Eleven Eleven Media

‘PaydayLoans.co.uk’ Examines Pros and Cons of Payday Loans


West Midlands, UK -- (SBWIRE) -- 11/08/2011 -- Looking at a pile of bills that are due and realizing there is not enough money in the bank to cover them is an extremely stressful experience.

Unfortunately, with the current shaky state of the economy, this scenario is also quite common.

For the millions of people who are living paycheck to paycheck, the slightest added expense can throw off the ability to pay everything on time. All it takes is a medical emergency, car repair or trip to the veterinarian with a pet to make money extremely tight. With the holiday season on the horizon, more people than ever will need help making it to the next payday.

Many people who are in need of a short term loan turn to payday loan companies for help. These firms allow consumers to take out a cash advance that is usually paid back when the next pay check arrives.

A website has received a lot of attention lately for its ease of use and comparison of all payday loan providers. PaydayLoans.co.uk is an independent service that helps connect consumers with the payday loan lenders that are best-suited for them.

In addition to information about the various payday loan companies, the website also features educational and helpful articles about payday loans, including basic information as well as the pros and cons of using this type of cash advance.

“Payday loans enable you to receive a cash advance without resorting to long-term loans, or in other words - long-term debt,” an article on the company’s website explained.

Taking out a payday loan has no impact on your credit rating and you have the luxury of being able to discuss the terms of your finance situation with a bank/lender.”

Disadvantages of payday loans, the article noted, include that they are not suitable for long-term lending due to their high rate of interest. A payday loan is really only cost effective if used over a short-term monthly period.

But for cash-strapped, stressed people who need between £80 to £800 and sometimes even up to £1,000 to tide them over for a couple of weeks or so, payday loans can really help.

Using PaydayLoans.co.uk is easy; customers need only fill out a simple application right on the homepage. In most cases, applicants will receive an instant decision. At this point, consumers may compare payday loans and decide which option will be best for them.

About PaydayLoans.co.uk:
PaydayLoans.co.uk is the leading online resource for all payday loan providers. We are an independent service who allow connect consumers with the most appropriate payday loan lenders. A simple one stop application form gives those looking a payday loans the best chance of getting one. For more information, please visit http://www.paydayloans.co.uk