Payday Express Loans are offered to allow breathing space in your budget when a short-term gap in your cash flow occurs. They can be a sensible alternative to an unarranged overdraft, and allow you to prevent any damage to your credit rating by allowing you to make a bill payment on time, rather than late; this can prevent issues obtaining credit further down the road.

Payday Express loans can prove a responsible choice, but due to the higher APR, it is imperative that the loan be repaid quickly. When used as intended, a Payday Express loan results in a charge for the credit obtained that is manageable and competitive; you are paying for the convenience of quick access to funds with a short repayment time. Any issues repaying the loan as agreed and on time can lead to costly charges and potentially serious debt issues arising. For this reason, it is highly advised that before seeking or obtaining a loan of this nature, you are sure of the need to apply for it. First consider if there are any other, less costly alternatives, can I re-budget instead, can I afford to repay the credit in full and on-time etc. Once you have answered these questions for yourself, and you still feel the loan is the best option for you, Payday Express Loan providers can process an application and advise you in relation to eligibility.

Your eligibility will be calculated based on your employment status, income and previous debt issues. For this purpose, a full credit check is performed to ensure you fit the profile of someone that a short-term payday loan is appropriate for. All lenders, regardless of being high-street banks or online payday lenders, must be regulated. To comply with the terms of the regulator, a certain code of conduct is required, to include responsible lending. It is for this reason that credit checks are performed, and why, if you do not meet the strict criteria, your application will not be successful. If you are concerned about the state of your credit statement, it can be obtained and checked for a fee, and if your rating is questionable, you may wish to ask yourself if further debt is the answer.

To enable Payday Express lenders to process the loan application quickly, sophisticated technology database of server hardware and loan-oriented criteria algorithms are used. The quick response available to Payday Express loan customers enables peace of mind, and convenience if approved.If the application, however, is not approved, the short time involved at least offers the potential to seek other options quickly. To aid in the decision making process, the application is initially checked by an automated algorithm to ensure that all required information has been supplied. The details are then evaluated to ascertain their plausibility, such as whether the income available is enough to responsibly offer credit or whether personal details are authentic. Once this is complete, a background credit check is completed. Payday Express lenders use a network of approved and experienced agencies for this purpose, enabling reliable information about the applicant to be processed in the fastest possible time. To assess whether you will be able to afford both the loan repayment and living expenses, data on the application, backed up by the background credit check, is evaluated with an online model, using approximate values for rent, bills and food, based on government guidelines.

Once this final part of the automated process is complete, an expert in loan evaluation then reviews the application, along with all data supplied by the credit checking agencies. This ensures that there is a human touch offered to every application, which can empathise with you, and ensure that the underwriters do their best to issue the loan responsibly, based on your needs.

That said, however, this type of loan is not for everyone, and may not be the best option available to you. If several of your loan applications have been rejected by different loan companies, you should speak with a financial advisor to assess your situation. It might be that lenders have decided your situation means that taking a short-term loan is likely to increase your financial difficulty. If you find this is the case, you should seek help from someone qualified and trustworthy, who can review your situation.

It should be noted that, while the potential exists for fast approval and ease of access to a Payday Express loan, and also through places such as CashfloatLoans Direct, once you meet the criteria, the process is not a miracle solution. Underlying financial problems may only be compounded by a short turn-around, high APR credit; failure to repay these loans on time can result in huge charges being accrued. Essentially, these Payday Express loans come at a price, and if you do not have the means to repay them quickly, then it is best to seek other options for addressing your cash flow problems.

While these loans are better than an unauthorised overdraft on your credit card, a better alternative is to budget as best you can. While we all encounter cash flow problems from time to time, it is best, if at all possible, to save some money out of every pay check for a rainy day. Having these funds to fall back on can alleviate a significant amount of stress when unexpected expenses crop up, and can also save you the cost of credit. Payday Express lenders approve all loans manually and aim to deliver funds the same day, and are there to help when possible, regardless.