Pacific Odyssey Loans

Installment loans are a popular method for borrowing a small sum of money. Installment loans are a relatively new alternative in terms of small time borrowing options and it is only since the year 2014 that they have been introduced to consumers in a wider sense. Traditionally short term loans have been borrowed in the style of a payday loan, which effectively meant a single term repayment agreement. Over the years in which short term borrowing has become main stream, the options for repayment have evolved with many lenders transitioning from a payday product to installment loans. The needs of consumers have certainly changed over the years and increasingly monthly repayment style agreements have increasingly become the preferred choice. The internet and its vast quantity of resources has played a large role in this move, thanks to its 24/7 access capabilities to a whole host of different goods and services.  

Ever since the internet became a mainstream consumer resource, the manner in which we behave financially has altered. Whereas traditionally consumers would save before saving, the need to do this was left behind when access to goods and services and therefore credit, became more readily available. The internet meant that not only consumers had better access to companies but in addition companies had a much larger access point to consumers. The end result was that credit became increasingly mainstream and nowadays credit can be used for a whole host of different requirements. This could be anything from the purchase of the sofa, a holiday, clothing, electronics and everything in between. This meant that over time consumers adapted their spending habits and became used to using credit based facilities should they be needed.

When applying for payday loans we can expect to be considered for a small loan via an FCA approved lender. Payday loans are available via an online based application and as such lenders of these loans follow specific steps and stages when they attempt to approve an application. The Financial Conduct Authority (FCA) have been responsible for the payday loans market for a number of years now and as such, all of the market’s operations are FCA approved. At the time of their election, the FCA undertook a full and extensive review of the market as a whole and then brought into place new rules and regulations to ensure customers were being treated fairly by lenders. Ever since this has been the case all lenders who operate have had to seek specific FCA approval in order to trade which means in today’s market, any selected lender has been authorised specifically by the FCA at some point in the not so distant past. This can be evidenced from the FCA Authorisation Code shown on all websites applicable.

I think it would be fair to say that for many years’ consumers had come to believe that payday loans were a resource which could be taken without the need for many ‘checks’ of any nature. Whilst in the past the checks which were carried out were more limited to that of today’s checks, there were always certain processes which needs to be completed before a loan could be approved. The checks carried out by payday loan lenders in the past are certainly not as in-depth as nowadays and again, this is thanks to the FCA. The FCA has helped to guide payday loan lenders towards more sensible and realistic approval processes. These processes are designed to not only treat customers fairly and therefore give them flexible product proposals but also, ensure lenders are lending in a sensible manner.

There can always be times when a person needs money and this can certainly be down to a number of different reasons. There can be some people who may need a large amount of money as they are looking to make some form of expensive purchase. This could possibly be a new car perhaps or maybe someone is even looking to put money towards as new house etc. In contrast there can then be others who only require a small amount of cash. They could just need some help paying a bill perhaps or maybe they just need some additional funds to make their wages last until they are next paid from their employer. Now no matter what anyone ever needs any amount of money for, if they have this saved away they can then use this as required to pay for what they need. Some people may then even have enough put away to pay for their requirement outright or at least they can put some money towards what they need and want. If that is not possible then the chances are they will need to borrow the money. Instalment loans could then be chosen to name just one borrowing example.

Instalment loans are the most common type of borrowing that is available for people to look into, apply for and then when possible borrow. People here can have the ability to apply for a very wide range of different loan amounts. Some of these loans can be borrowed for small amounts from around £100.00 or with some instalment loans people can borrow many thousand. A mortgage for example is actually a type of instalment loan borrow albeit on a much top end borrowing way. Also with the loan in question people can then repay the debt back over a number of days, months or with some of the loans again like Mortgages people repay the debt over many years. Borrowing this loan really does give people the chance to be flexible with what they can borrow as they can choose from a massive selection of different loan amounts and they can then repay the debt over a repayment term that suits them.

