London, UK -- (SBWIRE) -- 01/05/2016 -- Moneyboat (moneyboat.co.uk), a payday uk company offering short term loans, announces they have now clocked 200 positive reviews, a notable achievement in an industry that has unfairly earned a bad reputation. This trend setting short term direct lender employs a friendly, discreet and polite customer service crew and provides clear and transparent terms. Clients know this company will be safe, secure and discreet when lending money to those in need.

"Moneyboat wants to ensure their loans are affordable and responsible and works to ensure clients understand exactly what they are doing and what they will be paying when obtaining a loan of this type. Many lenders have adjustable rates or charge upfront fees for processing the loan. This is not the case when a consumer works with Moneyboat. Interest is 0.7 percent per day and is calculated on any outstanding capital balance. In addition, there are no processing fees for the loan or upfront fees for same day payment," Nick Krauspe, spokesperson for Moneyboat.co.uk, explains.

One way many consumers get into trouble is they obtain a second loan while paying off a first. This can lead to money issues, as repayments on the two loans combined don't leave any money for other expenses. Consumers need to understand these loans aren't a long term financial situation.

"Moneyboat only allows a borrower to have one loan at any given time. Second concurrent loans, often referred to as top-up loans, aren't granted. A consumer must pay off their current loan before they become eligible for a new one. This helps to ensure consumers do not get in over their head," Krauspe continues.

Individuals need to develop a budget and stick with it when holiday shopping. As payday loans aren't difficult to obtain, it's easy to borrow money and spend more. Consumers need to stop and think about how much they are actually spending, however, when they go to obtain the loan. For example, Examiner.co.uk looked at the cost of a hoverboard. If an individual pays cash for this item, they pay approximately £300. It they make use of a payday loan to purchase the same item and repay the loan over three months, the cost rises to over £500 with the added interest.

"Is the item really worth it when interest is added? This is the question consumers need to ask when borrowing money to pay for a holiday gift. Many times, the consumer will find the answer is no and look for alternative ways to purchase the item or buy something different. Moneyboat remains committed to providing affordable solutions for consumers who need money fast, and consumers need to ensure they make use of this money responsibly. When both parties work together, everyone wins," Krauspe announces.

About Moneyboat.co.uk
Moneyboat operates as a direct lender, one offering affordable and responsible short term payday loans in the United Kingdom. This company provides a convenient way for responsible borrowers to obtain cash they need when they need it. Clients find the charges and repayments are easy to understand, and the streamlined lending process enables consumers to move on with life quickly. The company strives to offer stress free and convenient access to installment cash loans that suit the needs of customers. To ensure individuals borrow responsibly, Moneyboat informs customers that all applications that are approved are subject to passing through affordability and credit checks.