During the winter months, thousands of UK residents begin to experience trouble when trying to keep on top of their finances. This year, due to us experiencing the backend of a global recession, things are even tight than usual. This is why experts are predicting that even more people will have no choice but to take out a loan to cover Christmas and see them through until the wages hit the end of January. With all this in mind, I thought today I’d take some time to write a short article explaining some of the best solutions available at the current time.
You see; some people won’t be aware these forms of lending are open to them, which could result in them getting rather stressed and not enjoying the holiday season. This is why I feel it’s my duty to bring these alternative methods of fundraising to your attention. I don’t like the idea of people sitting at home during yuletide without a pot to “throw garden peas in”, and I fear that’s exactly what will happen in many households up and down the country.
So, spend the next few minutes reading through the rest of this post and hopefully, you’ll come away with some good ideas.
Although every mention of these firms in the press has been negative over the last year or so due to their completely unreasonable rates on interest, for people without any money and a bad credit score, they can be one of the only viable options. Just make sure you spend some time reading through all the small print and don’t jump headfirst into an agreement, as some firms are more reputable than others, and some allow for slightly late payments without adding on the 3000% APR we’ve seen reported in the newspapers.
If you currently own a car and think it’s worth more than a few hundred pounds, then this solution is probably the most suitable on this list. Basically, they offer you a lump sum loan based on the value of your vehicle. You get to keep hold of the car whilst the loan term is ongoing, and so long as you pay the cash back when you agreed to, everyone’s a winner.
Unfortunately, most banks are refusing to lend to all but their most trusted customers at the moment, probably because they’re a little ashamed of the way they wasted millions of pounds of public money last year. Still, if your credit rating is good, and especially if you’ve already got a loan with your own bank, you might be able to convince them to part with a few thousand pounds. Just be careful to keep a close eye on their interest rates, because many people have seen a rise in the last 12 months.
And that’s about it from me. You should now understand the options available to you a little better, and will hopefully be more inclined to refrain from panicking over the next month or so. Have an amazing Christmas, and I’ll see you in the new year!