Pounds till payday otherwise known as payday loans are short term unsecured loans designed for people who need money quickly in emergency situations. You are able to obtain money as quickly as the same day as you apply for the money via online application forms.
Many lenders will allow you to borrow up to about a thousand pounds, this will vary between lenders. Many lenders do however offer a lower maximum amount if this is your first time borrowing money from them.
Your best chance of being accepted for a payday loan is if you are at least 18 years of age and are employed full time. You need to have been with the same employer for a certain amount of time and your employer is paying your wages straight into your bank account.
The reason many lenders prefer people who are employed are that payday loans were originally designed as a way for workers to borrow money to tide them over until the next payday. Hence the term pounds till payday. Payday lenders also prefer people who have an established employment record with a main employer as this means you are a lower risk to them and see you as someone who is less likely to default on their loan.
There are however lenders who are able to provide payday loans to people who do not meet the typical prerequisites. If you are unemployed but receive some sort of regular payment then some lenders will consider you for a loan. If you are disabled or retired and receive some sort of regular pension or other payment then you may also be eligible for a loan.
Pounds till payday are usually only available to borrow over a short period of time, this time frame usually revolves around the typical monthly pay schedule for people which is about 30 days. As these loans are designed to tide you over till your next payday they are not usually available for longer periods than this.
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