Payday loans explained

paydayHello dear reader. This is the first post at 24 payday loans UK, which outlines what this financial blog is about.

So what is this blog all about? As the name says it, this is about finance and loans, most specifically payday loans as they are offered in the UK.

Payday loans is a rather recent phenomenon which did not exist 20 years ago. In a nutshell a payday loan is a short -term loan where the next payday check is used as collateral. These loans are for small amounts (usually not more than 1000  £) and do not request any credit check. The only prerequisite is to be employed so that your next pay check can be used as a guarantee to repay the loan. The rates applied to these instant-cash loan is higher than regular rates and this is understandable given that no good credit history is necessary to obtain the loan.

These payday loans are sometimes referred as instant-cash because it is possible to get the cash in your bank account in less than one hour if you apply to one of the online lenders. This is one of the main advantages of these short-term loans, and such a speedy access to easy cash was never before possible in human history. The other main benefit is that no credit history check is needed.

Opponents to this form of borrowing outline the negative aspect, which is high rates and fees. And the fact that they are nor properly regulated, unlike in the USA. This is why payday loans should be used with caution and moderation. They are very helpful if you have an immediate need some urgent money, to pay for a doctor bill or a fine. But do not use such loans to pay for your daily or monthly expenses like food or rent. Because these costs are recurring, you may fall into a spiral of bad debt and ultimately default and file for bankruptcy.

Payday loans are still in their infancy and regulation needs to be improved in order to protect the poorest citizens against such risks as well as abuses by the least honest operators. Also each country is different. The largest market is the USA, followed by the UK. Because of the prolonged recession since 2008 more and more households are financially distressed and payday loans can be a risky solution to them.

This was a brief introduction of the blog theme. Looking forward we will bring you any news and information related to UK payday loans so that you can make a wise decision before committing to such borrowing. Have a good day.

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Payday loans made easy

need some cashPayday loans are a fine solution for those time when you just need a hundred dollars or so to get the car fixed or pay some other little, unexpected bill. But when you need to borrow more money than you can comfortable pay out of your next check, you need payday loan alternatives.

The fact is that any payday loan will be hard to repay out of one single check. Most people are living paycheck to paycheck, and taking that $100 cash advance today can leave you short on groceries when it’s time to pay that $100 back along with interest and other fees. What we offer is not a payday loan, it’s something better.

You can say no payday loans when you learn about the non payday loans that are available without a credit check. These loans are designed to be paid back over 30, 60 or 90 days so you can spread the payments over several paychecks. Rather than having to make sure the full amount is in the bank on your next payday, you can make smaller payments and avoid being short again the next time around.

These loans are better than a payday loan because they don’t create a dangerous cycle of taking out too many payday loans. Because the repayment terms are affordable and more realistic, you can avoid getting stuck in the trap of constantly having to ask for an extension and being hit with more fees. If you are thinking, I need a personal loan not a payday loan, then we can help you.

The personal loans offered can be used to cover rent when there is a shortfall, or you can get necessary car repairs made. Whatever your need is for the cash advance, we can help you.

The biggest difference between these loans and short-term payday loans is that you do not have to be paid back from your next paycheck. You can pay us back over the course of 30, 60 or 90 days so you won’t find yourself having to choose between making the payment to us and buying groceries for the family.

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Faxless payday loans

cashThe payday loans no faxing process allows you to be certain you will be able to take care of your financial situation with no problems.

Don’t have a fax machine?

The cash advance no fax machine required process ensures that even if you do not have access to a fax machine you can still apply for a cash advance. All you need is a computer connected to the Internet.

With a cash advance no fax required you can apply online for the cash advance loans no fax you need at any time of day or night or even during the weekend.  Financial emergencies do not always occur when financial institutions are open during regular hours. It may not always be convenient for you to apply for payday loans no fax during regular business hours. With the cash advance without faxing process you can apply for payday loans without faxing whenever it is most convenient for you, no matter when that might be.

As most of the approval process is controlled by computer programs and the lending operators have staff working 24/7, you may be able to borrow at any time. How about borrowing from a bank during a banking holiday of just before Christmas? Good luck to you.

Payday loan no faxing required allows you the simplest and easiest way to receive the money you need. There is no need to lose sleep at night or make yourself ill stressing and worrying over how you are going to pay your bills. Take advantage of the payday loan no fax process.

A cash advance with no faxing can also help you to avoid insufficient funds fees or late fees on your bills. Furthermore, you can stop worrying about having your utilities cut off or other unpleasant consequences because you are running low on cash. With a payday loan the entire process can provide you with peace of mind. Payday loans with no faxing only requires a few minutes, is completely confidential and can be handled at a time that is most convenient for you.

