Trouble is always around the corner, more so than ever in this harsh economic climate. Just when you thought you were on top of things, something always happens to knock you back to the ground. With a low income and rising expenses, life is difficult for many in this ongoing recession.
Fortunately, companies like MyJar can help you out with unexpected expenses. You may have found yourself in a position where you need money fast and you’re still far from your next payday. If you’re in this position, you might be asking yourself: “is a payday loan right for me?”
Getting into trouble
You didn’t ask for it, but there it is anyway. Your work van’s broken down and there’s no way you can afford the necessary repairs before you get paid next. If you wait until your next payday, you’ll sacrifice making money until then. It’s an unsustainable and unsavoury situation to be in.
On the other hand, you could suffer from problems in your house. Perhaps your pipes have burst, or your boiler has packed in with a month of harsh winter left to go. Again, you’ve got the same problem: you’re miles away from payday, and the cold is creeping in.
Getting out of trouble
If you want to avoid borrowing money from your family or friends, which will probably involve unnecessary personal complications, your best bet is to take out a payday loan. Companies like MyJar offer this service.
Once you’ve submitted a loan application, providing your bank details, contact details and proof of regular income, they will check your credit and borrowing history and then make a judgement based on your personal circumstances. If they believe you’ll be able to repay the loan, then the money will be in your account within 24 hours.
Staying out of trouble
Some people tend to fumble the ball even after they’ve received the loan. It’s important that you’re realistic about your ability to repay it. If for some reason it occurs to you that you may not be able to meet the deadline, it is your duty to let the lender know as soon as possible, ideally before the deadline, so they can start taking measures to make repayment on a later date possible.
You may have to pay late payment fines because of this, so make sure that you plan on when and how you’re going to use your payday wages to repay the loan.