Payday loans are short-term loans that can be arranged for small sums of money, available from internet sites and high street shops.
Because interest rates for these loans are high, your debts can quickly get out of control, so it’s advisable to shop around and compare interest rates and charges before borrowing. It is also advisable to make sure you know what the consequences are if you are unable to pay the amount back.
Payday loans are short-term loans for small amounts of cash
Interest rates are very high
Understand the features of the loan, including how much you will have to pay back, the consequences for failing to pay back and potential charges for not paying it back on time
Payday loans are unsuitable for long-term borrowing
If you find that you’re relying on short-term high-interest credit like payday loans to pay for essentials, it’s a sign that you could need debt help.
There are various options available to help you manage any debt accrued, including debt consolidation and debt management plans. Get in touch with one of our friendly and professional advisors who will be able to talk to you about your available options.
Fresh Start UK has helped more than 12,000 people gain control of their finances and become debt-free. If you’re struggling with debt and finding it tough to keep up with your bills, speak to an advisor today.Get Started
Do you want to eliminate all contact from creditors? A Debt Management Plan can help you do just that, reducing your stress and worry immediately.
As a leading Debt Management Company, Fresh Start UK deals with thousands of cases each year and are able to provide our clients with free, confidential advice to prevent debts from becoming insurmountable. Get in touch with us today to find out more.
Money Helper has replaced the Money Advice Service and brings together the support and services of three government-backed financial guidance providers: the Money Advice Service, the Pensions Advisory Service and Pension Wise.