Archive for the ‘Loans’ Category

Quick cash available from unsecured loan companies

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December 8th, 2011

With many people finding themselves in precarious financial situations since the crash of the financial markets in 2008, unsecured loans offering quick cash are becoming more and more common. Many people are turning to the lenders which offer unsecured personal loans, requiring no collateral and providing fast cash within a few days of taking out the loan, in order to cover holes in their personal financial schedules. Perhaps the day of the month that rent is due comes a few days before the time when the borrower’s salary comes in, or maybe a sudden and unexpected expense – repairs to a car, home or appliance, a business opportunity too good to turn down, or the deposit for a holiday or tenancy agreement – has to be covered with emergency cash. This is when borrowers start trawling the internet for cheap loans which they can use to tide them over a few crucial days or weeks, and which aren’t going to cost the earth in interest rates.

It’s the level of the interest charged on loans that makes some people concerned about short term unsecured loans. These types of loans are always quicker and less complicated to arrange than secured loans, as there is no valuation of the property or ‘security’ to be done, and there’s usually a fairly straightforward standard contract. People who take out unsecured loans will often have the money in their bank accounts within a few days of signing the loan agreement, and some specialist ‘emergency’ lending companies will even transfer the money within a few hours of the contracts being signed. This is great for people who are in a financial emergency. But unfortunately, borrowers can often get carried away with the speed of the borrowing process, and forget to check the other important factor in loan provision: the amount of interest charged on the loan.

This is what people mean when they talk about ‘cheap loans.’ Very few companies charge a flat fee for borrowing (the exception is some Islamic financial services, as interest is not allowed under Islam), so ‘cheap’ in this area refers to the percentage of the loan charged as interest. Some unsecured loans can be very expensive, with several hundred per cent interest being charged. However, for those careful consumers who shop around, quick cash can be got hold of on a relatively low interest rate. And the quicker you repay the loan, the less time the interest will have to build up – so if you take out a fast cash loan, paying it back equally as quickly could mean that you end up losing very little in interest.

Please visit http://www.cashgenie.co.uk/ for further information about this topic.

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Advice, Loans, Personal Finance

Unsecured Loans Could Be The Way Forward

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October 2nd, 2011

Everyone knows that university students can find it tricky to keep control of their money. After spending their teenage years living on pocket money from parents, or perhaps a small amount of cash from a minimum wage Saturday job, suddenly having two large lump sums appear in the bank account every year can seem like a miracle. It’s normal for students to take advantage of the new situation by buying new clothes, going on trips or to festivals – or just boozing all night in the uni bar! But with those larger sums of money come larger bills: for the first time, they’re now responsible for coping with rent, bills and food. It’s no wonder that many fill the gap between student loans deposits with unsecured loans, getting a cash advance to tide them over until the next lump sum arrives.

Unsecured loans are a kind of loan designed for people who know – and can prove – that they’ll be getting enough money to pay back the loan by a given date (usually next payday, or for students, the date of the SLC deposit). They differ from secure loans because there’s no need for collateral: for most loans made by a bank, the lender makes sure they’ll get their money back by having the borrower sign a contract guaranteeing to give something of greater value than the loan – usually his or her house – if the money isn’t given back. A loan that isn’t ‘secured’ refers to a loan without a contract of this kind: instead, a slightly higher rate of interest is asked for on the loan, and it is paid back with the next paycheck or lump sum received by the borrower.

This type of loan appeals to students for several reasons. First of all, they know with certainty that they’ll be receiving an SLC payment by a given date, and so don’t have to worry, like many borrowers, about the interest accumulating to unmanageable levels. Secondly, students are usually ineligible for secured loans, because none of them (or very few!) have a house or small business to ‘put up’ as collateral to guarantee repayment of a secured loan. unsecured loans aren’t intended – like a mortgage, for instance – to be something that you pay back gradually over years. They are used as a ‘stopgap’ to supply money which the student wouldn’t otherwise get until a certain date. For instance: if a student loans payment is due on the 5th of the month, but rent has to be paid on the 1st – and too much cash has been squandered on nights out! – this type of loan can give the student a cash advance, which the student will be able to give back as soon as the 5th of the month comes round. This system has been found to give many students peace of mind, at the most difficult times.

Please visit http://www.cashgenieblog.co.uk/ for further information about this topic.

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Loans

Instant loan approval is a backup solution to money problems

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July 9th, 2011

‘Short term loan’ is a term that usually comes with a loaded image. At best, it’s an extortionately dear and rather dodgy loan that’s not worth the trouble; at worst, it’s the loan shark and his mates on your door step. But there are companies that can offer you a cash advance quite legally. The sums are typically subject to higher interest rates than you’d get from a bank – around 30 percent for the month – which is substantial. Nevertheless, in some cases instant loan approval can play its part in your finances. The trick is to think very carefully and determine whether this is one of those occasions.

