One In Five Of Us Struggle To Pay Bills

It’s safe to say that monthly budgets are strained at the moment and many families all over the country are struggling each month.

New research has shown that around 20% of us in the UK are struggling financially and are unable to cover basic bills and outgoings every month. The reason for this seems to be down to many people having their wages frozen, coupled with food costs on the rise.

This research which was conducted by in their Affordability Tipping point survey, found that if a households monthly bills increased by just £50, they would not be able to cover the costs.

A Financial expert at, Clare Francis, said: “The fact a rise in outgoings of £50 or less would tip a third of Brits to ‘financial breaking point’ speaks volumes about how difficult people are finding things at the moment.”

Pay Bills

If this sounds familiar then one of the first things that you should look into is ensuring that you have the best deal for you. It might be worth doing a bit of research into your electric and gas company to make sure that you’re getting the most of your money. You might find that it would be cheaper to get both from the same company, or even to split them if you’re currently getting them from the same supplier.

According to the survey, around 25% of adults are turning to credit cards to pay for monthly expenses, but what are the other options? Well, if you simply need help with your finances on a temporary basis and don’t want to use a credit card, then another option could be taking out a short term loan from one of many direct text loan lenders UK.

Payday loan companies offer a product called payday loans, which are small amounts of money which their customers borrow for short periods of time. Worth checking out!

Yes It Is Possible To Get A Loan If You Have Bad Credit

There are so many people in the world today who have bad credit and need some extra cash. Unfortunately because they have bad credit they do not think that they will qualify for a loan to help with the cash they need. The good news is that there are loan available that more than likely you will qualify for. These loans are called guaranteed high-risk personal loans. These loan programs will help to get you the money you need without having to worry about your past credit history and score.

You Can Borrow Up to $3000

Guaranteed high risk personal loans can give you the option of having a personal loan approved up to the amount of $3000 and you have the option of getting approved for this today. There are thousands of people in the same financial position as you and everyone is getting a second chance.

Get A Loan with bad credit

Everyone has a different reason for needing to have access to cash quickly and is interested in obtaining a guaranteed high-risk personal loan. The most common of these reasons include unexpected car repairs, medical expenses, a judgment brought against you, or even a simple vacation to get away from things. The reasons for this loan are endless. However when you need money fast you will need to know and understand that there is still a loan you might qualify for and have the money deposited directly into your account.

How To Apply And Receive The Funds

These types of loans are very simple and easy to qualify for and the application process is also very easy and convenient. You will find that the loan application is online and is secure. It will ask you the general loan questions such as your name, address, contact information as well as your employer information and bank account information. It might also ask you how much you wish to borrow. Once you loan is approved the lender will then hold a personal check of yours that is post dated for the amount that you owe. It will then be taken out of your checking account on your next payday. The process simple and painless unless of course you do not have the funds available to be withdrawn for the payment of the loan. Then the loan can get very costly.


Loans such as these are very easy to be approved for and can get your cash to you quickly. The approval rate for these loans is almost one hundred percent if you have current employment and a bank account in good standing. It is even possible to be approved if you receive your income from another source such as social security or child support.

These loans should be considered a short-term financial solution and should not be considered for a long-term solution to a problem. However if you are in need of cash and you need it quickly this type of loan will be a good solution for you.

Buy the Car of your Dream with Auto Loans

If you want to buy a new auto, but do not have enough money for doing this, consider applying for guaranteed auto loans. Auto loans are personal loans taken for purchasing a vehicle. To get the money, a borrower and a lender sign an agreement where they indicate the borrowed amount and loan terms. A borrower is obliged to return the money with interest within the stipulated period of time.

When applying for an auto loan it is necessary to consider several important points. The first thing you need to do is to determine how much you need to borrow and whether or not you will be able to pay the money back. Only after making a detailed calculation you can submit a loan application.

When making calculations do not forget that the repayment amount will consist of the initial amount you borrow and interest, which a loan provider charges for giving you the money. To find the most competitive interest rates, it is recommended to shop around and compare rates offered by not less than five lenders.

Late payments will have negative effect on your credit score, as well as will make you pay additional money. It is necessary to understand that if you have bad credit history you will be charged higher interest rates.

