When should I take a wage day advance loan?

For those times when your income refuses to stretch far enough to cover your needs, wage day advance loans can help close the gap and help you should you fall on challenging times. These loans often follow more lax credit requirements than traditional loans, smaller borrowable amounts and shorter repayment terms. This option is available to virtually anyone who meets age, employment and residence requirements.

Instant access to extra funds does come at a bit of a price. Wage day advances tend to carry higher interest rates than some other loans. Most insist the advantages more than make up for the extra cost. Just be sure to exercise good judgement. Be careful to make your payments on time and only use this option on an as-needed basis. Doing this will put you in a good position to reap the benefits without setting yourself up for financial hardship.

If this sounds like the solution you’re looking for, contact MoneyBoat. Fill out our online application and let our lending team get your loan processed today!

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Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative APR 1,267.9%. 

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Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.