When you have sufficient money in your bank account, you are never worried about handling financial emergencies. The problem arises when you end up spending most of your paycheck on shopping, paying bills and for satisfying your personal needs. You will not have the money to meet your emergencies, and it can be extremely stressful wondering where to get the resources you need so urgently.
Payday loans to the rescue
If you have set aside money for emergencies, it is all well and good. However, if you don’t have an emergency fund to dip into, you will have to approach a friend or family member for the money. It can be embarrassing for you and a burden for the other person. Why take this route when you can get access to payday loans?
Instant money without hassles
Payday loans are short-term loans. As the name suggests, you need to repay the loan on your next payday. Since these loans are unsecured loans and don’t need collateral, they have a higher interest rate compared to traditional loans. Thankfully, the FCA has put a cap on the amount of interest that a lender can charge, so you don’t have to worry about falling prey to a loan shark. In fact, payday loans are the most popular form of short-term loans in the UK.
You can use payday loans for just about anything – bills, unforeseen expenditure, phone bills and even grocery bills. However, it is prudent to do your due diligence before taking a loan so that you get the most favourable deal.
The allthelenders website is a one-stop destination for borrowers looking for payday loans. It is the UK’s first website for the payday loan industry and is authorised and regulated by the FCA. The website allows you to compare different payday loan lenders and then select the lender that offers the most affordable deal. The allthelenders website is completely independent and does not provide results based on vested interests.