Payday loans are in the news more and more these days and often for negative reasons such as high charges. The industry has traditionally been dominated by shady backstreet dealers and loan sharks, but at Cash Relief things are a little different. Here we outline the pros and cons to help you decide if a Cash Relief loan is right for you.

At Cash Relief we prefer to call them short-term loans instead, however, since ‘payday loans’ is such a popular term we’ll use it here for simplicity.

The pros of payday loans online

• Flexibility:  Cash Relief payday loans are the most flexible loans out there. You can borrow money for as short a time as one day to the maximum of six weeks. No bank will lend you money for five days and what’s more, it costs less to take out a payday loan online with Cash Relief than it would for your bank account to go into overdraft or for a payment to dishonour.

• Speed:  At Cash Relief, we understand that unexpected bills demand a quick response. It’s our goal to give you a fast cash loan when you need it and not have you waiting for days. The Cash Relief payday loan application is quick and straight-forward and in most cases the decision is given within minutes. Once approved, the cash can be deposited into your account within an hour. Not only do we get you cash fast, but you can apply online anytime at your convenience.

• Online:  Cash Relief payday loans online are just that – online, 100% and therefore completely paperless. We do not ask you to come by our offices to collect your money. We want you to be able to access Cash Relief where it’s convenient for you, whether that’s at home, at work, the coffee shop or the library. Without a whole lot of paperwork to deal with, our offices are truly environmentally friendly.They are also known as payday advance nz.

The cons of payday loans online

• Roll-overs:  Many people like to find fault with loan extensions or roll-overs because they incur more fees and interest. Cash Relief encourages all customers to plan ahead when repaying their online payday loan. Most Cash Relief loans are repaid within a month, however, an extension to six weeks is given when necessary, for example in the case of a lost or stolen wallet or a delayed payday.

• High Interest Rate:  This is the big one. The exorbitant annual percentage interest rate on payday loans. However it simply doesn’t make sense to look at the annual cost of a one-month loan. Cash Relief compares their payday loan to a taxi ride, it’s convenient and ideal for a short trip but not for a long one. It simply wouldn’t stack up.

• Eternal debt:  It’s often said that payday loans keep people in debt. The truth is however, that payday loans don’t keep people in debt, rather, people keep themselves in debt. Cash Relief is built on a foundation of responsible lending, and we do everything we can to encourage responsible borrowing.  If you’ve considered your options and decided that a payday loan is what you need for your financial emergency, send an application to Cash Relief and you could have up to $600 in your bank account in under an hour.  To find out how much your payday loan repayments will be, go to our payday loan repayments calculator .We consider people from all walks of life and often give out payday loans for bad credit. If you have any questions about payday loans from Cash Relief, take a look at our payday loan FAQs, or give us a call on 0800 081 080.  Explore more by clicking on this link 4 Common Myths About Payday Loans.