There are times when it can feel as though we’re never going to make it to payday. This can sometimes be down to unexpected expenses, time taken off of work unpaid or other reasons why you are low on cash. Rather than let this worry you too much you need to take control and do something about this.
The good news is that when you do look into your different financial options, you should find that you have plenty of choices. What you need to do is make sure that you read up on as many of these as possible. That way you know that when you do choose the financial direction to go in, it is the right one for you.
Installment Loans
One option that works well for many people is to look at short term loans. These work as a cash advance and are often paid out quickly. What is important to remember is that these are designed to be short term fixes. If you have a long term issue with money then it is important that you look at other, more suitable options.
Installment loans are often referred to as payday loans or micro loans. This is because they are designed to be short term fixes, to get you through to the next pay day. There are different lenders that can offer these. You need to make sure that you read up on the one you are going to borrow money from. It is important that you know what you are committing to and that you can meet the terms of this agreement.
Applying for a Loan
The good news is that applying for a payday loan like this is easy. Although each website process will be different, they do often work in similar ways. A lot of instalment loans come without a credit check, so this is something that you don’t have to go through when you apply.
You’ll usually have to fill in a form with a number of your details. On top of your name and address you’ll need to give details of your income, outgoings and proof that you can pay it back. You’ll need to tell them how much you want to borrow and when you intend to pay it back.
When have done this they’ll usually then tell you how the repayment is made (usually debit card) and how much you’ll need to pay on the set date. If you’re happy with this then you click accept and they’ll check you details.
One of the best things about installment loans is that they usually give you an instant result – so you don’t have days of worrying whether you’ll get the funds. Then you’ll find if you are accepted the transfer of your money is often instant. Some of them will tell you that the money can take 24 hours but it is rare that loans of this nature take that long.
