Have you ever been through a cash emergency but haven’t had the money to tide you through it? Very often in our day to day lives, we find that our monthly paycheck just isn’t enough to cover all our expenses. Unforeseen expenses such as visits to the doctor’s office or a car breakdown can’t be factored into your monthly budget, since they can occur anytime. Seasonal spending (Christmas, family vacations) can also turn out to be more expensive than originally planned. When you need some quick cash to bridge the gap between adjacent paydays, payday loans can be of immense help to you.

A payday loan is essentially a short-term loan that is secured against your next paycheck. Payday loans provide an instant solution to your emergency cash requirement, with absolutely no hassles. Payday loans are gaining phenomenal popularity due their simplicity, flexibility, and most importantly, their speed. People are increasingly turning to payday loans as a source of instant cash to fulfill their instant cash requirements.

Unlike conventional bank loans which involve long lines and tedious paperwork, payday loans are easy to apply for, and provide you with the cash you need within a matter of hours. In order to apply for a payday loan, you need to be over 18 years of age and a resident of the United Kingdom. You should also be employed with a regular income, and have a current bank account with a debit card. Banks have extremely stringent lending criteria, and most often they don’t provide loans to those with a not-so-perfect credit history. You can secure a payday loan even if you have poor credit, provided you fulfill the basic criteria mentioned above.

The process of applying for a payday loan is fast and simple. All you have to do if fill up a five minute application form and wait for the approval decision. Once your approval comes through, the payday loan amount is directly deposited in your bank account on the same day. Payday loans are therefore one of the fastest and easiest ways to get some quick cash. You must remember, however that a payday loan is a short-term that may be used to cover for an emergency shortfall of cash. Payday loans should not be used to manage existing debt, or considered as a long-term solutions to your financial problems.