There is no other solution when you want to borrow some cash on a short notice unless you contact friends and family. But it is recommended not to take that path as once you mix personal relations and financial matters, you are risking that relation. If anything goes wrong or if there is a delay, your friends may not be happy and will keep a dent against you in the future. Or your family reputation will downgrade. It is better to borrow confidentially from professional payday loan lenders.

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How to reduce inheritance tax

Any taxes which occur as the result of a person passing away are typically referred to as “Inheritance Taxes.”  They are also called Death or Estate Taxes as they are usually levied on the total value of the deceased person’s money and property, in other words, their estate.  However, there are differences between estate taxes and tax on inheritance where international tax laws are concerned.

Estate taxes usually apply to those individuals or the deceased’s representatives that have inherited the estate proceeds of that deceased individual, whereas the income tax on inheritance is levied on the estate’s beneficiaries.  However, the distinction between the two where international tax law is concerned is oftentimes vague.  For instance, in the UK, the personal representatives of the estate have to pay inheritance taxes when in fact this is actually an estate tax.

Steps to reducing income tax on inheritance

There are basically 5 steps to saving money and reducing your income tax on inheritance and we have listed the information here in the hopes that it helps you in this area:

Step #1:  Start “gifting” your children now – you can give your children up to $13,000 annually (£3,000 in the UK).  Cash gifts given annually to your children in small amounts will help to reduce your tax liability.

Step #2:  You (and your spouse, if there is one) need to make a plan – if there are more assets and you will exceed the IRS’ inheritance tax limits, consider gifting some to your spouse if her assets put here beneath those limits.

Step #3:  If you have not set up an irrevocable trust with your life insurance company, you should consider doing so immediately – be sure to name your children as the beneficiaries on your policy when you set it up.  The proceeds of the trust will not be subject to tax when you die.

Step #4:  Help your children with their education expenses – normally, gifts in the form of education expenses (in the US) will not be taxed so long as the money goes directly to the college or university.

Step #5:  Consider setting up a QTIP Trust – these will allow you to bequeath any assets to your spouse when you die, should there still be assets left in your estate at that point in time.  However, make sure that you still name your children as beneficiaries.  If your spouse dies first, those assets may count towards their limit on the inheritance tax so the above may not apply.

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Payday Loans Are Easy

some cashSecuring payday loans is easy.

Just fill out the quick online application and we will match you with the right lender offering payday loans. They will deposit your cash into your bank account for you. It couldn’t be any easier! Apply today if you need the fast emergency cash offered by today’s newer, safer and better payday loans. Fill out our easy form and get started right now!

Payday loans are easier to get than traditional personal loans from a bank. Payday loans are also easier to pay back, since it’s taken from your next paycheck electronically. All you have to do to pay back payday loans is to sit back and let your direct deposited paycheck do its job. As long as you don’t spend your next paycheck, you will have paid back your payday loan.

Payday Loans vs. Overdraft Fees

And paying back payday loans is so much easier than paying overdraft fees on your checking account, or late payment fees on your credit card!

When the average fee per $100 for payday loans is just $15, you even save money. That’s because banks have drastically increased fees on every service they offer, from low balance fees to overdraft fees. Bounced check fees are stiff nowadays, with the highest fees in the South, around $30 for just one overdraft instance.

Even the lower fees on overdraft occurrences at a bank are higher than the $15 per $100 of payday loans. The “lower” fees for overdraft at banks are $25! And the news isn’t getting any better! Bigger banks charge higher overdraft fees. With constant banking mergers these days, we can look forward to higher and higher fees. Bigger banks leads to escalating fees. The current wave of banking mergers and more to come means payday loans will be an even better deal compared to overdrawing your checking account or bouncing a check.

Competition on Payday Loans is Good for You!

While banks are merging and getting bigger, causing checking account fees to escalate, fees and terms on payday loans are actually getting lower. Fees for payday loans are on average lower today than they were just two years ago. That’s because as the industry matures, competition gets stronger and lenders have to compete for your business. Payday loans are becoming more cost effective as competition grows among lenders and other industry players like online marketplaces that act as clearinghouses for payday loans.

Banks offer overdraft protection but they usually charge for it. How many months of paying overdraft protection fees to your bank before it adds up to more than the fees for payday loans? Even if you are paying for overdraft protection you may not be getting the best deal when you just don’t have enough money for an emergency. If your choices are between overdrawing your bank account and payday loans, sometimes payday loans make more sense.

Paying for overdraft protection may just mean that you don’t incur the bounced check fee from the retail merchant. You still may get a fee from your bank. So this “protection” can still cost a lot! Average overdraft protection fees are $26 per incident. So, you get charged a higher fee than for payday loans. Not only that, but the bank will start charging interest the minute the overdraft occurs. Rates for this are typically 8% to 18%. Payday loans are different. They charge the fee but no interest. Again, payday loans can be the wiser choice!

If you’ve decided payday loans are for you, simply apply here online. It only takes a few minutes and you have access to your emergency cash within one business day.

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