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Monthly Archives: February 2018

Make Payday Claims

Luckily, if you feel your payday loan is not yielding the kind of results you expected because of one issue of another, it is possible to apply for a refund. The refunds are usually based on mis-selling by the lender or the payday loan providers and they can work on saving you from an agonizing financial situation. You can claim a refund if:

  • You feel the payday loan costs are ever increasing and sending you into more debt, thus making living a struggle for you. If you can hardly maintain your household bills and daily expenses because of repayments then you can claim for refund.
  • Repayments are automatically deducted from your credit card or bank account by your lender leaving you with insufficient funds to survive on.
  • You qualified for the payday loan even though you were suffering ill health or while you were on low incomes and benefits. All lenders are required to go through an evaluation process wisely to ensure that you can actually repay the loan as indicated.
  • The payday loan proved unaffordable and you really cannot repay without being subjected to undue difficulties. Whereas the loans come with high interests, some lenders charge hefty rates and attach other fees to the loans making them quite unaffordable in some circumstances.
  • The lender encouraged you rolling over the loan, thus resulting in more fees on your side. The lending terms should be clear for you and no lender should offer solutions just so they can reap you off in the end when you thought they were actually helping you out.
  • You have to borrow more funds to pay important bills like utility bills, rent and council tax just because you are servicing a payday loan.

Making the complaint

First, you would need to write a letter to the lender as a way of trying to sort out the issues at hand. Let the lender know where they have failed as per best practice charter and the set rules for such loans and express how you wish to resolve the problem. You can review repayments plans so you are able to pay what you can afford at convenient times.

If the lender fails to respond or sort out the problem as requested, you can take the complaint further to the financial ombudsman service. The office will look into the complaint and offer advice to sort it out and final decisions made binds the lender.

In case you still are not satisfied with the decision by the ombudsman service, you can take lender to court. It however should be your very last resort when making a claim because court cases can be long and tedious and they also come with charges. It helps to seek professional advice first before making it a court case.

Payroll Loans Support Finances

Some of these young adults have had a parent to rely on where money was concerned. Tuition was taken care of by either grants or scholarships and parents picked up the remaining cost. It is nice when parental financial help kick starts life in the real world with limited debt. Unfortunately, it is not the case for most graduates.

For those who have very little credit history or end college deep in debt, credit card approvals may be tough to acquire. So much of the financial industry is dependent on credit scores and history that beginners can struggle without family or friend support. Their work history is short-lived and a lender will reject applications or approve them with high interest attached. Payroll loans are no credit check fast cash opportunities when other efforts fail.

The grace period for student loans closes in fast. Six months seems like a lifetime when you are in school, but once you step out into the real world and begin a busy work schedule, fitting in a social life and perhaps a family, the time is gone in a flash. Now student loan payments are expected. The short-term loans will not help with this debt and one more debt problem needs to be solved. It would be quite difficult to deal with this payment as well as payroll online loans. If you had to use the service of a direct lender, get it completely paid off before the other large costs play into the budget.

Life experience will soon teach a young adult how the cost of living and a person’s income will define how much fun is to be had. Gone are the days of road trips and weekend extravaganzas. Now it is time to buckle down and figure out how to make it all work.

If you have family who can teach how to plan a budget, you are one of the lucky ones. Some young folks learned budget strategies from watching their parents while growing up. The rest will need to take it one step at a time.

*Make payments on time.

*Limit additional credit card debt.

*Refrain from using payroll loan lenders support when not absolutely necessary.

*Prepare your budget to include the upcoming student loan payments.

*Even during the student loan grace period, put the amount into a savings for emergency needs later.

*Work at paying down debt.

Overcome Financial Embarrassment

You start out having a safety net to fall back on that includes your parents, friends, or extended family. Then that drops back to banks and credit cards. Then your last line of defense, payday loans, and pawn shops. If you have ever gone into a pawn shop or payday loan lender, there tends to be a feeling of embarrassment or failure that goes along with it.

“How did I end up here?”

“Why did this happen to me?”

“Why does it cost $500 or more to fix anything that goes wrong with my car?”

Sound familiar? Well I’m here to tell you, THIS IS LIFE. Expect that bad things are going to happen, and trust me, no one is immune. At some point in everyone’s life, things suck. You have 2 choices: look at it like a challenge to overcome or throw in the towel. I’ve never been much of a towel throwing in type of guy, so here are some tips.

Leave embarrassment at the door

What you look like in front of other people doesn’t matter. Let me repeat that, What you look like in front of other people doesn’t matter!

