Short term cash loans are also called short term payday loans. The name comes from the amount of them the loans are for. These short term cash loans provide you with cash when you need it, but you have to repay in a short amount of time, usually about fourteen days. Interest rates can be very high on a short term payday loan, so make sure you will be able to repay the loan before you take it out.
Payday Loans until you get Paid
These loans are designed to give you money to help you make it until you are paid again. Sometimes expenses pop up that won’t wait until payday and that is where payday loans come in.To get one of these loans is a very simple process. First, you have to qualify. You must be a U.K. citizen who is at least 18 years old and with a UK bank account to be able to receive your money.
Other Payday Requirements
You have to have a job where you make at least an agreed sum each and every month. If you don’t have a job, you need to have some kind of income coming in. You also have to have a valid checking account. If you meet these criteria, then you are probably qualified for a short term payday loan.
Some lenders will require a credit check, and then the terms you receive will be based on your credit. Don’t worry if you have bad credit. A UK Payday loan are available even to those with bad or no credit. If you choose to go with a lender who doesn’t require a credit check, you won’t have to worry about interest charges because those loans only require a flat, fixed fee.
Understand the Pay Day Loan Process clearly.
While you need to be sure that you understand the terms of your loans, and that you know exactly what you are expected to repay, you don’t have to worry about how to repay. Make sure you will be able to afford the payments, and explain to the lender if you can’t afford to repay the entire loan on your very next payday. Many lenders offer a repayment schedule, and some even work with you depending on if you are paid monthly, weekly, or bi-weekly.