Ending Your Money Troubles: Help Is At Hand!
Loans (Photo credit: zingbot)
At this time of year, many families across the UK are likely to begin experiencing issues when trying to keep up with their living costs and bills. This can be down to the amount of cash they have to spend at Christmas on presents and food, but in most instances it’s probably linked to the poor state of our economy at the moment. Job security is becoming an outdated term, meaning many people simply don’t know how long their employment will continue for, and this can turn any major financial decisions into a real headache.
Still, if this applies to you, it’s vital that you remain optimistic and refuse to let matters beyond your control ruin an otherwise joyous occasion. Also, you’re really not alone; thousands of others are in the same boat, and you’ll be glad to know that help is at hand if you know where to look. With that in mind, I thought perhaps it might be a good time for me to write an article highlighting some of the lending options available to people in your position. That way, I’d be doing my bit in ensuring your heads remain above water – at least for a few more months anyway.
I’ve trawled the internet in search of the best solutions, and here they are:
- Home Equity Loans – Anyone who’s paid a mortgage for some time will have accumulated equity within their property that can be drawn out in times of need like this. A simple internet search should throw up many different providers who are willing to lend funds based on the level you’ve achieved, and this can be a brilliant way of sourcing capital without feeling the pinch.
- Personal Loans – People with a fair to good credit rating should have no trouble obtaining a personal loan from their bank or a private provider. In most instances collateral will not be required, so as long as you’re confident you can meet the repayment schedule, this option is generally favourable.
- Logbook Loans – This is a completely new type of loan that many people haven’t yet been made aware of. Basically, those who drive can raise funds based on the value of their car. The best thing about this is that you get to keep hold of the vehicle whilst making repayments, which means you won’t have any trouble getting to work or taking the kids to school. I know what you’re thinking “where can I get a logbook loan?”, well, luckily reputable firm Mobile Money has opened branches in nearly all major cities around the country, so all you need to do is check their website.
- Credit Cards – If you’ve never had a credit card before, you might be a little worried about the whole issue, and so I’ll attempt to put your mind at rest. Most providers offer 12 months free balance transfers, which means that if you apply for two different cards, you can run up a large bill on one, and then transfer the balance to the other to avoid paying any interest of the cash you’ve borrowed. This process can be repeated continually, meaning you’ll only ever pay back the amount you’ve lent.
If none of those options seem viable to you, then maybe you should consider the payday firms, but just be careful to read all the small print, as some charge phenomenal rates of yearly interest of any debt you fail to clear, meaning that a £100 loan could see you having to pay back over £3000.
Keep your wits and everything should be okay!
Share this:
Category: Loans
