When to pay back your loan
- Payday loans provide short term loans and cash advances until your next payday. When used in this way they offer competitive rates and a great service.
- The average period of time a fast payday loan covers is 31 days. You can roll your loan over to pay back at a later date, but when you do the interest may mounts up very quickly. When applying for loan make sure you can pay the money back on the date you agree with your lender.
Bridging the gap until payday
- Remember payday loans are designed to keep you going until payday, they shouldn’t be used as a long term solution to your borrowing needs.
- If you do find yourself struggling to make your payments contact the lender as soon as possible and arrange a plan that suits you both.
- There are many good debt counselling services out there offering free advice on all money problems. Citizens Advice and DirectGov are good places to start. Borrow wisely and take control of your money, don’t let money control you.
- The average period of time a fast payday loan covers is 31 days. You can roll your loan over to pay back at a later date, but when you do the interest may mounts up very quickly. When applying for loan make sure you can pay the money back on the date you agree with your lender.
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