3 MONTH PAYDAY LOANS - ADVNACE AGAINST YOUR SALARY

Recession has come as a curse to people all over the world. The employment situation in the UK has greatly suffered. The employee’s salary has reduced by a great margin. This makes it difficult for people to make ends meet. Thus they take 3 month payday loans against their paycheck

These advances are granted for various reasons. They maybe acquired to pay college fees, or go for a holiday.

Advantages;

 3month payday loans are sanctioned quickly. The borrower is not kept waiting.

These advances have a long repayment period i.e. 3months.

Disadvantages;

They are short term advances, thus a higher rate of interest is charged.

To be eligible the borrower requires fulfilling the following criteria;

• He should be a citizen of U.K.
• He should be above 18 years of age.
• He must be employed with a regular income of at least £1000.
• He should have an active bank account.
• He must also posses a credit card.

The borrower is granted credit ranging from £80 to £1500 for a period of up to 3 months

The repayment period can be extended. If the borrower extends his repayment period, he is charged a fee. The lender is the person who decides the amount of credit to be lent. He makes this decision depending upon the borrower’s repayment ability and his credibility.

3 month payday loans can also be applied for online .The application procedure is simple and user friendly. The applicant is only required to fill the application form which requires his details. The form is then sent to the lender for verification. After the application form is scrutinized by the lender, the finance is sanctioned. The advance reaches the borrowers account within 24 hours.

Summary;

3month payday loans are an advance which is granted against the paycheck of the applicant. This simply means that the advanced amount is to be repaid after 3months. These advances are lent in good faith. Thus no documentation is required to be submitted.

Article Source : EzineArticles