The Seven Group Payday Loan
If your finances are a little
unstable, Christmas can provide a major headache. It's a time of year when we
all spend a little extra on food, drinks, gifts and parties, which can easily
push you into the red. So what can you do to avoid monetary misery in the New
Year?
One potential solution is to take
out a payday loan. Whilst increasing your debt and paying up to 30% interest
for the privilege might appear to be fuzzy thinking of the worst kind, it can
actually help to steer you clear of far worse financial perils.
For instance, what if you were to
miss a few bill payments or even find yourself unable to cover your
mortgage/rent in December. Just because it is Christmas, you shouldn't expect
any gifts from your creditors. Failure to meet payments or finding yourself
overdrawn will result in charges and could also impact your ability to get
loans, credit cards or overdraft extensions in the future. So if you're
prioritising presents over bills, you should definitely reconsider.
If you know that you will be
spending more this Christmas than your finances can stretch to, make sure you
take affirmative action and don't allow debt to consume your life.
Avoid missing payments
Payday loans are a quick solution
and for many people, they also provide the only viable alternative to
conventional forms of borrowing. Because you can have the money delivered
directly to your account within hours, they are also exceptionally useful for
when you find yourself in the tightest of spots. So perhaps you've been out
shopping for Christmas presents, spent a little more than expected and
remembered that you have a direct debit leaving your account the next morning.
Now unless you have the cash available and can reach a bank on time, ordinarily
you would just have to accept the consequences of missing the payment.
As previously mentioned though,
these consequences can be pretty severe, particularly where automated bank
payments are concerned. You will face at least one fine from your bank,
possibly even two if you become overdrawn as a consequence of the first charge,
and the intended recipient of this money may also apply an administrative fee
for the late payment. Essentially it can all get very expensive, very quickly.
Now if you were to apply for a
payday loan before on the evening before the payment was due, then you wouldn't
need to worry. Assuming that you choose a company that can guarantee same day
payments, the money should be in your account awaiting collection when the time
comes. Whilst you will have to factor in the cost of interest and any other
associated costs, this is still a far better option than allowing your account to
go into arrears and accepting the damage that this will do to your credit
rating.
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