Q: I need some money urgently, I’ve had some unexpected costs this month and added to that christmas is coming up I really am at a loose end as what to do. I’ve tried friends and family, I even went to the bank to ask for a loan but no-one can help, what can I do, I’m freaking out.

Simple Payday Says:

I picked this question up from another forum and it amazes me that people still don’t know that they can get emergency loans online or payday loans online – same thing. Now these loans aren’t a silver bullet and neither are they a solve all but they will give you peace of mind in knowing that you will be able to afford christmas.

The information you need to know in case you weren’t already aware is that you have to be over 18, a UK resident and employed full-time to apply. You can borrow £100 up to £1000 and it’s deposited within the hour. Visit our guaranteed payday loans site for more details.

Anyone who has ever taken out a bank loan knows that it can take an age between the application being agreed, and the money of the loan appearing in your account. Banks are notoriously slow, and while you are waiting for the money, they are keeping the interest which you could earn, all for themselves. Even a quick loan, such as those given by payday lenders, can sometimes take an age to arrive, and this is not what you want when you are only borrowing money in the short-term. You need the money there as quickly as possible so that you can put it to good use. You can work out the length of time the loan should take to appear in your bank account by calculating the different processes which you need to go through when applying for a payday loan.

From Application To Acceptance

In the old payday loan system, the time between application and acceptance could be a while. You would have to send off forms, and endure a credit check. This meant that your loan could take up to a week to be agreed. More modern payday lenders prefer to use an online form, so they can see what you need, and how you are able to pay it back, without having to read through lots of faxed documents. This keeps overheads down, and also speeds up the referral time for the loan. Depending upon the company you choose, you could have the loan agreed within an hour of filling in the application form. Some may take a little longer, but it should not be more than a few hours.

From Acceptance to Account

Once the loan has been accepted, it is just a matter of waiting for the money to appear in your account. If you have opted for instant transfer, then you can expect to get your money within a few hours of talking to the company and getting their agreement. Alternatively, if you have opted to have the money delivered by an overnight courier, then you can expect this to take slightly longer, although most companies will send the money through the same day, and it should be with you by the following morning.
Although this is standard procedure, there will be circumstances which could make the loan take longer. For example, if your loan is agreed late on a Friday evening, then your bank might not process it until the following Monday, leaving you without cash for the weekend. However, this does not happen often, and most loans are given on the same day they are agreed.

When you are unemployed, even small debts can seem like an impossible mountain to climb. Not only do you suffer prejudice against you in the local area, but national banks can also hold your lack of employment against you. Getting a loan is virtually impossible, and even credit card companies tend to deny those who are currently without a job. As you need money to try and establish yourself, perhaps for those first few days of work while you are travelling to and from your new place of work, getting a loan can be vital. In these circumstances, it is no surprise that many people turn to payday loans for their cash advance.

Payday Loans and the Unemployed

Of course, when you are without a job, nothing is easy or simple, and even the line of credit that a payday loan affords you can be difficult to get unless you are prepared to do some research. Most companies who offer short-term loans like this expect you to be able to provide some evidence of a regular source of income. If you are unemployed, you have your Jobseeker’s Allowance, which is not usually enough to fund a payday loan. You might seek to get small amounts, perhaps less than £100, which might be afforded by the unemployed, but it can still be a difficult task. You may have to request a payday loan from a number of customers before you find one that is prepared to let you borrow any money. Most forms of payday loan will be refused to you, but it pays to persevere.

Finding an Unemployed Payday Loan

The first place you should look for an unemployed payday loan is online. For every need, the internet has an answer, and this is as true of payday loans for those out of work as it is of everything else. Specialist lenders can offer small cash advances for those without employment. These companies will still expect to see your source of income, and they will still need you to have a current account, but as they are lending to the unemployed, they will not seek evidence of employment. They might also offer to extend the loan over two months, rather than the usual 30 days, in order to give you more time to pay. When it comes to settling small debts on unemployment benefit, it is worthwhile considering taking out a specialised payday loan.

