This is a blog-website about Cash Advances UK companies that operate in the British Isles.
A Cash Advance is actually just another way of saying what is better known as a Payday Loan. They also go by the name of payday advances, short-term loans, same day loans, instant loans, text loans, no credit check loans, quick loans, small loans or even SMS loans.
Essentially they all amount to the same thing: a cash advance on your pay cheque which is usually no longer in duration than one month. The cash advance loan is not secured with any collateral in the way that a pawnbroker loan is, but it is "secured" against your pay. The risk to the lender is that you don't get paid at mont end, quite a slim risk to be honest.
But a risk all the same. And they interest charges are high. They may seem to be unduely high. The reason they are so high is that there is a cetain amount of administration and transcation fees involved in issueing and collecting a loan, whether it is long-tewrm or short-term.
The interest fees are also high because the risk profile of the typical borrower is not good. Usually customers have a less-tahn-perfect credit rating.
I hope you enjoy reading the rest of this blog and in particular the articles we post.
The CashAdvancesUK.co.uk Team
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