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Many of us struggle to make ends meet from time to time, and the younger you are, the more likely you are to suffer from money problems. However, financial problems do not have to be the problem that you may, at first, assume them to be. There are ways out of any financial predicament, and one method that many people are choosing are instant payday loans. When you struggle to pay your household bills, then it can be daunting, but the payday loans can prove the ideal solution. These loans are specially designed to help people to make ends meet until their next payday, hence the name of the loans. Unfortunately, they are not a magic wand; they only work when used correctly. Correct use involves taking a loan only when you know that you can repay the debt on the following payday, or at a push, once the loan has rolled over no more than three months. Because people take out the loans knowing that they cannot repay the money, this type of loan has received a bad press in some quarters. However, it is irresponsible to take out a loan knowing that you cannot make the repayment on time. Therefore, our first piece of advice when considering such a loan is to ensure that you can, and will, repay the loan on time. Payday lenders generally offer smaller loans than the mainstream banks. This is because they are taken out over a shorter period of time. The amount that most payday lenders will lend, range from £100 to £750 per loan. You will not be able to take out another loan until you have repaid the original loan. However, the majority of lenders do allow their customers to roll their loans over until the following month, if, for some reason, they are unable to meet the repayments. If you do miss your repayment date, then you will still need to pay the interest accrued on the loan, which is generally a flat rate of a specific amount per £100 borrowed. Your lender will inform you of the details when you take out the loan, and the specific rules vary from lender to lender. In order to be eligible for UK instant payday loans, you will need to meet several requirements. Firstly, of course, you need to be at least 18 years of age. Next, you must be in paid employment and paid on a regular basis. You must have an active bank account, into which your salary is paid – this is the account into which the lenders will deposit the loan, it is also the account from which they will take the repayments. Lenders do run credit score tests on potential customers, but these are far less strict than with larger loans. Payday loans are relatively straightforward and the application process is simple. It takes a matter of minutes to apply for a loan, and you will receive a decision almost instantly. If successful, the money can be in your account in as little as one working day. For further information, please visit http://www.handycash.co.uk/
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