PayDay Loans If You Must

Following on from my last post, "PayDay Loans Beware!", where I sort of put the dampeners on taking out payday loans , it befalls that I should really bring things back into balance by giving some of the positive benefits of payday loans.

PayDay loans are not all bad and they actually can be a financial lifesaver at certain times.

The plus side of payday loans is that they are easy to apply for online with a minimum of annoying forms to fill in or formalities to complete. They are fast - the cash can be in your bank account withing 24 to 48 hours depending on the lender and the time of day your application is approved. If it's done before the end of the banking day, then funds can literally appear in your bank account the same day!

Add to that convenience is the fact that even if your credit history is less than squeaky clean, you'll probably be approved for a fast payday loan. The interest you pay is quite high, but because you will be repaying the loan on your next pay day, you don't end up paying all that much over the amount you borrowed (assuming you do pay up when you should).

So in conclusion, as long as you repay the payday loan on time and only borrow as much as you really need and no more, then payday loans are of great benefit in the very short term when you really and truly need financial help to get you through a sticky period, which let's face it can happen to any of us from time to time.

So don't knock 'em - they're there if you need them!

PayDay Loans Page