Stuck in a Payday Loan Cycle?

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Payday Loans are designed to be emergency short term cash solutions which you can repay (in full) on your next payday. This idea is all well and good in theory, but what happens if for some reason or another you can’t afford to repay the loan when payday comes around? Usually the payday loan provider will allow you to just pay the interest on the loan, perhaps with an additional fee added on; you can then carry the balance over to your next payday and then hopefully make the full repayment then.

The problem with doing this is, you can easily get stuck in this cycle of repaying the interest on your payday loan each month. Because payday loans are designed to be repaid within a month, if you start paying the interest out over the year it can quickly end up being quite a bit of money. If you have several payday loans at the same time, the problem can be even worse and you may end up with not enough money to ever be able to repay the loan – you just keep paying the interest and losing money every single month.

A solution

If you find yourself in this situation or teetering on the edge of this predicament then one of our guarantor loans could provide you with the solution.

A loan from Guarantor Loans Company can enable to you repay all your payday loans and then simply pay 1 monthly affordable repayment at a much lower rate of interest than your payday loans were costing. This could save you a bundle of cash in no time at all and what’s better is that you’ll be paying off your loan balance each month so you know that at the end of the repayments you’ll be debt free once again. What’s even better is that a loan from Guarantor Loans Company can actually help improve your credit rating and open up a wealth of cheaper credit options down the road – no more excessive interest rates! We will consider anyone with existing bad credit or if you’re currently facing adverse circumstances in your life.

So, if you or someone you know is in a spiral of debts and interest, consider making an application using our quick and secure online form today. Perhaps you could save yourself a lot of money and aggravation.

The table below gives you a quick comparison between our representative rate compared to a typical rate found with other loan products;

These examples are all representative APR rates taken from a range of websites during May 2012.