Sometimes you just need the money right now! When waiting for days to hear back from the bank isn’t an option, there are limited ways to get hold of small amounts of cash in a flash. In this quick article, we’re looking at the most reliable source of a same-day loan available — the payday loan. We’ll look at how these solutions work and everything you need to know before you apply. Have a read through to see if this loan option sounds right to you. We’ll kick off with:
What is a payday loan?
In one sentence, it’s a short-term loan that you get right away and are required to pay back as soon as possible. The main advantage of a payday loan is speed. Where most other types of loan can take days or weeks to arrange, a payday loan can reach you within hours of your application. At PPL, this is exactly the kind of loan we offer. In the vast majority of cases, we ensure the money is paid into your account within 24 hours.
Who uses payday loans most?
Usually, it’s people who are in very tough financial situations and have no other way of accessing the money they need as soon as possible. Whether an urgent cost has popped up that you didn’t expect, or you’re generally running low on cash for the month, we can offer the exact amount you need to get by until you next get paid your salary.
Long-term financial planning isn’t always as easy as people make it out to be. We all run into difficult times now and then. Our team is always perfectly understanding of everyone’s individual circumstances, so you never have to worry about awkward conversations when you’re dealing with professionals.
Do you need to have an amazing credit score?
No, you don’t! If you were to try applying for a fast credit card or normal loan from somewhere else, you’d need a stellar score to receive the best deals. Our loans work very differently. We don’t look at your credit history, this saves us time and ensures you can still access the money you need even if you’ve made some very destructive mistakes in the past.
We believe in giving people second chances, so we try to help everyone we possibly can. Our assessment is mainly based on your current income. As long as we can see that you are earning a steady amount each month, we’ll be confident you have the means to pay what you owe and will be able to make you an offer.
What can a payday loan be used for?
The most important thing is that you’re using the loan to settle an urgent need. We don’t encourage customers to use these loans for things like gambling, fashion shopping, holidays, or any other purchases that are more for fun than practical. The best way to afford these great things is to save money on daily bills until you have enough to pay for them yourself.
We understand that because of products like credit cards and easy access overdrafts, a lot of people might be in the habit of buying things they don’t really need. We’re more than happy to help advise you on what’s necessary and what’s not when you apply. Unlike other forms of credit, we don’t harm your credit score should we be unable to approve your first application. Instead, we try to work with you to find a solution that fits your circumstances as responsibly as possible.
It’s not in our interest to hand out loans left, right and centre to anyone that asks. This is what some vendors in the industry might do, but as far as we are concerned, it is destructive and unethical. Your safety and convenience are our number one priorities. Think you might struggle to cover everything this month? We’re here to help!The Best Way To Get A Same Day Loan Click To Tweet
If you want to learn more or have very specific questions that you’d like answered, don’t hesitate to get in touch with our friendly team. Our customer help team work during normal office hours, but our application process is available 24/7 through our website. All applications completed at night or in the early morning will be processed as soon as we get back into the office!
Read more about payday loans here, or in our previous blog post: 4 Facts About Payday Loans In NZ That You’ve Probably Never Heard