A payday loan is a short term loan of money borrowed to cover your outgoings until the end of the month, or whenever you next get paid. Payday Loans can be particularly useful for those unexpected situations that arise in life – perhaps your car breaks down and you don’t have enough cash to cover the repairs, or your suddenly receive a large utility bill. Even if you have a bad credit history you could still be considered for a payday loan.
One UK based firm that offers short term credit is PiggyBank. They specialize in Short Term Loans in the range of one hundred to one thousand pounds. Their online lending service makes borrowing money incredibly easy. Their website offers full transparency with an online loan calculator designed to let you choose the exact amount you need to borrow and the repayment schedule and term. After selecting your variables, you will be shown the exact breakdown of what you loan will cost. If you need to get hold of money quickly you will be pleased to hear they aim to pay your money within one hour of your successful application, and of course the entire process is incredibly convenient being online-based and available around the clock. No more rushing to the bank on your lunch break.
If your circumstances change, and for any reason you find you are unable to pay back your loan to the original agreed payment plan, you can talk to PiggyBank about their ‘responsible collections’ process.