For senior citizens who were once told their pension would be all they needed to live off in the future, times can be tough. Many find themselves looking over mounds of bills due five to ten days before their government-issued cheques come in the mail. The phones are ringing, the grandchildren have birthdays coming up this weekend and an unexpected medical bill came up. Sometimes they budget well, but other times they're falling just ?100 - ?300 short of where they need to be for the week.
Cash loans are available to anyone with a regular pay cheque.
"These people get paid, rain or shine," explains William Harrod, former manager of CheckN'Go pay day loans. "Government beneficiaries will always have money, every 30 days." This makes them the ideal consumer, he says. Many seniors know the pitfalls of irresponsible borrowing and make timely payments before their due dates, more often than not.
Many people think pay day loans are just for young working families who have a hard time paying their bills, but more than 50% of seniors are struggling with medical bills, unexpected hospital expenses, prescription medication and regular bills. It can be frightening when the money runs out but pain pills are needed. While most seniors are forced to do without, there is another solution for short term relief: cash loans. These unsecured loans can be obtained, even without regular work pay cheques coming in all the time and are generally approved within 24 hours, making it an extremely convenient solution if medication is needed right away.
Cash loans aren't recommended for people who are constantly trapped in a cycle of debt or who continuously fall behind in their monthly budgeting. This shortage of money may be indicative of bigger financial planning problems. However, for someone who is usually on-time with everything, but runs into a sudden emergency expense, Pay Day loans can save the day.