To be eligible for an auto loan a borrower must have the UK citizenship, be of legal age, and have minimum income of not less than 15 hundred pounds per month.

Think of a Short Term Loan as a Little Bridge

Are you trying to get from one place to another? Are you stressed out about how long this is taking you? If you’re finding that you just can’t seem to get things to flow smoothly together, chances are good that you really need some outside assistance. The question now is: where do you get that type of help, and how fast can you get it?

The Rise of the Short Term Loan

In the past, people shunned loans at all costs. They were hoping that they would get help from their families, from old friends that owed favors…the list goes on and on. But if you’re trying to ask a coworker or another family member for money, you could be in for a big shock: they don’t have any money to loan you. Even if you’re dealing with someone that you swear up and down has plenty of money to loan you, there’s no guarantee that they’re actually going to be in a position to loan you the money. You’ll just end up feeling a little sheepish…and without the money that you need.

Short Term Loan

The short term loan, by contrast, is superior because it is private. Even the most inquisitive family members aren’t going to know what’s going on in your life unless you tell them. Telling family about your financial problems can have a negative effect that you didn’t anticipate. If they feel that you can’t handle your finances now, they may feel that this is something permanent. You simply lose all respect in their eyes, which is something that you never expected.

Unless you’re going to win the lottery, you really should consider the short term loan. It’s very fast, and it’s all based on steady income and employment. Keep in mind that you don’t have to make loads and loads of money. This isn’t a bank loan, where you practically get the best rates based on how easily you can afford not to get the loan fully funded by the bank. With a short term loan, it’s a little bit of quid designed to get you over the challenges that you’re facing. A short term bridge, if you will.

To get started with your short term loan, you will want to apply online. The rise of these “cyber loans” is a great thing for today’s consumer looking to get in the game, stay in the game, and grow their finances over time — in spite of emergencies!

Crush Your Stress With a Same Day Loan

Stress, stress, stress — the financial world is full of stressed out people. Sometimes life just creeps up on you, and you have to make sure that you do just about everything in your power to get things done. Gone are the days where you could just wait till the last minute to handle everything properly. You want to make absolutely sure that you are focused on getting the right things done at the right times. Anything less than that is going to end up messing with your financial future quite a bit.

Don’t beat yourself up if you made a mistake. The truth is that most of the financial mistakes people make are actually fixable if they would just focus on fixing them. Instead, people panic and give up before they’ve had a chance to do anything. If you’re finding that you’re spinning your wheels financially, a same day loan can get you back on track. These are pretty fast loans that allow you to really get things done — there’s no waiting, no fuss, and no hassle. You just apply online and you’re good to go. Of course, you must make sure that you’re getting the right information and application terms.

Same Day Loan

We can’t stress this enough — beating yourself up is not the answer. Neither is running around trying to approach all of your family and friends. You have to be able to look at the situation and realize that now is the time to take action. Hesitating is only going to make the problem worse. There just comes a point where you have to realize that the cost of inaction is truly the greatest cost of all. The problem with trying to get things set up in a slow manner is that your financial emergency could still be raging. What if you could skip the hassle and pain and move right into the solution phase? Loans let you do that, and you can pay them back at a slower pace than what your financial emergency demanded. Give it a chance and you might be surprised at how the world opens up for you. Just don’t forget to apply online for the best results around!

6 Payday Loan Alternatives

Are you looking for quick cash to ease your financial worries? Applying to payday loan lenders is certainly one option that you can explore, but in some cases it is not always the right choice.

With this in mind, let’s take a look at some payday loan alternatives:

Use your savings

If you have an emergency financial situation, then maybe you could dip into your savings account to get some quick cash? Sure, this is not an ideal situation, but it’s probably better than taking out a high interest loan.

Ask family members

Most people never consider asking family members for help when they are short of cash, but it is certainly a viable option, especially if your situation is urgent. Remember, your family members won’t charge you interest, so it can be a good way to loan a small amount of cash.

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Contact your bank

Another good alternative to payday loans is to contact your bank. You might be able to get a small personal loan if you have a good relationship with them, or they may even extend your current overdraft, which means you will have immediate access to extra funds.

