“We offer a better way to deal with Christmas debt,” said Mark Scott, spokesman for Swiftmoney.com. “People are using payday loans to pay off their Christmas debt, which through us, is cheaper than overdraft fees.”
The company’s payday loans vs credit cards article describes the difference in repayment for the aforementioned items.
According to data collected from the uSwitch study, 19 percent of consumers in the UK are starting 2013 with an average credit card debt of £5,000 or more, with 17 percent admitting they are yet to fully pay for Christmas 2011.
The study conclude that that a debt hangover is likely to last well into 2012 after six in ten Brits (59 percent) paid for goods on credit cards this Christmas.
Scott explained that depending on individual needs, it is worth looking at whether payday loans or credit cards can be a solution that can provide consumers with extra funds and financial flexibility.
“Payday loans tend to be better for one off loans that can be cleared at the end of the month, while credit cards represent more of a long term commitment that can generate some problems if you cannot keep on top of them,” Scott said, before adding, “Our fast, efficient and totally transparent application process means that you could be approved for a payday loan of up to £1000 in as little as 15 minutes. It's quick, simple and completely hassle-free with no credit check carried out.”
Scott went on to point out that when used effectively, UK payday loans can act as a more affordable financial solution than incurring overdraft charges and can be much more manageable than credit card and late payment fees.
With pay rises likely to stall and living costs continuing to rise, the study said, 53 percent of consumers are expecting to take a year or more to pay off their credit card debt built up during Christmas. An additional 15 percent said it could take them as long as three years to settle their balance and seven percent said they will not be able to clear it at all.
“We'll provide you with a clear and straightforward process to pay us back when you get paid,” Scott stressed. “Since no credit checks are involved with the process, you can be safe in the knowledge that applying for one of our payday loans will not hinder your credit score.”
About SwiftMoney.com:
Started in early 2010, Swift Money has provided over 100,000 UK customers with a short term loan, 96% of which are now regular returning customers. The company specializes in providing short term loans to aid customers’ immediate financial needs. For more information, please visit http://www.swiftmoney.com/
Swift Money Ltd.
Mark Scott
0800-334-5-334
support@swiftmoney.com
Source: EmailWire.Com