The credit crunch has left a lot of people realising that they just don’t have the money to cover themselves if anything bad happens. With banks increasing pressure on the general public to pay back loans, and with reports showing dire consequences if you get into trouble with debt, it can sometimes be difficult not to feel squeezed between the pressure to pay debts and the pressure to live a modern lifestyle. As more and more people struggle with debt, they can find themselves needing emergency cash, quickly.

Reasons Why You Might Need Emergency Cash

There are a number of reasons why you might find that you need some emergency cash, and quickly. The first category is emergencies that you couldn’t predict. This ranges from things such as accidents or medical conditions which affect your ability to work. This can reduce your income until you need some money to tide you over to the next disability payment. It could also include vets bills, taxis and travel so you can visit people in hospital, or even taking unpaid time away from work. A second category is those things which you could have prepared for, but don’t have enough funds. This covers things such as car repairs after an MOT, home repairs, and utility bills. These usually cost a few hundred pounds, but without a loan might prove to be out of your reach. The last category is debts. If you are already struggling, then having to find money to pay back bank loans or credit card debts can be hard. Sometimes, your money just won’t stretch all the way around.

Use Payday Loans to Get Emergency Cash

Whatever the reason for your need, you can take out a payday loan to give you the cash you need, today. Online payday lenders will allow you to fill in a form through the internet, and receive your payment within a few hours. This can help you to cover the emergency, and save you from financial disaster. If you are concerned that you are running out of cash, and can’t make it through this current crisis, then you should definitely see if a payday loan is the right option for you. With these cash advances, you can pay the money back within 30 days, leaving you free from debt for the rest of the year. You can take out anything from £100 to £1000, so your emergency cash needs should be solved with a payday loan.

Providing documentation when you try and take out a loan is always a hassle. Banks usually require several different forms of ID, proof of income, details of your home and anywhere else that you have lived within the last 8 years, and also evidence of any other loans and existing finances that might make you a higher risk for taking out a loan. Payday loans companies in the past would also ask that you faxed over a load of information, just to ensure that they would not lose their money by investing in you. Getting all this documentation together took time and effort on your part, the sort of time which most busy people don’t have a lot of time for these days. This is why a number of internet companies now offer a no-fax payday loan.

Benefits of the No Fax Payday Loan

As might be expected, there are a number of benefits to taking out a faxless payday loan with a UK company. Firstly, they will usually have a reduced set of requirements for their customers. It is usual for a no fax payday lender to ask only that clients have a regular income, and a permanent residence, as well as being over the age of 18. Some will also ask for proof that you are a British citizen and hold a passport. As almost everyone meets these conditions, the loan is almost guaranteed. Another advantage is that without a massive amount of documentation to wade through, payday loans companies can assess your claim within hours, sometimes within minutes. This means that you can get your loan through the same day. In addition, as the loan is so quick, it is rare that no fax payday lenders conduct a credit check. This is good news for anyone with a bad credit history.

Disadvantages to the No Fax Payday Loan

Although there are many positives to taking out a faxless payday loan, there are also some reasons why you might be reluctant to do so. Firstly, a no-faxing cash advance will usually have a higher interest rate, which can mean that you are paying a lot more for not having to supply documents. Secondly, you may find the whole experience rather robotic, since you are not interviewed by any real person, and you are not able to negotiate. The borrowing amount and rate are decided on the form you fill in, which may make you feel that you would have preferred to talk to the company first.

Applying for a loan is never easy, but perhaps the most difficult part of the process is completing the application form. As banks have become more and more picky about who they are willing to lend to, they have created a massive application form that can now take up as much as 10 or 12 pages. Filling in this form can be daunting, and may even be impossible, depending upon just how detailed your financial notes are. Those with a record of every single transaction taken since 1983 might expect to find this easier than those with only a vague recollection of their bank account number, but finding the one piece of paper in amidst piles of receipts can also be difficult. So no matter who you are, and how good your finances, the loan application form can be hard work.

