- Emma Anderson
- June 23, 2020
Unfortunately, the unpredictability of the modern world we live in has ensured that we are bound to suffer financial setbacks or financial shortfalls.
However, these can be sorted out by loans, which frankly to me are the best part of living in a continually inflating and supremely expensive world,
More often than not, securing a loan helps us get out of the troubling financial labyrinth in which we find ourselves.
You must know that every financial dilemma we find ourselves in is different. Some can wait, and some cannot.
Buying a Smart TV for your home may seem urgent.
However, getting your broken down car repaired will have precedence over the purchase of the TV.
Therefore, every need cannot be satisfied with the same kind of loan.
For your urgent needs that cannot wait for even 24 hours will require you to obtain a loan that can be procured quickly enough.
Here are two of them.
The One-Month Loan Obligation
These are commonly referred to as high acceptance payday loans from direct lenders.
This is a loan that has a tenure that does not exceed one month or the next payday and is to be repaid in one instalment, meaning the entire loan.
It may sound too harsh, but it is not.
These loans usually have a small amount, ranging from a grand to five grand maximum, so returning the loan as a lump sum is not far-fetched for most of us.
The benefits of a payday loan are that;
- it has a relatively high approval rate;
- it can be procured in a matter of minutes;
- and it can also be taken as a cash loan, which would come directly to your doorstep.
A loan that is guaranteed to be approved and can be received in minutes is going to be ideal for emergencies.
Paying for the emergency room bill because you fell and dislocated your shoulder;
Paying for the last minute unexpected business expense;
Paying for your child’s sweet sixteen parties’ bill that went slightly beyond your wallet;
Payday loans can quickly fulfil all of these emergency scenarios without any possibility of glitches.
The Non-Existent Pre-requisites Loan
An emergency can befall upon anyone, and there is a chance that you may not be equipped to deal with it financially.
When the emergency is personal, there is a high likelihood that you will be emotionally strained to deal with it. Adding financial worries to this scenario will only make the problem overwhelmingly impossible to deal with.
That is why; non-guarantor loans for poor credit were devised.
These loans are merely hassle-free; they do not mandate you to present tons of documents and proof to check your eligibility.
Under normal circumstances, the fulfillment of such obligations does not seem so strenuous. Still, when you are already stressed, the task becomes an additional headache that you cannot bear.
The loans are ideal for emergencies since;
- They do not take your credit history as a parameter for acceptance so that a poor credit score can be the recipient of the loan.
- They do not mandate a guarantor to ensure that the loan would be repaid by you, so another obligation is eliminated.
- The maximum limit for this loan is at a substantial £10,000, so the more expensive needs can be easily met.
- All you need to provide is an income proof, and you are eligible to apply.
- Even if this loan gets a delayed approval, you will still get your money the same day you apply for it.
Are these not the kind of features you look for while hunting for financial aid in times of emergencies?
In the end, all I want to say is that getting a loan is not as difficult as it was in previous decades and centuries.
However, it is still a time-consuming process more times than not. When an urgent need has to prioritised, time is something that you do not have.
Therefore, the two loans are the best remedies for emergency financial needs, whether large or small in value.