Wednesday, 24 April 2013

Will the UK population ever get out of this recession and seemingly endless cycle of debt?

Yes, the bad news is continuing. The cost of living keeps growing, and so does inflation. Every day households are coming under increasingly more pressure to make ends meet. Even families with two wage earners are struggling to meet all their bills and expenses.

The UK’s Office for National Statistics recently published a report saying that the total household debt in the UK between 2008 and 2010 had mounted to over £94 billion!

It would not be unrealistic to imagine this figure is even higher now, three years later. Or is it?

People are cutting back on their spending and borrowing in every way they can. We think of the the reasons people are turning to PayDay loans as a solution is because they are quick and simple to access, yes, but more importantly, the debt is paid of much more quickly!

Loans are not taken out for months or even years. The cash is borrowed for a matter of weeks then it is cleared. Customers are telling us the ability to access help, if needed, and clear it quickly is what they want. It gives them the control.

AS always, you must seriously consider your options when applying for any type of loan. Payday loans are designed to be short term only. Please do not rush into anything and carefully consider a PayDay loan. If you feel you have longer term financial problems that may require a longer term solution, a short term loan may not provide the financial relief you need.


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