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How Birmingham Residents Can Save Money with Payday Loans
If you have struggled to pay a bill on time or you considered taking out a loan but know your credit history would cause you to be rejected, then you are probably keenly aware that you should find ways to save money. What you may not know is that payday loans can be a great way to save yourself some money on your expenses. Read on to find out how they can help you reduce what you are paying for your expenditures.
Avoid High Interest Rates
How many of the bills you pay either every month or sporadically come with high interest rates? And those rates only increase if you don’t pay them on time. How much could you save if you were to pay off one of those expenses or if you were to pay it early?
In many cases, the answer is: a lot. Interest rates are not cheap, especially on some of the large bills that you can accrue. Medical bills, school loans and credit card bills are all commonly straddled with some of the highest interest rates around. If you know that you won’t be able to make a payment on time, then you also know that an increased interest rate or added fee will result and will make that expense even worse.
You can avoid those higher rates and fees by paying off a bill early. Perhaps you have a medical bill that you did not plan on. You know you can pay for it by your next pay cheque, but you don’t have the money right now. That’s where a payday loan can help you out. You can get the cash you need and pay the bill right away, avoiding the high rates and fees that accompany late payment.
Or consider that you have a credit card that is close to being paid off. You could make next month’s final payment right now and avoid the added interest rates that you are paying each month. Or you could pay off a credit card completely in one lump sum. Many credit card companies are willing to accept lower upfront payments if you are willing to pay for most of the credit card balance at once. A payday loan could come in handy there.
Get More Time with Payday Loans
Many of our Birmingham customers have experienced times where they just don’t have enough time to make the payments they need to make. The bills they are supposed to pay are pad late, and additional fees and expenses are accrued. But you can give yourself more time with your bills by using payday loans.
Consider if you have a bill due tomorrow, but your check won’t come until the end of the week. You know that if that bill is late by even a day, then you will have to pay a late fee and you might have to deal with changes to your contract. A late credit card payment while on a rehabilitation plan can hurt your plan and cause it to be drawn up again with new terms. This entire process hurts your credit score and makes it harder for you to get decent rates in the future.
If you would like to avoid that, then you might want to think about using a payday loan. You can make the payment you need to make with an instant cash infusion to your bank account. Then you can pay the loan back when you get paid.
The time you are given to pay back the loan could be longer than the time you have to pay your bill. Even if you get a few extra fays, it can be enough to save you from expensive fees, changed contracts or increased interest rates.
Thankfully, at Payday Loans Now, we act quickly. Our approval process takes mere minutes, and our applicants are almost always approved. All we need from you is proof of employment and proof of age. If you have a job and you are older than 18, then you likely already qualify for one of our loans.
And we make sure that we are not putting any unreasonable financial burdens on our customers. We have the most competitive rates for payday loans in Birmingham. We offer payday loans of £1000 with fees as low as £29. That’s less than 3% if your loan that you have to pay in addition to the loan itself.
This kind of rate is lower than what you would pay any number of creditors. And all our fees are presented upfront, so you know exactly how much you are paying. But as long as you pay the loan back in the initial timeframe, then you pay no additional fees. You won’t find a cheaper or faster way to get the cash you need than by using our payday loans.