Quick Pay Day Loans – What do you think?

by Mike on November 18, 2012

Quick Pay Day Loans

Quick Pay Day Loans – Fickle Fad or useful?

Here is your chance for fame! After keeping an eye on my twitter and the community at large I have noticed a large payday loan movement particularly in the UK. From the number of searches per month (approx 3-4 million globally) its clear that many people are either interested in quick pay day loans or interested in the service this industry provides. For something different for this post I am offering my readers here on PFJ, Facebook / Twitter followers and my RSS feed an opportunity to provide me some feedback on Quick Pay Day Loans.

Who has used this service? Who has had good or bad experiences? Who would like to offer an opinion on a particular company or service offered in the payday loans industry? We want you!

I am inviting anyone to make a comment, to offer some wisdom or to offer an opinion on this topic to come forward and share with Personal Finance Journey and my readers your thoughts.

Simply reply to this article and I will add all the relevant comments along with summary further down.

If you want to post on PFJ facebook or on twitter click on our icons on the top right to connect to our pages.

So whats Different now? Quicker? Easier?

Pay Day loans aren’t a new idea, its quite simply a interest bearing short term non secured loan which often doesnt include a reference / credit check. Friends and community lending have used a similar idea for many hundreds of years. You found yourself in need of a few dollars and come up short. A friend lends you $20 and you repay $25 by way of thanks. Whats changed is the new ability of a global community to interact with one another and the massive spread of the Internet means that’s its more international, more online and there is greater ease of access for payday loans. You can access pay day loans online (one of the quick pay day loans sites I have found – and often have your answer and the cash in less than 15 minutes!!) via your computer with what is minimal documentation.

For those of us on longer pay cycles (monthly / fortnightly etc) getting caught without enough cash for an emergency is specifically where Pay Day Loans can come into usefulness for us. Car problems, a medical emergency or a problem around the house doesn’t understand the “I get paid in two weeks can you wait?” and simply requires you to find a solution now.

The Conclusion – Quick Pay Day Loans

It may take sometime for me to receive some feedback from my audience, other websites and with some luck some industry officials or representatives so for now lets say I managed to personally find mixed answers about this quick pay day loanskind of financial service. Like any financial advice, planning or investment scheme Quick Pay Day Loans can be good or bad and can often depend on finding a good organization you feel will do the right thing by you the borrower or with an emphasis on you  to act in a responsible manner to pay back the loan. Lets face it a personal loan or indeed a mortgage on a house which are often referred to low interest rate loans can be misused and create just as much trouble for a borrower.

An person irresponsible with money will always be irresponsible.


Community and Social Media response to this article will be found here;



***Photo thanks to I’mGeorge & Nick Bastian Tempe, AZ***

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