Applying for a Faxed Payday Loan

In the past, it was a very similar situation with payday loans companies. Even after they moved online, many payday lenders were reluctant to let go of all traditions, so they often asked borrowers to fax them details of their finances, as well as a lot of personal information. In fact, you can still do this today, and it may save you a few pounds on your repayment. However, faxing is an outdated technology, so that many people don’t have a private or business fax machine. You can fax it from a public machine, often found in post-offices, but this is neither private, nor secure. Faxing over details of your bank account, your home address and other personal information could leave you open to identity theft or fraud.

Faxless Payday Loans Save the Day

Rather than go through all this, a faxless payday loan can be your answer. Unlike a bank, you don’t have to wade through masses of information to complete the form, and unlike a faxed payday loan, you aren’t running the risk of giving your personal information to strangers. Instead, all that you have to do is fill in a simple online form, giving the bare details of why you want the loan. With a faxless payday loan, you may not even need to undergo a credit check, you can just get the loan the same day. For small cash advances of every kind, these short-term faxless loans are the ideal solution.

The modern economy relies heavily upon people being able to take out loans, particularly personal loans and mortgages. Most online shopping is done using a credit card, and other real-time sales also rely upon the fantastic plastic. If you have bad credit, you can find yourself cut off from all these avenues of credit, and even the smallest of loans could be out of your reach. For people with bad debts, this can have a serious impact on their ability to travel, to buy cars and other items such as phones, to obtain a credit card or store card, and even to buy a home. When you find yourself in this situation, getting any kind of loan can seem like a dream.

Payday Loans Guaranteed

In order to fill the gap between the banks and those with bad credit, the UK economy needed some companies who were willing to put the time and effort into lending to people who bear this bad credit label. This is where payday loans companies have risen to the surface. You don’t need to have a good credit rating to take out loans with these companies. All that you need is a regular source of income which will allow you to pay back the loan within 30 days, and to be over the age of 18. As long as you have this, and can also provide a valid British passport, you should have no problems with taking out a payday loan. Some payday loan companies will also offer people with bad credit guaranteed loans – promising to lend the sum if the borrower meets their basic requirements.

Bad Credit Guaranteed Loans

If you need to take out a payday loan and you have bad credit, it makes sense to take advantage of the no-credit-check payday loans offers. With these, the lenders won’t even run the most basic credit check on you, unlike banks and other financial institutions which use these checks rigorously. Even those without a very bad credit rating might consider taking advantage of these guaranteed loans, as they are so attractive.You might choose to take advantage of these offers if you are self-employed, for example, as this will usually stop you from getting an ordinary loan. As long as you can afford the one-off repayment, you will be assured of the loan. This is great news for anyone who is struggling to meed their household expenses, all for want of a small injection of cash.

In modern society, it is not at all rare for people to struggle to make enough money to live on. While 100 years ago it was seen as an embarrassment to owe money to anyone, now it is something which almost everyone in the UK has in common. Whether it is a personal loan, credit card debt, or a mortgage on a home, the majority of people in the country have debt. For most of the time, this is fine, and no-one is really worried about the details. However, from time to time this loan bubble is close to being burst, and that is when people need emergency cash.

Getting Emergency Cash Quickly

There are many ways in which you can raise the money necessary to meet your immediate financial crisis. The bank is the first place most people turn, but some people have a rather strained relationship with their account manager, and would prefer another method of getting money. You could also try using a credit card, although this is usually the last thing that people want. Economic advisers recommend that you never use your credit card to get quick funds, as the interest rates can really bite you on the behind. Instead, you might consider taking out a payday loan, which will help you to get the cash you need for the immediate problem without leaving you repaying the loan for years to come. With a payday loan, you can get the cash you need today, and pay off the sum in the same month, leaving you free of this debt within 30 days.

