Payday Loans | 24/7 Moneybox Blog

Posts Tagged ‘payday loans’

Payday loans: fast, efficient and paid off painlessly

Sunday, September 5th, 2010

If your finding that it is becoming increasingly difficult to get to payday without becoming overdrawn than it might be time you came and spoke to us about taking out a payday loan. A payday loan is a very short term loan designed usually for about 26 days, basically as an emergency cash injection to tide you over till the next paycheque can come in. The idea behind the payday loan is to give you cash as quick as possible so you can cover all your urgent expenses. What about if you have a bad credit rating? Well this shouldn’t be a problem either, we can offer people £50 to £800, and as long as you have a regular income then you won’t have any problems.

People choose our service because they are more confident that they will have a jobquick in 30 days time rather than taking out a bank loan which will force them to pay off for the next five years, who knows where you’ll be in five years and more importantly whether you will have a job by then.

So if you want a loan that you know you will be confident in paying off then come speak to us here at 24/7 Moneybox.com. We can offer you the chance to get the money you need to cover your debts until your next paycheque.

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Tags: bank loans, pay check, pay cheque, payday loans
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Capping loan interest rates will hurt consumers

Sunday, August 29th, 2010

The OFT decided against capping interest rates in the payday loan industry back in June, as stated in the Guardian. This met with a lot of criticism, in particular people have argued that the high levels of interest are exploitative, and that they prey on people who are susceptible to accumulating debt. However, we feel that this criticism is unfounded and argue that this industry offers a very popular and above board service regulated by the FSA.

The OFT has said that the market works ‘reasonably well’, this means that the price of the service we offer has a reasonable reflection to the cost of the product we offer. We offer short term loans therefore you are paying for convenience and speed of service, as well as the risk we have to underwrite for not doing extensive checks into your personal details.

An unreasonable market, on the other hand, would assume that the prices are unfairly inflated above what they cost and that a few companies receive a disproportionate amount of profit. An unreasonable market would have an oligopoly or monopolistic structure (where only a few companies dominate the market), and there would be obstacles to new companies joining the market and sharing the profit. However, if you read these articles from the Guardian or BBC News the payday loan market has swelled with new competitors and new customers.

Does this sound like a market which allows companies to charge exploitative prices/interest rates? I think not. In fact how exploitative are the interest rates we offer? Well many people are put off with numbers like 2500% APR, these seem high but the fact is that they are Annualized interest rates, therefore designed to compare loans which extend over a year, we offer loans for up to 31 days therefore APR inflates our rates.

If you freeze the price mechanism that companies compete on then they will have to find another way to generate revenue to break even, this will come in the form of excessive late charges, administrative fees and other hidden costs. Who will be the people who lose out? The people who apparently are more susceptible to becoming indebted. Therefore interest rates will keep costs clear to the consumer, and by keeping a ludicrously inflated APR rate as a measure, this should deter anyone who is bad with borrowing.

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Tags: APR, Interest rates, payday loans, recession
Posted in APR, credit crunch, inflation, payday loans, recession, small print | No Comments »

24/7 quicker than the bank (and probably less wet too!)

Thursday, August 26th, 2010

Are you finding its increasingly difficult to find any money to do the things you want to do? Well then it might be time you considered getting a payady loan from us here at 24/7 Moneybox. We offer you the chance to get cash fast and without the hassle a bank loan would offer you. Our loans are designed to be quick and easy, and when it comes to paying off your next paycheque will clear the debt instantly allowing you to relax!

Compare this to a regular bank loan. First think about having to go out and walk down to the bank, waiting in line to be served by someone who will make you fill in a mountain of paper work. Then think about all the hassle about getting your loan, and the whole procedure ou have to go through to pay it off. Now think of 24/7 Moneybox. We can get you money fast, simply log on to our website at 247moneybox.com and fill in an application form, this shouldn’t take you more than 5 minutes. Then we’ll give you a call at a time most convenient to you and ask you a few questions. This shouldn’t take long. When we’ve got what we need we can send you the money. This should be in your bank account within the next couple of days. So there you go! The money you need without even having to risk getting wet in this terrible summer of ours!

