UK loan specialist Payday Express has hit back following press reports accusing firms offering short-term credit of being “legal loan sharks”.

The payday lending industry is notorious for receiving derogatory comments in the newspapers because of their high APR. Reporters like to point out the percentages, which are usually in the thousands, as if they are actual interest percentages, which according to Payday Express is completely misleading.

Ashleigh Preston, Marketing Manager at Bromley-based short-term loan company Payday Express, professes that it makes no sense to talk about APRs when discussing short-term loans, since APR is an annualised measure.

She said: “Quoting the APR for a short-term loan is pointless as it offers no clear comparison between a loan due to be paid off in full after a month, and a loan that is paid off with a series of payments over the course of a year.”

“While you’re likely to find that the APR for online payday loans is significantly higher than for longer term credit agreements, the actual amount of money you repay can be much less since the loan is repaid in a matter of weeks rather than over the course of a year or more.”

Preston said Payday Express is a responsible lender offering a valuable service to people who need payday loans in the UK. A cash advance will often work out cheaper than paying unarranged overdraft fees and is often a vital lifeline for people who find themselves in need of temporary credit.

About Payday Express:
Payday Express is one of the UK’s leading payday advance loans specialists and has been helping people across the country get access to short-term credit since 1999. The company is committed to responsible lending and provides customers with a discreet and reliable service that will cover their short-term credit needs.

For further information contact:
Email: info@paydayexpress.co.uk
Website: http://www.paydayexpress.co.uk/

No Fax Payday Loans

If you want an easy and convenient way out from your financial emergency, no fax payday loan can provide you a safe solution. If you are suffering from a financial crisis like pending bills, bounced checks, late fee charges, bad credit records – payday loans can become your survivor. This loan gives you instant cash till your next paycheck arrives.

It Is Simple To Qualify For Payday Loan
Must be a U.S. citizen
Must be at least 18 years of age
Must have a regular monthly income of $800 or more
Must have a checking account
Loan Application Process Is Hassle-free

The first step in getting the loan approval is to fill up the application form. The information you need to provide is quite simple. It includes your personal details such as name, age, banking information such as name of the bank, your online checking account number, employment details like name and address of the company you are currently working with. You do not need to fax or print anything. There are no credit checks done. Actually even people with bad credit can apply for payday loan since it is a short term liability for any company. Therefore, the application process is very quick and straightforward.

Loan Agreements – Spend Some Time Before Signing
Please be very careful while reading these documents. Never be in a hurry to sign on the dotted line. Make sure, you have a detailed look at the fine print and do not overlook a single word. Remember, if you ignore this piece of advice, at the time of paying, you may end up calling your financing company repeatedly about their fees if you do not pay enough attention while signing the loan agreement documents.

A Word Of Caution
Only take a cash advance in case of dire emergencies. Make sure to pay back the loan on time to avoid penalties. By not paying the loan on time, you tarnish your credit image in lender’s books. The late payment charges are so high that if you skip the payment and carry it over for 2-3 months your financial situation becomes severe, you may be trapped in the vicious loan debt. So be careful before applying for the quick cash advance.

The no fax payday loan has become so popular because it is really very simple to get the extra cash and that too really fast. Just to give you an idea, you would love to take your wife on a weekend off but you might be a tad bit short on cash. Apply for a payday loan on Thursday and get the cash transferred in your account on Friday, and zip off for a fun filled weekend.

A No Fax Payday Loan is a quick and simple way to deal with your immediate monetary need or expense. You can get up to $1500 cash advance through a payday loan lender. Visit us at Cheap Payday Loan to know more about these loans.
Article Source: http://ezinearticles.com Albertina Belmont