With the current economic climate the way it is – rising energy bills and job insecurities – there is not a great deal of money around. The days of you and I having "spare cash" appear to have gone and businesses are struggling as we're not spending on luxuries such as electronic items, holidays or going out for meals.
Nobody can accommodate for personal emergencies. You may drive to work on the Monday and all is well. You may wake up on the Tuesday and the car won't start. It goes to your local garage and it needs £500 spent on it. So you need £500 quickly as you need to get to work. Public transport is not good and you have nobody who you work with that lives near you to give you a lift.
Because of the lack of money about at the moment it isn't necessarily a good idea to try and borrow from your family and friends – as they are more than likely in the same position as you. Plus you do not want to ask them due to embarrassment as well.
Fortunately, despite restricted lending criteria amongst banks, there is a great way of short term borrowing called quick cash. As the name suggests a instant loans are designed to be paid back when you next get paid. This therefore means it is only short term borrowing and also you can get the loan approved the same day you apply in a lot of circumstances.
So to summarise payday loans can be a viable solution in some circumstances.
16 October 2009
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