An unexpected bill can cause all of us some grief when we are trying to balance our chequebooks. This is one of the reasons that payday loans are so popular with so many people who need quick instant cash to overcome a short term financial burden.

Anyone can apply for a payday loan with many lenders needing little more than any form of income, which includes benefits, to approve a payday loan.

Payday loans can be used for any purpose you desire whether it is to pay an outstanding bill or to simply go shopping with your friends on the weekend.

Payday Loan Advantages

• Payday Loans are quick and easy to apply for with instant cash available in your bank account within an hour.
• Applying for a payday loan online simplifies the process even more with the payday loan now a faxless payday loan.
• There is no restriction for what you can or canít spend your loan funds on.

Payday Loan Disadvantage

The payday loan is more expensive than other lending products offered by banks and financial institutions.

This is mainly because of the short term of your payday loan. The lender needs to have higher rates to make a profit or it simply isn't feasible for them to lend money.

Sometimes you just have to pay for something if it is more convenient. For example, If you have a big night planned and you have to get home in a hurry to shower and change the cost of a taxi fare won't come into the equation.

You do have options. You can either catch a bus home and it will be far cheaper than catching a taxi but if you don't have the time to wait at the bus stop then the $12 fare isnít something that will stop you hailing that cab.

A Payday Loan With Cash Doctors

The majority of Cash Doctors clients are professional people earning in excess of $40k per annum. The reason for this is that Cash Doctors have certain criteria in place when you apply for a payday loan.

• You have to be taking home more than $400 after rent or mortgage repayments have been accounted for.
• You also have to be employed and have a current working history of at least three months.

While some payday loan lenders have little problem in lending money to people on benefits that will obviously struggle to repay their payday loans, the team at Cash Doctors have a different business approach that is designed to help people overcome financial difficulties with short term loans.

Cash Doctors loan fees are also transparent. You do need to shop around when comparing payday loans. Some payday loan lenders hide their fees, you canít even find them on their web site.

• All payday loans with Cash Doctors incur a $11 fee per $100 borrowed.
• New loan clients are charged a once off set up fee of $24.95 which is paid when you repay your payday loan via a direct debit.