It should go without saying that if you can avoid taking out a loan – any loan – then you should. It’s always more economical to pay for something up front than to do so on credit. Even the better forms of debt, like a mortgage, are expensive if you look at them in the long run. If you buy something on a credit card and pay back at the minimum rate (usually 2 percent per month or £5, whichever is more) you can end up paying three times as much as if you’d forked out cash.

Of course, there are times when it’s unavoidable to take out a loan, the mortgage being one obvious example. And there are times when unexpected expenses force you into debt. If you’ve run out of overdraft, maxed out your credit cards and can’t get a loan from a bank, then the short term loan might be your only hope – assuming you can’t get the money from friends or family. In these instances, a cash advance might be preferable to the other consequences of not finding the money. Without instant loan approval, what would happen? If it’s a month of having to cut costs here and there, it’s probably not worth it. But if it means you would rack up other costs and charges, or be unable to pay your rent, then it could be an answer. Just make sure that you use the breathing space it gives you to set your affairs in order, so that this is not a recurring problem. The idea is to use it as a last solution, not a regular answer that you end up going back to over and over.

Please visit http://www.cashgenieloans.co.uk/ for further information about this topic.

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Loans

No need for a credit card if you can find a short term loan

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October 14th, 2010

After finishing university, I moved out of my parents’ house pretty quickly, as I was keen to maintain the independence I had gained there.  Sometimes, though, it was quite tricky to keep up my rent payments when I was still feeling the strain of student debt.  Last May I became quite anxious because I just did not know how I was going to pay my rent.  It was so difficult because I knew that as soon as my next payday came I would be okay.  I started looking for a short term loan.  All I had to findwas a cash advance that would see me through until I next got paid.  Luckily, I found a company called Cash Genie who were able to give me instant loan approval and transfer the money into my account really quickly.

I was able to borrow between £75 and £750 – I was quite happy that the amount wasn’t higher as I knew I would have been tempted to take out a bigger loan, which I might not have been able to pay off as easily.  The application was fairly easy, as the only conditions I needed to fulfil were being over 18, employed, and earning over £500 per month.  These small loans are for people who do not have access to mainstream credit.  I could have got myself a credit card, but I was concerned that as I was struggling with cash a bit, I could end up with a huge credit card bill that I wouldn’t be able to pay back.

The company highlighted that they are a short term solution.  Indeed, you can only borrow from them for a 30 day period.  The speed was certainly a good thing for me though, as the instant loan approval was just what I needed.  After the cash was transferred to my account, I paid my rent immediately so I knew how much money I had left, and then worked out an exact budget for what I would be able to spend until my next payday, when I would have to pay back my loan.

I definitely think that for me, a short term loan was a better option than getting a credit card, which would almost certainly have left me in bigger amounts of debt.  The straightforwardness of getting a cash advance to last me through until my next payday made things really easy, and I didn’t have to fill in lots of forms.  And getting instant loan approval really gave me peace of mind, and saved my relationship with my landlord.

Please visit http://www.cashgenieloans.co.uk/ for further information about this topic.

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Advice, Loans, Personal Finance

The Cash Genie Blog is a minefield of useful information

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July 18th, 2010

Why do companies have a blog? One straightforward reason is to keep visitors to their website updated with the newest company news, events and special offers.

But a blog doesn’t necessarily merely cover company news. In fact it’s generally considered good practice to have various general posts as well as specific ones in order to offer variety for the readers. The Cash Genie blog is no exception. In fact it is a magician at providing helpful information, not merely  about the company, but about general financial subjects as well.

Cash Genie offers short-term loans; otherwise called pay-day loans. Loans range from £75 – £750 and they can be remitted to a customer’s bank account on the same day as the application is placed. Customers’ then have until their next salary to reimburse the loan with interest.

As you would therefore guess the blog posts are cash orientated. One of the topical general posts, for example, proffered advice on the top five ways to save and pay for your summer vacation. In these days of monetary hardship, that’s a subject that might interest everybody!

Other posts particuarly dealing with Cash Genie’s business have considered the differences between lenders and brokers, the firm’s refer a friend program and a new affiliate program they lately joined.

In March this year Cash Genie started a text service so that applicants could text the company with any enquiries they might have about their loan application. And of course they considered that the best way of letting customers know about the new service was to post a blog.

Blogs also provide a brilliant way for readers to interact with a firm. The mainstream blogs, including the Cash Genie blog, let readers to post comments and these provide the firm with a good idea of the feelings of the reader. Rarely comments may be erased by the moderator if they are thought to be insulting or irrelevant to the topic.

If you’re interested in obtaining a short-term loan, or just want some financial tips, you really should check out all of the wonderful advice given on the Cash Genie blog.

Please click http://www.cashgenieblog.co.uk/ for further information about this topic.

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Loans, Personal Finance