We all need cash but there will be times in life when you need to get your hands on cash in a quick manner. Of course, just because you need money in a hurry doesn’t mean that you can or should take risks with your money. It makes sense to look for ways in which you can find money safely and securely. This is often the issue for many people but when you need to obtain finance at short notice; there are many things you need to consider.
First of all, you really need to be certain about how much money you actually need. In general terms, we could all do with having access to money but in reality, if you are looking to borrow money, you should only do so when you really need the money.
Borrowing money or making loan applications when you don’t really need to is a sure-fire way to create further financial problems for yourself so before you rush into an application, take the time to consider whether you really need to borrow the money.
Have you received a bill out of the blue?
It may be that you have been hit by a bill out of the blue or something has arisen that has left you needing quick finance. Some of the most common reasons why people need money in a hurry include:
- Your car breaking down and it has to be repaired at short notice
- The boiler at your home stops working and you need to call out a professional to look at it/repair it
- Your washing machine, oven or fried/freezer has stopped working
- There is a school event that needs paying at short notice
- You need urgent dental work or glasses
There is a wide range of reasons why you may need to get your hands on money at short notice but it is vital that you only look for safe and secure options.
Sadly in the United Kingdom there has been a rise in the number of loan sharks operating around the country. Considering the demand for people and the amount of people who are being denied access to traditional loans, you can see why this situation has arisen. If people didn’t desperately need money and were unable to borrow in traditional ways, there wouldn’t be the opportunity for loan sharks to provide a service.
Of course, there is this opportunity and many people find themselves without any other option but to take out a loan with a loan shark. This can cause a lot of problems and many people find that their financial problems grow very quickly.
Loan sharks need to be avoided at all costs
A large factor in why so many people are turning towards loan sharks can be found in the high criteria that traditional lenders use for deciding who should receive a loan. This is definitely something that needs to be examined because with so many people being denied access to loans, it is inevitable that people will look for alternative solutions.
It would be helpful if people knew that there were alternative ways to obtain money at short notice in a safe and secure manner. Thankfully there is. One smart way to obtain additional finance at short notice is to apply for a guarantor loan. This style of loan can only be applied for online, so this helps to speed up the process. The application process only takes a couple of minutes to complete, so this is an ideal option for people looking for money in a hurry.
The presence of the guarantor is the key factor in why this is a suitable loan. This is because the lending company looks at the credit score of the guarantor, not the applicant. This helps to lower the APR which means that the borrower will pay less money to pay off the loan.
This style of loan is much preferable to a guarantor loan for many reasons but the fact that it can be paid back over a number of months is a great starting point. Add in the fact that this style of loan has a much more attractive rate of APR than a payday loan and you see why so many people now decide that a guarantor loan is the ideal option when they need money in a hurry.
Andrew Reilly is a freelance writer with a focus on news stories and consumer interest articles. He has been writing professionally for 9 years but has been writing for as long as he can care to remember. When Andrew isn’t sat behind a laptop or researching a story, he will be found watching a gig or a game of football.