Apply for a credit card

Many credit card companies now offer introductory rates for new customers, which means you can often get a credit card with a low interest rate or even a 0% interest rate. Just make sure that you pay off the balance as soon as possible, because once the introductory rate is over you will then be charged a much higher rate.

Sell some items

Maybe you have some unwanted items just lying around the house? If so, then you can turn these items into immediate cash, by selling them online, taking them to a pawnshop, or even having your very own garage sale.

Sure, you probably won’t get full value when you are looking for a quick sale, but some money is better than no money.

Ask your employer

Payday loans are high interest loans that you can get until your next ìpaycheck.î With this in mind, why not cut out the middleman and go directly to the source by asking your employer for a cash advance on your wages.

At the end of the day, the worst thing that they can say is no, and if successful, you can get the money you need without having to pay interest or worry about late payment fees or debt collectors turning up at your house.

Capping Payday Loan Rates – is this the answer?

Despite only being introduced to the UK around 5 years ago, payday loans have quickly become one of the most popular types of credit in the UK. Their opportunistic marketing campaigns and constant media attention have meant that we’re now unable to open a newspaper or turn on the TV without seeing articles and advertisements related to this short term credit source.

Ever since their introduction, payday loans have been surrounded in controversy regarding their interest rates, debt collection strategies, marketing campaigns and flexible lending criteria. This has forced the OFT to carry out investigations on a range of payday lenders. While many of these investigations have highlighted very few problems regarding the regulation of these companies, a handful of firms have been shut down as a result.

The most recent revelation surrounding payday loans has been regarding a cap being put on the interest rates. The OFT have proposed that there should be a limit to the interest rate that payday lenders are able to charge, arguing that this will help to reduce the amount of people getting into trouble with payday loan debt.

There is no doubt that payday loan debt is becoming a problem in the UK, however will capping these rates help to solve this problem? We’ve investigated various theories in a hope to answer this question.

Daily Fines

StepChange (a well-known debt charity) receive hundreds of calls every day from people struggling with payday loan debt, and although they do partially blame the high interest rates, they identified the late payment penalty charges as the real problem.

Different payday loan firms will have different late payment procedures, some will charge daily penalties, and others will simply let the interest mount at a rate of one percent per day. This means that the longer you go without paying, the larger the balance is going to get, so before long, you could be facing a balance that is twice what you initially borrowed.


Multiple Loans

As outlined above, if a debtor misses their scheduled payment, charges will be attached to the account, this in itself is a problem. However, the real problem starts when someone takes out another payday loan in order to pay off their current payday debt.

Payday loans are designed to be a short term fix and using them for any purpose other than this will result in financial problems. Using payday loans to pay off current payday loan debt is known as the ‘payday loan trap’ – the longer it goes on the more trouble the debtor gets into.


Many payday loan lenders now allow you to log into your account online and extend the promise date. While this seems like a good idea in tough times, it can prove to be very costly. This is because an ‘administration fee’ will be added to the balance, and of course interest will accrue at the normal rate.

Having multiple loans rolling over at the same time is very dangerous, and is not recommended under any circumstances.

Capping the rates – the solution?

Many will argue that the high interest rates are the source of the problem, but capping them will not be the solution. This poses the question, what would be a more suitable solution?

Some have suggested that capping the amount of payday loans a person can have at any given time would solve the problem of the payday loan trap. The problem with this is; how would it be implemented? Payday lenders pride themselves on offering a very quick turnaround; anything that could slow this process down would not be welcomed.

Currently there is nothing circulating to suggest what the rates will be capped to, or indeed whether it will actually happen. Many feel that the successfulness of the interest rate cap will be dependent on what it is capped too. Many also feel that if the cap is significant, we could see the end of payday loans as they’re known in the UK.

This article has been written by Jason Scott on behalf of Guarantor Loans Online, for more up to date information on the loan market visit

Types of Loans for Home Based Businesses

More individuals are choosing to work from home, drawn by the lure of blogging and ecommerce. If you truly want to turn your new home business into a full-time job, however, you might need to plan on investing some start-up money in it. This money could be used to purchase inventory for an online shop or to help offset advertising costs, for example. In these cases, you may find yourself in need of a loan to help pay for your start-up home business costs. It’s best to examine your different loan types carefully to find the right fit for your needs. For home businesses, the two most common types of loans on offer are small business loans and home equity loans.

