Sunday, 11 November 2007

Short term loans

Things happen. When you least of all want/need something unexpected to happen, they do. I guess Murphy's Law is right after all, because things happen when you're not prepared. And since you're not prepared, money can be an issue.

This is where Payday Loans come in handy. I had heard about them before but didn't know what they were. Now I do. They are short term loans made especially to lend you a hand when you need money quickly. Getting a loan is very easy - you just fill in a form with your personal information and bank account information, wait until a lender contacts you and then work out the terms together. Normally you have to repay your loan within a month or less. Easy come, easy go kind of loan. That's why they're called "pay day loans" because you have to repay as soon as your next paycheck comes. There are several repayment options: Do nothing and your loan will auto-finance, pay off the loan in full, renew the loan and pay interest and fees only and finally, renew the loan and pay interest and part of the principal.