Payday loans may seem a bit intimidating until more information is uncovered about the benefits of utilizing this simple way to bridge paydays.
However, a traditional loan is much more time consuming and difficult. Compared, this is how they measure up:
- If you apply for a payday loan (whether online or payday loans TV ads), you fill out a quick form and submit online or speak to someone on the telephone, who actually wants to give you money.
- If you apply for a traditional loan from a bank, you have to research all the interest rates, fill out mounds of paperwork, and make an appointment to speak to someone who really doesn't want to give out the loan.
- A payday loan is upfront about the interest rates and actually gives you options of paying off early with little or no penalties.
- Payday loans are advertised on TV, online, in the papers, and in other various media. There are even mobile apps for some payday loan companies.
- Traditional loans are not designed to be advertised.
- A payday loan is also intended for lower amounts that can be paid back in full upon your payday or alternatively other arrangements can be made.
- Traditional loans usually come with a minimum amount and monthly payments that can fall behind, resulting in expensive late fees.
You should compare the rates of the various payday loans. The easiest way to do this is to check them out online. This enables you to look at the rates side by side and choose the loan that fits your specific situation. Debit Card transaction is the standard way to pay off these loans so there's less chance of getting behind or forgetting to make your payment.
Payday loans TV ads are designed to bridge a gap between paydays to assist their customers during difficult times and to provide a service. Everyone experiences challenging times during the month - car trouble, an unexpected bill, or even a gift for that anniversary you forgot about!
Payday loans are useful in tight situations and will allow you to get through a difficult time with an affordable solution.
Representative: 1, 221.5% APR
Representative Example: Loan Amount: £100 for 30 days, Interest: £24, Interest rate: 292%pa (fixed), One total repayment of: £124 Representative 1, 221.5% APR.
* If your bank does not accept Faster Payments your funds may take a maximum of 48 hours to clear in your account. To check if your bank accepts faster payments More info
John Callaway (August 22, 1936 – June 23, 2009) was an American journalist, who appeared on radio and television as a host, interviewer and moderator. He was the original host of Chicago Tonight, a nightly news program broadcast on the Chicago, Illinois television station WTTW, serving in that role from 1984 to 1999.
John Callaway was born and...
To amend the Truth in Lending Act to establish additional payday loan disclosure requirements and other protections for consumers, and for other purposes.