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Tags: bank loans, fast money, payday loans
Posted in Money saving, Uncategorized, holiday money, payday loans | No Comments »

Growth of the payday loan industry explained

Wednesday, August 18th, 2010

Many broadsheets have noticed the growth in the payday loan market. In general it is reported that the number of payday loans being offered quadrupled since 1996. 1.2m people are borrowing a total of £1.2bn altogether. Most journalists have obviously pointed out the risk and danger of borrowing, constantly referring to the idea that everyone struggles to payback and that the industry takes advantage of people who struggle to be prudent pushing them into a ‘debt cycle’. In particular highlighting the high rate of APR that payday loans involve.

However, people seem don’t seem to understand that this is an emergency service. We offer loans on a very short term basis. They are usually used to ensure that people don’t become overdrawn, or late on utlity bills. The short term nature of duration of our loans (usually lasting around 20 days) distorts the APR, an annualised rate, which inflates the our loans making them seem exploitative. The market, as has been illustrated above, is swelling up with new competitors suggesting that the market is working relatively freely. Therefore if companies here have been able to survive charging such high interest rates then surely this suggests a situation close to the natural free market price. Therefore interest rates are this high because they have to be to cover costs and risk, rather than to extract profit.

We offer the chance to get money fast. We do not hide any details, the process is simple if you want a short term loan paid off by your next paycheque simply come talk to us at 247Moneybox.com. We can give you the chance to get instant cash by first filling out an online application form. So if you are in dire need of money then don’t delay get a payday loan today.

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Tags: payday loans
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How can I use a cash advance loan from 24/7 Moneybox to clear my outstanding financial difficulties?

Sunday, June 6th, 2010

The cash advance loan from 24/7 Moneybox is designed as a short term loan solution to financial difficulty. When you have outstanding debts and financial payments that need to be paid off urgently. The payday loan is not designed as a long term solution, a well structured prudent financial plan is needed, however, in order to have the time and opportunity to build a plan then a short term loan solution is needed. The loan itself is taken out and then when your next pay cheque arrives it goes towards paying off the loan and interest payment.

In order to take out the loan all you need to do is get onto out website at 247moneybox.com. Here you can apply online, for this application form you will need the following bits of information; first of all we need your name, address, date of birth and phone number. Then after this we will give you a call to discuss some more of your application form. Here we want to ensure you are who you say you are, then if you really want a payday loan and finally if you are going to be able to pay off the loan comfortably when your next pay cheque comes in.

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Tags: no credit check, payday loans, text loans
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Alleviate your finances with an injection of cash

Sunday, May 30th, 2010

With the current state of economic conditions it might become more and more crucial that people use a payday loan to deal with their outstanding debt problems, this is where 24-7 Moneybox comes in, we can offer people the chance to get fast, which can be spent on paying back over due payments or paying off debts. This article will look as some ways you can enjoy yourself despite being on a strict financial budget, relaxation is important to clearing your debt, therefore making sure you can get away for a short vacation is still important.

First of all use travel websites to get a good comparison of deals. These will allow you to put in information for hotels, car rentals and flights to make sure you get the right fit which doesn’t stretch your purse strings.

Second; make sure you keep up to date with exchange rates, it will certainly pay off massively if you can get away to somewhere where the exchange rate is overpriced. Here your money will go further, make sure you spend it all though as the money won’t convert back well if its still overpriced.

Third; try and travel at off-peak times, not only will things be cheaper but you will get to avoid the rush and thousands of screaming children. Best times as a rule of thumb is during school terms.

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Tags: holiday money, Money saving, payday loans
Posted in Money saving, Online shopping, holiday money | No Comments »

How Technology is Changing the Way we Apply for Loans

Thursday, March 25th, 2010

The banking system has suffered a series of catastrophic blows in recent years, but there is hope, and by offering a system of banking that takes advantage of modern technologies, then finance can awaken to a new golden age, which will have profound effects on how we access our money.

Specifically, 24/7 Moneybox is able to offer its customers loans via text or online application. In order to qualify for making text applications you simply need to be a registered member, which incurs a fee of £3.50. The rest is easy and by following the simple commands outlined in the “text loans” section of the 24/7 Moneybox applying for a loan can be as simple as 1-2-3 or should that be as simple as 82727 (which is the text loan number).

