Cash advances and their role in UK society

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02-Jun-2015 12:18 PM


Posts: 1

You only need to be 18 years of age, a resident, with a stable job and a bank account so the pay day lender can electronically transfer funds to your account. Most sites that offer these loans don't even bother to check your credit and will trumpet this feature as a no-credit check, no-fax, same-day processing pay day loan. You just have to make sure you can settle the loan on maturity date on you next pay day.

Pay day loans for instant cash relief Finding yourself short of cash or credit line during your weekend shopping sprees is not exactly the best reason to take out a pay day loan, even if you think you can pay it back on your next payday. Pay day loans are among the most expensive debts to incur usually costing $15 to $20 for ever $100 loaned on a 15-day maturity. The cash you get simply advances what you would get on your next pay day and is really a short termcash advance from designed to provide you with quick and easy financial relief in cases of cash flow emergencies such as a sudden house or car repair, a maturing rent or utility bill, as well as an unpaid credit card balances that pile up interests charges. But in some cases, taking out one of those pay day loans for your shopping can make perfect practical sense.

A sale you wouldn't want to miss I once drooled over a 3-day long weekend holiday sale in a mall but was not financially prepared to splurge, until I saw my dream 52-inch 3D HDTV going on sale for $1, 600 from a $2,200+ price tag. I immediately asked the sales rep if they had more stocks on the model and was distressed to find out there was only one left along with the display model. I quickly rushed out and went online in a nearby internet cafe to apply for one of those loans. I applied in one for the amount of $1,600 with an interest of $320 I have to pay with the principle within the next 15 days. I got the loan the following morning and by dinner time, I was watching a Blu-ray movie on my new 3D HDTV.

A matter of cost-benefit analysis Now why did I do that? A simple math told me that the $600 discount I could enjoy getting the 3D HDTV within the next 2 days of the sale would still put me ahead of the $320 cost of money after taking out the payday loan. That's a simple cost-benefit analysis - something anyone can do. Of course, I could have bought the TV from my next payday's proceeds just a week away. The amount was well within my take home pay to afford. But then, either the TV would be back to its old price tag, or someone would have beaten me to it and there won't any stock left. If I had not taken out the payday loan, I would have lost the opportunity to save $280 on my dream television. In cases like this, it helps to have a ready cash you can take out instantly. Pay day loans offer this convenience. Just be sure to do a little cost benefit arithmetic that shows you're ahead.


05-Jun-2015 04:49 AM


Posts: 3

You are qualified for profiting the cash for desperation through100 text loans in the event that you are working and getting general regularly scheduled paycheque for recent months. Your age must be over 18 years for these loans and a bank financial records in your name additionally is important.