Britons all over the UK are taking advantage of payday loans. With the opportunity to get immediate access to cash that can help them make it through until the next payday, these short term cash advances are helping people deal with emergency expenses and unexpected or unplanned bills.
The approval on payday loans in Britain is generally fast, because behind the online application form lie thorough decision making processes. In some cases you can have your approval in as little as one hour. The application is easy, the paperwork is often minimal and the many lenders online facilities are available or open 7 days a week throughout the year. There are also different loan options available. Small loans are best paid back using the 1-period loan. The due date is your next pay date and the loan would be repaid in full along with finance charges and interest. These will be clearly stated in pre-contract documentation you receive before signing up to a loan, and in the loan agreement, so you will know exactly how much to repay, and when, with a payday loan.
The application process is fast and easy. A short application can be filled out online for convenience. Basic personal contact information will be required, along with employment information. Banking information will be required so the funds can be deposited directly into your account if your application is approved and your loan is funded.
The application process is easy, provisional approval is fast and your personal information will be secured and fully protected. When you need a quick infusion of cash before the next payday, consider taking a short term cash advance with payday loans from Uncle Buck. You should always remember that Uncle Buck payday loans are for short term financial needs and would be unsuitable if you are in financial difficulty or as a means of longer term borrowing. You should read all the documentation provided and only take out a payday loan from Uncle Buck if you are sure this is right for you.
Payday Loans more popular than ever!
In August 2010 Consumer Focus published their report “Keeping the plates spinning”, which suggested that payday lending in the UK had quadrupled in the last four years, with an estimated 4.1m loans worth around £1.2bn being made in 2009/10 . These data were an increase on the Office of Fair Trading’s (OFT) 2008 estimated advances of £700m – £900m in 2008, published in its High Cost Credit Review.
Datamonitor, in its “Non Standard Lending 2010 : New Opportunities for Alternative Lenders”, published in October 2010, went as far as to suggest that gross lending could rise as high as £3.5bn by 2014.
These data show us that payday loans have become more popular in the UK in recent years as more people turn to short term lending solutions for their emergency or immediate cash needs.
In the current “credit crunch”, many consumers cannot access mainstream finance such as credit cards and bank loans and they do not want to sign up to making sustained loan repayments over many months. Payday loans offer an alternative, with small sums being lent that are generally repaid on the next payday.
You should always consider whether you can access alternative forms of credit, and payday loans are not suitable if you are in financial difficulty and would be expensive as a means of longer term borrowing.