Instant cash advances - Borrowing a small loan
Needing a small amount of cash quickly can raise a number of problems for those trying to get it. If you suffer from bad credit, this can only make trying to get the money more difficult. In the past, it was common for young families to borrow money from older parents, or other members of the family, but this system no longer works, and the family are left struggling. When all you need is a small amount of money, say £100, then a bank might also be unwilling to lend. In this situation, your best option might be to try and get the money using an instant payday loan.
Do your Research
Your first port of call will be the internet. There are many instant payday loans who operate entirely online, and they might be able to offer you better interest rates than those on the ground. When looking for paycheque loans online, you might start by looking at a comparison website. Entering the details of your need into the search box will throw up some names which you can then look at further. You can also adjust the perimeters of the loan on order to find the perfect loan. When you have a few names on your list, you can then look more closely at them. Make sure that they will offer £100 as their lowest amount, as some companies have a lower limit on the amount you borrow that will force you to take out more than the plain one hundred.
Select the Type of Loan
There are a number of payday loans online advances which offer different services. You might want to consider a no credit check payday advance if you have very poor credit. This will allow you to get a better deal, and will help to avoid people researching your credit history. You can also apply for a payday loan no faxing deal, which will do away with the need for documentation. This makes for a speedy decision on your loan, and without the credit check it will only be judged on its own merit, rather than being affected by other problems.
Calculate How Much You Will Pay
You should then work out how much you will pay. If you have decided to take out the no credit check advance, then you may expect to pay slightly over the odds for the paycheque loan. Most companies offer between £15 and £25 on every £100, and with a bad credit rating, you can expect to be paying nearer to the top end for this sum.
Paying Back the Loan
You will also need to carefully consider how you will pay back the loan. The short-term nature of the paycheque advance means that you can expect to have to repay in 28-31 days. This will be the entire sum of the loan. If you fail to pay back the loan, you will incur high charges, and your credit rating will also take another knock.