Payday Blogs

Blog

Need some quick and easy cash?

User Rating: 0 / 5

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive
 

Need some quick and easy cash? A payday loan feels easy, but even now the amount of interest you pay has been capped, these loans are still an expensive nightmare- Martin Lawrence

Here at Payday Loan Claimmaster, we don't like payday loans. The majority of customers who obtain them, shouldn’t; however,  if you're still considering one, atleast try to protect yourself from plummeting further into financial difficulty. 

 

What you need to know: 

 

  1. Payday Loans are ‘short-term fixes’. They are easy to obtain which is what makes them so dangerous. Before you take one out, really consider the impact and if there’s any other way of manipulating your money so you don’t have to!

 

  1. They cost more for a month than credit cards do for a whole year! Try searching the web to see if there are low cost alternatives to consolidate all outgoings  before resorting to payday loans.

 

  1. If you’re regularly using Payday loans, there’s a deeper issue.  Payday loans should never be used continually to get you from one Pay day to the next. If this is happening to you, consider contacting debt charities like StepChange and Citizens advice to see how they can help reduce your monthly outgoings to stop this endless cycle. 

 

  1. If you can’t repay it on time, then you can’t afford to get one! Not paying these loans on the arranged repayment date, results in late charges, rollover charges and the money you owe could reach ridiculous new levels. Even if you are desperate and you don’t know how you’ll repay, we urge you to contact the above for debt advice and solutions before placing yourself in a potentially far worse situation. 

 

  1. They will use your card details and take money from your account whenever they want to! By giving them your details at the start of the application, they can use your card details to obtain their money and charges back whenever they choose! This could lead to more charges from your bank or take money away from priority bills like your rent and your utilities! 


There are many more ways in which a Payday Loan can negatively impact upon you and your family. Consider all the options first before you take one out. Educate yourself on the impact, consult with debt charities, local councils who offer grants and loans with lower interest rates; your family and friends; see if there any other routes before resorting to the Payday Loan trap.

 

Here at Payday Loan Claimmaster we can offer you free advice and support if you have ever received a Payday Loan. Let us help you get back on track and take a stand with you against the Payday Loan companies. 

 

Contact us today for no obligation, free advice.