Payday loans to cover surprise costs

Even with the best will and financial planning in the world, many of us still run out of money before we get paid and need a payday advance to see us through.

Sometimes there's those surprise costs too that you hadn't really factored in. It might be a forgotten birthday, a bill out of the blue or an ad hoc expense that you can't avoid.

So, what can you do? Can a good friend lend you the cash on a short-term basis? Worth seeing what the situation is with the bank of mum and dad too.

If that's a no-go, sometimes the bank will extend your overdraft on a temporary basis. However, if that's not possible, always make sure that you don't go into your overdraft or over the limit without authorisation as it can be extremely expensive.

The Payday Advance Option

A cheaper option to an unauthorised overdraft or bank and credit card charges is a payday advance or a payday loan.

These payday advance loans are designed for short-term use and can usually be arranged quickly. You can borrow up to £750 which you'll then be expected to repay when you next get paid from work. You'll usually repay around an extra £25 for every £100 you borrow.

Do a careful budget before applying for any loan so that you know exactly how much you can afford to repay – don't overstretch yourself by borrowing too much or your financial situation is likely to become worse.

Simple to apply and easy to manage payday loans

Applying for a payday loan is straightforward and you may well be accepted, even if you have a poor credit rating as your overall circumstances are considered rather than your credit rating alone.

When you apply online for a payday advance loan you'll be asked some basic questions such as your name, age, address and employment details.

Once you've been approved, the money from a payday loan may even be in your bank within a few hours.

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