In can never even begin to stress enough at just how important it is for people to repay back debts once they have been obtained. If people miss repayments on short term loans and other debts then it will most likely lead to severe negative consequences for the people involved and most people will of course want to avoid this from happening. It does not matter whether someone is looking to apply for short term loans through different lenders or instalment loans where potentially higher amounts can sometimes be borrowed. Credit cards are also very common ways to borrow and these as well must be maintained when they are taken out. Below in this article are three common occurrences when repayments are missed on debts.

If repayments are missed on short term loans for one example, the lenders will have every right to chase that person for the money they are owed. They will be allowed to chase that person to see why the repayment was missed. They can do this by making contact on all the numbers they have available for that person and this can include calls to home, mobile numbers as well as work numbers supplied. Texts and emails can also be sent to the debtor as well when required. Being chased for money owed is never nice for someone and can always be a stressful time for that person. Some of these contact methods can also at times lead to third parties knowing about the debt and again this can cause even further embarrassment.

When repayments are missed on short term loans as well as other debts the chances are a person’s credit file will be negatively affected. This can often lead to it being harder for that person to obtain finance in the future or it can often be more expensive for people. When people miss the repayments are the accounts remain overdue it will be common that a default will be listed for that person and when Creditors see this they can often look to decline other financial applications that person may make in the future. This can be really important if someone is looking one day to make a significant purchase such as a new car or even a mortgage because if they have bad credit and a low credit score they will most likely be declined on the finance.

There can always be times when a person need money and this can be down to a whole host of different reasons. There can be some people who may need a large amount of money as they are looking to make some form of expensive purchase. This could possibly be for a new car perhaps or maybe someone needs to pay for home improvements etc. There can then be others who may only be after a small amount of money to possibly just pay an unexpected bill perhaps or maybe they just need some additional funds to make their wages last until they are next paid form their employer. Now no matter what anyone ever needs any amount of money for, if they have this saved away they can then use this as required to pay for what they need and want. Some people may then even have enough put away through savings to pay for their requirement outright or at least they can put money towards it. If it is not possible to do this then the chances are money will have to be borrowed. Payday loans for example is just one type of common financial borrowing.

There can certainly be times when someone needs to borrow money and they are unable to do this through the initial common process of asking friends and family. When that is then the case people can often then look to borrow funds through the financial market place. This is a strong and deep variation of different borrowing types that can enable people a variety of different borrowing amounts for repayments then due back over a set number of different repayment terms. Payday loans for example could be able to help and these are a type of short term loan borrowing. I have found that is seems more and more people to these loans when they need to borrow finance. People here often borrow amounts ranging between £100.00 and £500.00 for the same people to then repay the debt back over a number of different repayment terms. Any short term loan to be defined as that way of borrowing must be repaid back to the lender within a twelve month maximum time frame.

If you are looking for a small loan, typically known as a payday loan, there are two different types of suppliers of this product available. These are known as the direct lenders and the loan brokers. Both of these type of lenders have existed within this market place for some time now, in fact, since the early 90’s. As a result, most consumers are aware of these different lenders and as such understand the difference between the service which each of them provide. For those of us who are not aware of differences, today we will discuss them in greater detail.

The small loans market is also known as the payday loans market; as a direct result of the first product the payday loan. Over the years this market has adopted many different names, depending upon the type of resource which has been made available. This means consumers may in fact know the market by a number of different names but the resource is actually the same. This is a loan product which is defined as a ‘short term, high cost’ borrowing resource. Typically, lenders will consider applications for no more than £300.00 in the case of first time applicants, with loans starting at as little as £50.00. In instances of returning or repeat customers, the loan value could be as much as £1000.00. The exact loan options available will vary from lender to lender. Repayment types for these small loans are designed to be varied and flexible also. Many lenders offer a choice of different terms from which the applicant can choose from. Depending on the specifics of the lender, terms usually start from a single repayment then extend up to a period of 6 months. Most lenders will offer several choices, whether that be 1, 2 and 3 month terms or 3, 5 or 6 months for example.

