Below you can view and compare payday loan providers for the Republic of Ireland. The payday loans market is not yet as advanced in Ireland as in the UK and USA, but there are lenders available if you a loan to tide you over until your next pay day! Most payday loan providers offer loans of between €100 and €1,000 but the amounts may vary so include this in your comparison. Payday loans are fast cash loans and in most cases your credit history will not stand in your way. Therefore, even if you have existing debts or are facing bankruptcy you could still be eligible for the loan. Most payday loans are really easy to apply for and you could receive the money within 24 hours. Before you apply for a loan make sure you have considered every aspect of borrowing carefully.
Compare Payday Loans
Before you apply for a payday loan consider your options and make sure that this is the right type of loan for you.
What are the advantages and disadvantages of payday loans?
There are both advantages and disadvantages to payday loans and both should be considered before making an application for a payday loan. Many members of the public dislike the payday loan business because it is widely believed that payday lenders and brokers take advantage of those who are most in need by charging high levels of interest on relatively small amounts of money.
However, as the payday loan market continues to grow it is becoming clear that more and more people are looking for emergency cash injections. Unfortunately, the global financial crisis has led the banks and more mainstream lending establishments to become increasingly strict regarding whom they lend money to. This means that many people with a poor credit rating need to seek credit elsewhere. There is no doubt that the rates of interest on payday loans are higher than those of standard bank loans. However, there are also very few creditors who can provide loans for people with bad credit in as little as fifteen minutes and in an emergency that is what counts. Just make sure that you are away of the pros and cons of payday loans and that you understand the risks.
Payday loans can provide credit when there are no other options available
Under most circumstances there are probably better options than payday loans. The interest is very high so payday loans really are a very expensive way to borrow. However, if you have no alternative and have exhausted every other possibility then a payday loan may aid you if you need emergency cash quickly. Some companies can lend you the money you need in as little as fifteen minutes so time shouldn't be an issue. Most lenders will perform minimal credit checks but you will find that you will still be able to get the money you need whatever your credit history.
There are some ways to keep your payday loan costs down
Firstly make sure that a payday loan really is what you want and there are no superior options. Payday loans should be used as a last resort and should be treated with caution as they are an expensive way of borrowing money. You should then work out exactly how much you want to borrow and keep it to an absolute minimum. Borrowing more than you need to will only mean that you will pay more interest on the payday loan. In some cases the shorter the length of time that you borrow for the less interest you will have to pay on the loan so this is worth looking into.
Next, compare as many different payday loan companies as you can to help you find a good deal. There are numerous options online so read all of the detail which you can before applying. Work out exactly how much you want to borrow and how much you will have to pay back with the interest and fees. Do this with several companies until you find the cheapest option.
Before doing anything make sure you read the terms and conditions of any pay day loan before you apply as these will outline everything you need to know. Finally make sure that you pay your payday loan back on time. A payday lender may encourage you to let a loan roll over into the next month but it will just cost you more. Pay the payday loan back on time as there will be expensive penalty charges if you don't. The interest rates and other charges for late payments can easily accumulate and you will also damage you credit rating which will be used against you.
Make sure you take into account the following information when choosing a payday loan
Payday loans are expensive so you need to be smart about which one you get. First of all the APR will give you an idea of how expensive your loan is. It is in the interests of payday lenders to lend as much as possible so that you will have to pay more money back. Keep your borrowing to a minimum. Make sure you read the terms and conditions of any payday loan really thoroughly and make sure there are no hidden costs and charges. Pay the loan back on time as there are often expensive penalty charges and you will damage your credit score.
06 August 2013
Which Way To Pay
The head of The Church of England is “embarrassed” to find out they have invested in Wonga, but what is really going on?
22 May 2013
Payday loans widely have a bad reputation, and their lenders are often looked upon as people who benefit from other people's problems
31 July 2012 18:00
If you are struggling to make ends meet a payday loan can help you however there are risks involved with these types of loans. A payday loan is a cash advance where you can borrow money off a lender which is then secured against your next month’s earnings.
11 April 2012 14:30
Payday loans have a lot of bad press but if used correctly they can be an important lifeline for those caught in a tight financial corner. Payday loans should only be used for urgent expenses that need to be covered until your paycheque comes through.
13 September 2011
Which Way to Pay
Since the recession, it has become increasingly more difficult to get the loans you need from traditional channels, such as the bank. This has opened up a new market for independent loans companies who will often approve you for a loan even if you have a less than perfect credit rating. Payday loans are an example of this; specially designed to tide you over until your next payday should you be a bit short one month, these loans are a great way to borrow small amounts of money.