San Fransisco, CA -- (ReleaseWire) -- 10/05/2012 -- Short term loans in the UK have a chequered reputation, with the high interest rates charged by many payday lenders causing individuals to be caught in so-called ‘debt traps’, taking out desperation loans that end up exacerbating their original circumstances. Short Term Loans is a company that empathises with this situation and aims to bring the same competitive atmosphere that reined in car insurance companies ten years ago to the payday loan industry, forcing rates and prices down to get better deals for consumers.
Taking out a short term loan from any one of the traditional providers is almost too easy, and because of their fast approval processes, consumers often don’t take the time to think through what they’re signing up for or whether they’re getting the best deal. Short Term Loan makes payday companies compete for their customers’ business, helping customers get better deals.
Using Short Term Loan, a borrower fills out a form with all details required by all the major payday lenders, taking just minutes as it would on any individual payday loan site. From here the process differs, with the tender being sent out to multiple lenders, and the borrower being connected with the lender who offers the best rate. With an additional blog filled with reasonable, plain English advice on everything from choosing a credit card to taking out an appropriate form of loan, their commitment to responsible lending is unquestionable.
A spokesperson for the site was keen to encourage only cautious and responsible use of their service, “If you need £100 to repair your car you might be tempted to borrow a little bit more so that you can buy something else such as a new laptop. Don’t let yourself do this, only borrow money if you actually have a good use for it. You need to be strict when it comes to loans because it’s just too easy to keep borrowing money that you don’t really need, and this obviously means that you’ll be paying more in interest. Short term loans are very useful particularly with traditional lending drying up, however they should be used as a stop gap not part of consumers financial strategy.”
About Short Term Loans
Short Term Loans provides fast access to cash for those in need. Their service can provide up to £1,000 in less than 15 minutes. When people have unexpected bills, their budgets just won’t stretch far enough or they want a special treat, they turn can rely upon Short Term Loans for reliable service. For more information please visit: http://shorttermloans.net/