Payday loan lenders have actually been around now for over a decade and therefore have certainly become an established borrowing resource. Before payday loan lenders the reality was that borrowing on a small scale was often a difficult resource to locate, unless you were prepared to exchange your possessions via one of the higher lenders who would do so by way of a cash loan. Apart from this the options were really only restricted to that of over-drafts and credit cards; depending on their credit limit. The reality is that when the payday loan lenders came along, they provided a completely new manner in which money could be borrowed. This was because these lenders existed solely via online means and as such meant that consumers were granted the ability to apply for a loan; without the need to leave their current location. Online based applications meant consumers had the ability to apply and potentially be approved for a loan 24 hours a day, via any internet supporting device. This was a huge shift for the borrowing market and as such consumers welcomed the payday loan lenders and the products they offered.

For many years a payday loan meant exactly that. A customer could apply, online as discussed above and if approved receive a small loan the same day. To repay the amount, plus the interest charged by the lender, the customer would agree that the total amount would be paid as a single repayment on their next employment pay date. So as such there was not a set period of repayment for these loans and instead the period of repayment would be reflective of when the customer next got paid. As such this meant payday loan lenders could offer loans for as little as 5 days for example and as many as 30 days.

So there was no doubt that the resource being offered was straight forward and easy to understand. The problem however, was that the simplicity of the repayment terms offered did not realistically account for the changing needs of consumers. As smaller credit based resources became an ever increasing presence over the years, consumers became increasingly in favour of smaller and longer term repayments as far as their credit commitments were concerned. Thanks to store credit, store cards, home lending and other similar resources, consumers were given the access to make smaller repayments which in term were generally speaking more affordable. Payday loan lenders had always offered a restricted type of borrowing however and as such meant consumers were not given the flexible borrowing choices that in most cases were needed. So, in recent years, the manner in which these loans are offered has changed. Nowadays payday loan lenders take into account the need for flexibility and therefore offer the same product but with more sensible and affordable instalment based repayments. This allows customers a much better ability to borrow these small sums of money in realistic way and as such select repayment options which truly suit their own individual needs.  

I can never seem to enough stress the importance of affordability on any finance. People when they apply for finance must be able to afford what they have taken out so the debt can then be repaid successfully. If it is not affordable then it will be likely that the finance is not repaid and this is not something most people will ever want to face. Missing repayments on payday loans and other borrowing will nearly always result in severe negative consequences for that person involved. This being said it is not important what someone borrowers it has to be repaid and in order for that to be done and actioned it must be affordable. Below is a common way people tend to use to see if finance is affordable but also how some ways of borrowing are more realistic and affordable for people than others.

I have personally found that a good way to see if finance is affordable is for someone to locate on average what their disposable income is. This is the amount someone has left over to themselves after all their bills are paid. This amount in theory can certainly look to change from month to month however, having said that it still should give a good indication as to whether or not the loan finance is affordable. People locate the disposable also known as the spare income by looking to the month ahead, they must in details add up all their income expected for that period. This can include their work wages, any benefits they are due for that period or credit and then just any other income that is expected. Then from that total amount the same person over the same time frame deducts all their expenditure. This then can include rent/mortgage payments, debts they may have as well as other living expensive such as food and transport costs. The amount left after this calculation is the disposable income. Now if that amount is high then it is likely the finance is affordable however if low or if it is not enough to cover the required repayments then that person must not even consider applying for it.

There can always be times when someone needs money and this can certainly be down to a whole host of different reasons. There can for example be some people who may be on the lookout for a high amount of money as they are looking to make some form of expensive purchase. This could possibly be for a new car perhaps or maybe someone is even looking to put money towards a house etc. There can then in contrast be others who are only in need of a small amount of cash. This could be to pay an unexpected bill perhaps or they could just need some extra financial help until they are next paid from work. Now always regardless of what anyone ever needs the money for, if they have this saved away they can use it as required for whatever they need. Some people may even then have enough money put aside to pay for their requirement outright or at least they can put some towards what they need. If that is not the case then the chances are people will have to look at then borrowing the money.