Small Business Loans

Because a business run from home falls under the category of a small business, it follows that a small business loan could be the right option. Although there are many different terms and conditions that could accompany small business loans, they are quite similar to regular business loans. You can expect to present a business plan to a loan officer. This should lay out your business background, goals, and projected financial figures. In addition to a business plan, a loan officer will also look at your credit rating, experience in your chosen field, and the likelihood of your business succeeding. One of the benefits of taking out this type of loan is that you don’t have to answer to a board as you would if you found investors.


Your business plan is the most important part of landing a small business loan. Even if you have just started a website using basic e-commerce solutions, you must appear confident in your meeting with a loan officer. Be prepared to state how much money you need and why, along with the timeframe in which you expect to be able to pay it back. Be sure to be both conservative and realistic in your loan application. If you have difficulty making timely loan repayments, it could affect your credit score and ability to gain additional financing for your business in the future.

Home Equity Loans

Another type of loan that is typically used by home business owners is a home equity loan. This is only available to homeowners, however. This type of loan uses the equity you have built in your home as collateral for a new loan. It is considered to be low risk for the lender, making it easier to secure and with lower interest rates. One factor to consider is that in today’s tight housing market, lenders are more cautious about home equity loans. You may not be able to borrow as much with this type of loan as you would with a traditional small business loan. However, for many small businesses you don’t need too much start-up money at first. For example, if you are running an online business you may only need funding for ecommerce development, which can be quite cost-effective.

The specific terms and conditions of both types of loans will vary quite a bit between lenders, so it’s best to compare all options carefully. The right financing situation will depend on the type of home business you run as well as your projected sales goals.

Are Guarantor Loans the same as Joint Application Loans?

Despite the concept of the guarantor loan being well established, there is still a lot of confusion regarding the similarity between guarantor loans and joint application loans. It is very important to understand that guarantor loans are definitely not the same as joint applications and below we will highlight the differences and why the similarities could cause confusion

What is the main similarity?

The main similarity (and this is where much of the confusion arises) is that both of these loans require the signatures of two people before the loan can be agreed. Essentially, this is where the similarities begin and end though. The first and main difference is a joint loan application is where two people (typically married or residing at the same property) are looking for a loan.  For any joint loan application, both applicants are equally responsible for all aspects of the loan, including jointly making the repayments. They can also jointly decide how the money is going to be used. In the eyes of the lender, this ensures that there are two applicants/borrowers of equal status.

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What is the main difference?

Guarantor loans on the other hand are completely different.  The loan applicant is solely responsible for making the loan repayments. The guarantor is put in place to ensure that the lender receives additional security as they will be expected to step in and make the payments should the borrower fail to do so. The role of the guarantor will remain redundant unless the applicant fails to keep up with their repayments. Only when this point has been reached will the lender call upon the guarantor to make payments. This obligation will have been made clear from the outset to the guarantor, both verbally and in writing and prior to the loan agreement being signed by all three parties (applicant, guarantor and lender). The guarantor will have to continue making payments on behalf of the borrower until the borrower is in a position to resume making their payments once more.

Essentially Different

Another crucial difference between both loans is possibly less well publicised and this is that most joint loan applicants will not only live together but also be financially linked. This means they may share a joint bank account or jointly contribute to paying off a mortgage. By contrast, it is absolutely essential that a loan guarantor is not financially linked to the applicant in any way. This is because it would clearly undermine the legitimacy of the guarantee that they are providing to the applicant.

The majority of guarantors do not live with the applicant and there is no prior financial association between the two parties. Spouses cannot act as guarantors, but friends and family are eligible to act in this role providing they meet the other specified criteria.

By taking the above facts into account, it becomes clear that guarantor loans and joint applications are completely different instruments and are not variants of each other. A guarantor performs a specific purpose, giving the lender some comfort that the loan will still be repaid even if the borrower defaults. This in turn allows the applicant to access credit that would otherwise be declined. Joint applicants are responsible for making all of the repayments together.

Bio – Amanda Gillam

I am a freelance writer who currently works for a finance company called Solution Loans I hold a degree in financial management and I write regarding many different topics including finance, transport, travel, sport and business.