Feeling the pinch a little at the moment? Don’t worry, you’re certainly not alone. Millions of UK residents are having trouble with their financial situation of late, and although the government keeps promising us things will get better soon, the immediate future looks rather bleak. This is why you could probably benefit from some sound advice about how to raise some funds for the kids Christmas presents, right? Well, at least you’ve come to the right place, and that’s a good way to start.
In the past, the only options open were either visiting the bank and asking for an increase on your overdraft or asking a friend to help out, but luckily this has changed over the last few years and now it’s possible to raise capital from any number of different means (some more favourable than others admittedly). So, take a few minutes to scan your eyes through the rest of this short post, and I’ll do my best to bring your attention to some of the most suitable solutions available to you at the current time.
Traditional Bank Loans
Sadly, these are becoming more and more difficult to obtain, especially for people who really need them. Sure, if you’ve got a grand in the bank, you’ll get letters every week asking whether you’d like to borrow £500, but in most cases banks aren’t currently lending to people unless it’s obvious they can pay the money back instantly. Don’t get me wrong, this should still be your first port of call, I’m just saying you shouldn’t get your hopes up too much.
Now, we’ve all seen the bad publicity payday loan providers were getting during the last year, and with some charging over 3000% interest on missed payments it’s easy to see why. Still, if you’ve got a poor credit history and nobody else is willing to lend you the cash you need, they’re probably one of the most reliable means of keeping your head above water. Just make sure you always read the small print and never ever miss a payment deadline – otherwise things can spiral out of control pretty quickly.
These are a rather new edition to the money lending market, and in my own opinion they’re a much better option than their payday counterparts. Basically, you let a provider assess the value of your automobile and they then make an offer based on that amount. In most cases, repayments can be made over a longer term, and you still get to hold onto your vehicle unless you default, so it works out pretty good for all parties. You can read some frequently ask questions about logbook loans on the websites of most of the main providers, so make sure you do that if you still have some niggling doubts.
Unfortunately, unless you want to visit a pawn shop and sell off all your jewellery, that’s about all the options you have at the moment. Even so, there’s no reason why you shouldn’t be accepted for at least one of those solutions, and if it means your kids get to have a good Christmas, what choice do you have?