Loans are one possible solution to help manage the peaks and troughs in income and expenditure or to help finance projects where you don’t want to dip into your savings.

Loans are not an easy solution and proper consideration should always be given to the decision to borrow, how long for, how much, and who from.

Loans are not the only solution in such circumstances and you should always assess whether they are the right solution for you in any particular instance. This is particularly relevant when considering loans for payday, where you should decide if you can wait until your next pay day to access funds.

What are payday loans for?

Payday loans are short term loans from Uncle Buck designed to be repaid on the next payday and they are ideal if faced with an immediate financial need where it would make sense to use a form of credit to make up a shortfall of funds. We can’t give you examples of when to use loans and when not, as that’s up to you, but we can say that the decision to commit to a payday loan will vary for each individual consumer and may include factors additional to just the pure cost of the loan.

So what we’re saying here is that it is important to consider the wider picture for your situation as part of the decision making process if you are thinking of a loan, especially for payday loans. For example, if you’re faced with a larger than expected garage bill for your car, and you need your car to travel to work or to transport your children to activities, using public transport might not be a viable option – the buses might not run where or when you want and the journey time might increase significantly. Many people can manage in these situations but others can find this stressful. Each individual needs to consider their own circumstances.

You don’t need us to tell you that you should not even think of taking out a loan if you cannot repay, or do not intend to repay. A loan is a commitment that might extend over several weeks or months and even a payday loan, which only has a short term commitment, is required to be repaid on the agreed date. Of course we understand at Uncle Buck that circumstances can change quickly and you may find that you simply cannot repay on the due date, in these cases we need you to contact us so that we can help you through the available choices. If you don’t contact us about your payday loan with Uncle Buck, we have no way of knowing what is standing in the way of successful repayment.

Successful loans start with careful consideration and making sure you read the information about your proposed loan so that there are no surprises during its duration. Repaying on time helps too, as it minimizes any charges and the overall cost of the loan.