It is certainly fair to say that when it ever does come down to borrowing money there can often be a number of different options available for selection. That is why no one should then ever look to rush into applying for short term loans and other finance without first then exploring the different ways of borrowing. There can also be a high number of different people who are looking to borrow money yet they have bad credit. This will often result in it being harder for that person to get finance in the future. Or when they are accepted it will often work out to be expensive. Payday loans for example are a common way for bad credit borrowers to get loans. The lenders who offer finance will have a credit scoring process and people with bad credit may find themselves frequently being declined on their applications. Some lenders however, having said that aim to help out these people with loans when they are needed.

When it comes to borrowing a small sum of money online, via the means of what are known as short term loans; there are two types of lenders who exist. These can be defined as the direct lenders and then loan brokers. Each of these lenders act within the short term loans online market place, both providing a service to customers looking to obtain a small loan. Over the years consumers in a general sense have become increasingly aware of the differences which exist between these two types of lenders which has meant more informed borrowing decisions have been able to be made. Today we will be clarifying these differences in order to gain a true level of understanding of exactly where the differences in service lie and why then, each are able to serve the needs of short term loans customers.

It is only in more recent times that the differences between how direct lenders of short term loans and the loan brokers has really become clear. Changes in regulation within the market place as a whole has meant lenders of either nature are bound to act in a particular manner and this is one which delivers clarity and transparency to customers. The Financial Conduct Authority is the regulating body who is responsible for the operations of both direct lenders and the loan brokers and this has been the case for a number of years now. Since their introduction the Financial Conduct Authority has focused its efforts on improving the manner in which lenders interact with their customers as well as the manner in which money is being lent by lenders. Not only did the FCA (Financial Conduct Authority) help steer lenders towards a more flexible borrowing resource but at the same time provided specific rules to govern how they displayed information concerning their product offerings. So in the case of direct lenders and loan brokers this meant clearly advising their consumers of how the service they offer really worked.

Installment loans are a form of short term borrowing offered within the short term loans market. These loans are almost always obtained via the means of an online based application form which can be completed by applicants in about 15 minutes. The aim of installment loans is to offer consumers the ability to borrow a small sum of money in a manner which is flexible and fuss free. All installment loans lenders are regulated and therefore governed by the Financial Conduct Authority and as such must be approved to practice by the FCA (Financial Conduct Authority). This means consumers of these loans are protected by a specific set of rules and guidelines when engaging in an agreement of this nature. Through extensive research the FCA developed practices which have the customer firmly at heart and as such ensure installment loans lenders are treating customers fairly.

Installment are in many respects a form of replacement for the more commonly known payday loan. In actual fact they are one of the same and both types of loan are offered within the online borrowing sector and therefore governed by the FCA. It is only in recent times that installment loans have started to replace the payday loan and aim to deliver a lending resource which is more in-line with the requests of the FCA. Installment loans give customers a better ability to borrow in a manner which is flexible and therefore affordable. Although for a number of years payday loans dominated this market with many millions of consumers using the product, over time it has become increasingly clear that for many the payday loan style of repayment is not entirely suitable. Unlike installment loans the payday was simply more limited in its repayment options and instead gave customers the ability to borrow over a very short period of repayment. This period in fact, was that of the time until their next employment pay date when the whole loan sum would be repaid.

Short term business loans are designed to finance your business needs temporarily when something goes awry or to give added fuel and capital to your business. They are intended to be paid off in as a little as a year or less, and need to be tied to investments that reap a quick or near immediate profit to cover associated costs. They are ideally suited for emergency situations when payments have yet to be paid, equipment malfunctions or needs to be repaired, or simply to boost business productivity with added capital.

The most obvious benefit associated with short term loans is that the interest rate of short term loans is lower than that of long term business loans. Approval for these short term loans is also either quick or immediate, creating more readily available opportunities for the business owner.

A major risk associated with short term business loans is that the penalty fees for such loans are notably steep in the case of late payments. You should only invest in a short term business loan of you are firm in your knowledge that you will make a great enough profit quickly enough to cover the costs of the short term loan. If not, then you will face these undesirable penalty fees.

Further precautions need to be taken into consideration when dealing with hidden fees and interest rates. To avoid them, make sure that they are fully disclosed and made known to you. These come in the form of higher interest rates and steep penalty fees, so be on the lookout for them. Make sure they are fully disclosed.

