short period of time and pay back as soon as you can, typically on your next payday (hence the name).
The amounts involved may be in the region of £100-£250 though more can be available in certain circumstances.
Alternatives to payday loans
With amounts such as these there may be other options you could use to get that bill settled. You could just:consider sticking it onto your credit card (if you have one); pay the bill anyway even if you do not have enough money in your account and just take the risk that your bank will look favourably on you slipping into the red - after all it is only for the few days until payday.
Something to consider though is that:depending on the type of deal you have with your card and how you repay it, you may end up paying more interest on your credit card balance than you would with a payday loans cash advance; in some circumstances, the same may be true for an unauthorised bank overdraft once you take into account not just the interest but the other charges that may be applied for the overdraft itself and the letter etc.
Know where you are
With a payday loans cash advance on the other hand, you will typically know exactly where you are in terms of both how much you have to repay and when.
This is because during the application process you choose your repayment date, which is your next payday or possibly the one after that. You may typically then see just how much in interest and charges your borrowing will cost you for the number of days that you have chosen.
This may in certain circumstances be a more cost effective option for the level of borrowing concerned.
Some features of payday loans
Payday loans may typically be:available to you if you are over 18, resident in the UK and in a job; paid directly into your bank account in as little as two hours after application approval; available even if you have a less than perfect credit history; repaid via a debit card transaction automatically from your account on your chosen date.
A final point you may wish to bear in mind about payday loans is that they do not have to be used only for problematic things like bills or car repairs.
You can use a payday loans cash advance to take advantage of opportunities as well, like a sale bargain that will not be around by the time you get paid or for a holiday deposit to give yourself something to look forward to. It is pretty much up to you.