As well as applying for loans via text, 24/7 Moneybox are also able to offer you access to emergency loans via a simple online process. Basically, all you need to do to gain access to fast loans is to apply, and you don’t even need to have a spotless credit rating! And payment can even be made within 24 hours if the loan is needed instantly!

It is clear that the way we deal with our finances is changing, and nowadays most of our financial activity takes place online, therefore it is only natural that we are now able to access instant loans online via payday loans, and by choosing a company like 24/7 Moneybox you can be guaranteed of value, convenience and security.

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Tags: fast loans, pay day loan, payday loans, text loans
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Novel Ways to Handle your Finances

Wednesday, March 24th, 2010

With the collapse of the banking system, it may seem that your finances are no longer in your own hands. However, converse to the troubles that the banking system is suffering, the modern age has truly begun to offer us control over our finances. Now with the advent of pay day loans, gaining access to emergency loans has never been easier.

It used to be the case that to gain access to our bank accounts, we would have to travel to our nearest branch, which throws up some obvious issues regarding commuting costs and convenience. Then came the advent of telephone banking ,which brought our finances within reach and gave us a taste of what convenient banking could achieve; yet there were still some issues regarding functionality and security. Only in the modern age, however, have we only truly begun to experience the convenience of online banking, and the convenience of having our financial affairs at our fingertips.

Nevertheless, for truly convenient fast loans it is best for payday loans companies such as 24/7 Moneybox to take centre stage. 24/7 Moneybox, for instance is able to offer emergency loans no matter what your credit history and can have the money transferred in to your bank account within 24 hours if needs be. In fact, payday loans are so convenient that it is even possible to arrange a fast loan via text, or if this is just a little bit too convenient then online application is also available.

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Tags: emergency loans, fast loans, pay day loans, payday loans, payday loans companies
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How are Payday Loans most Effectively Utilised?

Tuesday, March 23rd, 2010

Financial security is an aspiration for all of us, but circumstances are often out of our hands. If the worst should happen, however, or if your finances just need a shot in the arm, a great solution is payday loans – should you use them right!

The first and most important issue, should you be considering payday loans is “will I be able to pay it back?” And to ensure that you will, reputable payday loan companies such as 24/7 Moneybox will only offer you instant cash loans should you be employed and earning a regular income; this is not only to protect the loan company from an inability to make repayments, but it also protects the consumer from taking out a loan to solve more serious financial problems.

This is a serious point, and like any loan, payday loans shouldn’t be used as a quick fix for serious financial issues i.e. they shouldn’t be used to meet payments on other loans. And before taking out a payday loan you should ideally be aware of when and how you are going to pay it back. It is often helpful to think of pay day loans as emergency loans, should your finances come under a temporary cataclysm. They are a fantastic and convenient way to steer you through the dense fog of un-predicted financial problems and are a great temporary solution immediate problems – they are not, however, a permanent fix for problems such as debt and bad credit!

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Tags: emergency loans, instant cash loans, payday loan companies, payday loans
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Payday Loans UK – A Novel Industry

Thursday, March 18th, 2010

Getting a loan used to be an awkward process, and involved lengthy credit checks, bank visits and difficult contracts. In terms of bank loans, this process seems to be stuck in the past and getting a loan can still be a difficult endeavour. With payday loans, however, you can take advantage of a service that is truly modern.

One of the characteristics of payday loans offered by 24/7 Moneybox are their unrivalled convenience; this is only possible due to ingenious utilization of modern technologies. Quite obviously online payday loans can be easily applied for via the internet, and it has never before been easier to gain access to emergency loans. Via the internet, this process consists of a simple online application and it is possible to achieve funds within 24 hours! Simple as that, and remember you don’t need no fax for

This, however, isn’t the whole story, and as well as a super-simple online application process, 24/7 Moneybox can also grant you access to funds via text! This is surely the epitome of convenience, and for only £1 (plus your normal network rate) 24/7 Moneybox are able to offer this service. The fact that payday loans are now available via text is surely testament to their status as the most convenient form of fast loans available!

So, whilst the banking system seems to be stuck floundering in the past, you can be sure that with a payday loan you will be getting the best that modernity has to offer.

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