The credit crunch has seen many homes battening down the hatches by cutting their spending and paying off their old debts, but Christmas brings with it numerous financial demands. From presents and food to parties and nights out, it can be a demanding time of the year for the wallet. In turn, demand for credit is sure to spike over the festive period.
Recent reports show that credit card lending is falling, however gross lending in the other segments of consumer credit has grown in 2012 as consumers, although keen to reduce debts, struggle to support their living standards with stagnant wages, rising unemployment and rising cost of living the main culprits.
For some consumers, they have to rely on credit facilities to pay for everyday living. As a result, other personal lending saw further growth in 2012, up by over 4%. Much of this growth can be attributed to the rise in popularity of payday loans.
As mainstream banks seem hesitant to lend, average consumers are struggling to find alternative avenues for short term credit. NoCreditCheckPaydatLoans.co.uk launched a new service in 2012, giving consumers an additional option. The website allows consumers with low to mid credit scores with finding borrowing options online and comparing them simultaneously on the site.
The service aggregates direct lenders all of whom are UK based. Their products and offers are routinely scanned for suitable loans all through the submission of a short and secure online application form. The whole procedure is extremely fast and can be undertaken from any computer, 24 hours a day. With many individual lenders closed after business hours and over weekends , their service will see a customer’s loan disbursed in an hour regardless of the day of week.
While there are over 200 direct payday lenders in theUK, many resort to external credit checks. Consumers with a poor credit history would often get rejected on the basis of a low credit score. Now, those that have been rejected previously, can easily be accepted by Nocreditcheckpaydayloans.co.uk.
As NoCreditCheckPaydayLoans.co.uk is a no credit check service, any loan application will bypass the often intrusive and sometimes harmful credit reference agency search. In the current economic climate, consumers are becoming increasingly aware of the threat of scored searches can on long term credit ratings. In addition to placing many loans out of people's reach. By omitting this from the system, users stand a better chance of being approved by lenders.
Instead of focusing on payday loans as a whole, the company works with about 30 UK lenders who specialize in bad credit payday loans. They help people who have been rejected in the past. Getting the best payday loans no credit check has never been easier.
It is important to note that the company does not finance directly and they are not credit brokers. They provide an aggregation service for customers so that they can save time. They do advise users to borrow responsibly as short-term loans are not a long-term solution. Some of the other advantages include:
• A completely, transparent service that doesn’t favour any particular lender.
• One of the shortest application forms in the industry, with no faxes required. The application form is SSL encrypted to ensure that all customer data is kept secure.
• A collation of UK only lenders to ensure that customers get the best customer service.
• Most lenders will offer 1 hour loan disbursement throughout the day, even over weekends.
The company prides itself on transparency and having thousands of satisfied customers in the past. They are happy to have people leaving with smiles on their faces after being able to meet their financial needs.
Most consumers are likely to keep their use of consumer credit to a minimum through to 2016, according to financial analysts. They do not want to take on new debt and will instead try to pay off their outstanding debts as quickly as possible. However, this could be challenging as consumers are facing rising unemployment and inflation, while wages remain stagnant. For those who are struggling financially and worry that Christmas may push them over the edge –particularly when record-high winter energy bills arise early next year - they know where they can turn to!
About NoCreditCheckPaydatLoans.co.uk:
Looking for a short term loan, but don’t want the hassles of a credit check? At http://www.nocreditcheckpaydayloans.co.uk, we put you in touch with over 30 UK direct lenders, all waiting to give you the best deal on a short term loan.