Turning to Payday Lenders

More and more people are turning to payday lenders to help them bridge the gap between what they earn one month, and what they need to pay out. People often choose to borrow small sums from cash advance companies because it seems an easy way out of the problem, and they are reluctant to take on any more debt. Payday lenders are also particularly quick in their response to people’s application, so you could find yourself applying for a loan in the morning, and arranging to have the cash deposited in your account in the afternoon. This is a great feeling, and unsurprisingly, many people are happy with their payday loan. All that you need to get a short term loan in the UK is a regular job and a valid British passport.

There are so many payday lenders in the current market, that it can sometimes seem difficult to tell them apart. Wonga, also known as Wonga.com, have been busily promoting themselves on TV and through the Internet, making them one of the first companies that comes to mind when people are considering taking out a payday loan. These ads are eye-catching and serve to tell the viewer that they can get payday loans from Wonga, but they don’t really give away much information, and they are clearly not an unbiased review of Wonga’s offerings. Rather than jump right in to a loan with this company, it makes sense to read a few reviews and learn the real facts behind Wonga’s promises.

Wonga.com the Company

Wonga established themselves as a payday loans company in 2001, and have quickly become one of the most prominent short-term loan companies around. Their business model is based upon offering a speedy approval service, and can offer some customers a 15 minute waiting time between the application being sent and the approval being granted. Wonga have a number of criteria which their clients must fulfil, typically that customers must be over 18, with a full-time job and holding a current British passport. Unlike some instant cash lenders, they will perform a credit check if they have not worked with the applicant previously.

Pros and Cons of Using Wonga

There are a number of reasons why you might consider taking a payday loan from Wonga. Firstly, they are an established lender, which means that you have more security than with a lender who has only just started. Secondly, they offer a completely online service, meaning that you get the form filled online, through their secure site, and you then are granted the loan, again through the internet. This can be a big advantage, since you won’t have lenders ringing your home, but it can also seem very cold and impersonal. Wonga are also keen to provide the best payday loans service possible, so they allow you to choose exactly how much you want, moving slowly up in £1s, so you need only take out as much as you like. They will also allow you to choose when you pay it back, up to 30 days after the loan. Unlike some lenders, Wonga will also offer short-term cash loans to people who are self-employed.
This does not mean that there are not disadvantages. Wonga typically charge £5.50 for arranging the loan, and will only allow you to borrow for one month. This is less than some payday loans companies, who are willing to extend the loan for 60 days.

Getting small sums of money quickly is not always easy to do. Banks are more happy to offer large loans, often much more than you need, rather than say a few hundred pounds. The interest rates for these loans are also large, and may be more than you can afford. You may also find that you get turned down for a sizeable loan if it is not properly secured. As an alternative, you could try to extend your overdraft, but again this is not always possible, and you could find yourself struggling to raise a couple of hundred pounds. Payday lenders appreciate the absurdity of struggling to get these funds together, and can offer you an alternative to traditional loans.

Payday Loans for Small Amounts

With an instant cash loan, you can take out sums of between £50 and £1000, depending upon your need. The loan usually costs around 25% of the total amount borrowed, so for a larger sum, so expect to pay a lot of interest if you borrow a higher sum. For smaller amounts, such as one or two hundred pounds, you will probably end up paying less than you would with an ordinary bank loan. When you need small amounts of cash quickly, then a payday loan can be the ideal solution, and you don’t need to go through a lengthy application process, unlike getting a loan from a bank. Payday loans will give you the amount you need without having to take out much larger sums of money.

Small Cash Payday Loans

Many people don’t think about taking out a non-traditional loan when they are desperate for money, but these can really be life-savers. Non-traditional financial institutions have learned to be more flexible with their lending, meaning that borrowers can take advantage of some great deals. Using the loans like these can help you through the bad times, and it is no real surprise that thousands of people in the UK are now using payday loans as an extra source of ready money. With instant cash loans, you can also avoid the problems of a credit check, or simply the delays in arranging your loan that occur in banks. Simply apply today, and you could have money in your pocket by the following morning, or even sooner. All you need are a regular source of income and a valid British passport.