If you are considering a payday loan, you may wish to keep in mind that there are some reasons for your application that may make sense and some that may give cause for a personal checkpoint.
The following may be examples of valid reasons for using the flexibility provided by a payday loan:
– you have a sudden, entirely unexpected, bill that just cannot wait until you next get paid (e.g. a broken down car etc);
– you suddenly realise, with horror, that you have forgotten the imminent birthday of someone very close to you and you need cash to get them something;
– you have the opportunity to snap up a rare bargain but you just do not have the cash right at that very moment;
– one of your children has just calmly told you that their shoes have fallen to pieces;
– you have seen a great ‘buy it now’ holiday offer but which requires the immediate payment of the deposit;
– you simply decide that it is about time your family had a quick evening out somewhere – but payday is still a few weeks away.
There are, however, some things that should cause you to perhaps think twice in terms of whether or not a payday cash advance may be a suitable solution to your requirements:
– you need borrowing of this type so that you can meet a repayment due on other borrowing;
– you are consolidating several debts and trying to repay them all out of a payday cash advance;
– you need to supplement your normal regular monthly income with a loan, simply in order for you to meet your normal regular monthly outgoings;
– a friend or acquaintance has asked you to apply for a loan in your name but which they will use;
– in a situation where you have reason to believe or know that you will be unable to repay the amount when you next get paid;
– if you have just lost your job or are about to do so.
In any of these situations above, a payday loan may not be a suitable mechanism to help. If necessary, you may wish to seek professional advice