Payday Express Highlights The Benefits Of Payday Loans
Released on: September 13, 2011, 10:07 am
Following a rise in the number of people using short-term
loans to advance their income at the end of financially difficult
months, provider Payday Express has offered an insight into the
benefits of this straightforward credit resource.
Payday loans meet the needs of customers who are looking to borrow a relatively
small amount of money to be repaid over a short period – often to ease personal cash
flow in a month with unusual or additional expenses.
These short-term loans, also known as fast payday loans, act like a salary
advance, providing a way to bridge the gap when money is tight before the next
payday. Funds are generally paid out on the same day upon which they’ve been applied
for; and are then paid back once a person has received their next wage payment.
The demand for such loans is on the rise, with financial price comparison website
Moneysupermarket.com reporting a 400 per cent increase in the number of searches for
the products between January and March this year.
Payday Express Operations Manager Sarah Carroll said: “For customers who have
temporary cash flow issues because of larger than anticipated bills and expenses
within a month, or who are faced with emergency expenses, payday loans offer
customers a choice alongside other credit options.
“This choice is often cheaper than alternatives, such as an unauthorised overdraft –
and it is a simple solution to short-term credit needs, where the cost and duration
of the loan is known upfront, and which doesn’t involve running up long term debt.”
The company is keen to stress that same day loans are not designed for unemployed people or those on very low incomes or
Instead, they offer a straightforward choice to employed people who have simply
found themselves a bit short between paydays. The loans are simple to apply for
online; funds are received quickly, sometimes even within an hour; and the repayment
structure is clear.
Customers know from the very beginning exactly what needs to be repaid and when. For
example, if a person borrows £80, they will need to pay back £100 once their next
wage instalment has been received. This is generally cheaper than incurring
unauthorised overdraft fees and can be more appropriate than arranging a longer term
bank loan when credit is only required for a short period.
About Payday Express:
Payday Express is one of the UK’s leading payday advance loans specialists and has
been helping people across the country get access to instant approval payday loans since 1999. The company is committed to responsible lending and
provides customers with a discreet and reliable service that will cover their
short-term credit needs.
For further information contact: Ashleigh Slade
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