Your neighbors, your family, your friends, your kids teachers, the postman, I really don’t care who it is. These people aren’t paying your bills or supporting your family, YOU ARE!

If you aren’t prepared to sacrifice a little dignity and pride, you picked the wrong planet to live on. Every situation I’ve ever gone into, I’ve repeated these words over and over in my head, “The worst they can do is say no”. Seriously, that’s the worst they can do. If they say no, just say “Thanks”, and walk back out the door. No one has ever been arrested for asking a question.

Be Nice

This is such a simple thing, but you would be amazed at how many people can’t do it. Something you have to remember, everybody likes dealing with someone who is understanding, patient, and polite. The people behind the counter are human beings, just like you. They have their own lives and getting frustrated with them won’t solve any of your problems. In general, I’ve found that the nicer I am, and the easier I make it on them, the more they bend over backwards to accommodate me. Extra days to pay, staying open 5 minutes later because I was running late, all because I was nice. It always seemed strange to me to argue with someone who is loaning me money.

Always return phone calls

This kind of goes along with being nice. If you are past due on something, not talking to your lender just makes things worse. In my experience, they are always willing to work something out with you. When they never hear from you is when they start taking drastic action. I worked in car collections when start out my career. It would never fail. I would call a person for 2 months straight and never speak to them. Guess what happened after their car got repossessed? They couldn’t call me fast enough. Avoiding the problem only made it worse. If they would have called and worked out arrangements, they would have probably still been driving their car. Contrary to what some people think, car lenders DON’T WANT YOUR CAR! The average loss on a repossession is $5000.00. They would much rather you keep driving and paying for your car.

Hopefully these tips will help you get mentally prepared to tackle whatever comes your way financially. I’ve found that internal strength beats external strength everyday of the week.

Instant Loans

Unsecured – This is probably one of the most important advantages presented by the short term loans of any kind. You do not have to bring in your car, your house or any other possession as collateral. This way, you can keep all your valuable assets safe and get the money you need urgently at the same time.

No credit check – In order to be eligible for a loan from the bank, you must have good credit scores, so no delays in paying your other financial obligations. The particular situation of the global economy made this nearly impossible, diminishing considerably your chances to obtain money when you need it. Fortunately, an immaculate credit history is not part of the requirements for getting instant loans.

Less complicated – You do not need to meet the representatives of the lender countless times before obtaining the loan. The number of the documents you must attach to your application is also considerably reduced compared to what you have to present to the bank.

Faster – There are certain situations when you need a quick cash advance and you cannot afford to wait for days in a row or even weeks. The period necessary for the application and the approval procedures to be completed is considerably shortened when applying online. This is one of the explanations behind the term of “instant loans”.

Varied – The credit institutions and the lenders offer you the possibility to borrow from as little as 50 dollars to 2,000 dollars, depending on how much you need at a certain point and on how consistent your income is.

Flexibility – Usually, the amount you owe is directly debited from your bank account when the repayment term expires. However, you can also make partial payments before the arrival of the due date. By doing this, you can diminish the sum you pay as interest. Downsides of Instant Loans

Higher costs – The interest rates applied for these credits are significantly higher than those applied for bank-granted loans. This is partly justified by the risks that the lenders assume by not asking for collaterals, lending money to bad credit applicants and requesting only basic information and documentation. The overall costs associated with the short term personal loans granted online reach 30% of the borrowed amount.

Short repayment time – It can be regarded as a drawback if you are not able to settle your finances in due time. However, most of the people who need cash advance now use the money to cover their expenses until payday, when they return it. From this point of view, the short duration of the repayment period is considered rather a benefit than a drawback, as they get rid of worries fast.

How to Identify Legit Offers for Instant Loans

The Internet simplifies your task of finding the payday credit that suits your needs and your income. Although a lot of reputable lenders are active online, there are also unscrupulous people who try to take advantage of your need for an emergency cash advance and get hands on your personal information or trick you into paying more than you should. From this point of view, you must check the details carefully before applying for a particular credit offer.

When you visit a site providing short term loans, make sure some physical information of the lender is included. Even if he or she does not have a regular office, you should be able to contact the lender directly and verify his or her contact information. If this is not possible, the advertised instant loans are probably nothing more than traps set by loan sharks.

The charged fees and the interest rate are other important details that appear on the site of a legitimate payday loans provider. You must avoid filling in the application with your personal information if the quantum of the costs is not clearly specified, because you can end up paying a lot more than you initially borrowed.