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Aug 7, 2018

Appreciating The Benefits and Risks of Short Term Loans

Living paycheck to paycheck is never fun, but unfortunately it is a day to day reality of the overwhelming majority of people in the workforce today.

Financial obligations that all of us have to contend with in our modern world continue to conspire to prevent us from saving any real amount of money. In fact, an American research firm found that the overwhelming majority of adults in that country found it impossible to meet a $500 emergency financial obligation – and the statistics here in the United Kingdom aren’t all that different.

Would you be able to meet a £300 financial emergency right now if you have to?

Thankfully though, with the help of short-term loans – usually in the form of payday loans – we don’t have to worry about those sticky financial situations negatively impacting us as much as we did in the past.

Organizations like Payday Pug are designed to help us keep our heads above water when it comes to our finances, providing quality payday loans that aren’t predatory or filled with overwhelming interest rates and finance charges.

To learn a little more about the benefits as well as the risks of moving forward with payday loans, we encourage you to read the information below.


Payday loans are incredibly advantageous when you find yourself faced with a financial emergency that couldn’t have been anticipated or avoided, particularly if you are savings isn’t quite what it should be. These loans make their funds available almost immediately, giving you the opportunity to take advantage of those financial emergencies ASAP.

Secondly, these loans are not going to require that you put up any collateral to take advantage of them the way that other short-term loans may. You’ll have to fill out a simple application for your initial evaluation, but if you are determined to have been moved for these payday loans you’ll be able to take advantage of the cash and capital provided with no strings attached.

Finally, the loan process for these short-term loans is incredibly quick. You can move through the entire process in about five minutes or so, and sometimes even less – and you’ll almost always be able to apply for these kinds of loans on the internet, around-the-clock.


These short-term loans are not ideal for helping you to overcome long-term financial issues.

It’s best to think of these loans as “Band-Aids” to help you stem the bleeding from a financial emergency rather than as a viable solution to overcome all of your financial struggles and pitfalls moving forward.

Secondly, because these loans do not ask for collateral upfront, they almost always come with pretty high interest rates. This is the price individuals have to pay for a no credit check and no collateral lending opportunity, but the short duration and relatively small maximum amount of money available through these loans make the higher interest rates a lot more palatable.

All things considered, you want to be sure that you are always moving forward with the best lender in the business. There are some predatory operations out there you’ll want to avoid, but you’ll always be in the best of hands when you choose to move forward with Payday Pug.

Negotiate a Better Rate of Interest for your Subsequent Payday Loans
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Representative example: if you borrow £550 over 18 months at a flat rate of 180% per annum (fixed) with a representative 770% APR you will make 18 monthly payments of £113.06, repaying £2,035.08 in total. Rates from 45.3% APR to 1721% APR. A short term high cost loan should not be used as a long term solution. We are a broker not a lender. We don't charge fees. We don't sell your personal information. We may receive a commission from the lender.

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