A last precaution is to be aware of “merchant cash advance” or “business cash advance” lenders. These types of lenders are associated with the aforementioned penalty fees and high interest rates. Avoid them at all costs, and be on the lookout always.

Short term, often high risk loans can reap great benefits. Payday loans are ideal for those with secure employment, and can be granted to someone if proof of employment can be verified, or with bank statements. Criteria to qualify for such loans does vary depending on who gives them out and whether they are given out by an independent company or not.

The benefits of these loans are temporary financial security. If you are short on cash, and can’t pay the bills a short term loan can benefit you. Just be completely sure that you are aware of the risks, hidden fees and interest rates associated with it before picking the right one for you. Once you have made sure you’ve found the right one, you can proceed with clarity and ease of mind and look forward to fueling your business or calming a financial emergency.

If anyone is ever looking to borrow money regardless of the reasons, they must always consider a number of different things before any application can then be made. This must be done on every single occasion and no one should ever rush into applying for loans or just take out the first piece of finance that could come along their way. First of all any borrower must know that they one hundred percent need the finance in question and then if so they can then select just a realistic amount to borrow. Any amount obtained must then be affordable for that person to then repay the debt. The actual type of finance can then be considered by the borrower. Here someone can then have a number of different options, for example short term loans could be available from payday loan lenders only or other payday lender options. Instalment loans are also a common borrowing alternative and here in some cases people can borrow larger amounts and then repay the debt back over a longer period of time. Below is further information regarding payday loans and what these offer to people.

If people are ever looking to borrow money I certainly feel that the chances are they will want the money quickly. Most likely they will like to have the cash at their disposal so they can put the money towards what they require it for. I feel using payday loan lenders only can make this happen. That is a massive benefit of using this kind of borrower. People can quickly and easily apply for their financial products online or sometimes over the phone. It is a simple process that should only take the average person a matter of minutes to complete. If that same application is then approved by the lender then most likely that person will receive their cash in their bank account that very same. This loan can by payday loan lenders only can often be a good way to borrow a relatively small amount of cash quickly when it is needed. E.g. if a financial bill unexpected was received for just one example.

Now I must admit I like the fact that payday loan lenders can provide people with cash quickly when it is needed. I also really like the idea that this way of borrowing can often be actioned by someone who has poor credit and as a result they may have been rejected elsewhere for finance. People will however, need to consider that the lender offering this finance often charge high interest on any amount that is borrowed. Any amount borrowed by any person will often be done so with high interest charged. It is common that the first thing people associate with these loans is the fact that high interest is charged. This can help people with bad credit and the loans can be obtained quickly however, it is often an expensive way to borrow money for a very short period of time.

If anyone is ever looking to borrow money they will always have to consider a number of different borrowing options before any application can then be made. Some may be entitled to more finance than what others can be entitled to. For example borrowing loans or other finance can be tough and the borrowing options are minimal for people who have bad credit. These days from the financial market place people can often look to borrow both short term and installment loans when a loan like finance is required. Here then people can often choose from a high number of different loan amounts for repayments then due back over a selection of different repayment terms. Both short term loans and instalment loans from direct lenders are very common ways to borrow money when it is needed. Credit cards are also a commonly used way to borrow money and these of course allow people the chance to pay for different items as well as withdraw cash on credit by using the card itself.

Now when people need money there can be a high number of different borrowing options. However these could be limited for people who have bad credit. People obtain bad credit by taking out loans or other borrowing financial types and then they do not repay the debt back or they make the repayments later than what was agreed. This then as a result will then often make it much harder to get finance approved. Even when someone in this position is accepted they will often see that the finance is often more expensive than it would be for an average and a decent borrower. There can be some direct lenders who can not only appreciate this but they then aim to accommodate for these people. People who have often struggled to get approved for finance elsewhere can now then have a borrowing option when they need to. The lenders who can help in these situations know that lending to such people can be risky as they may not be able to pay the debt. That is why some of these bad credit loans can work out to be expensive.

Payday loan lenders are flexible and customer focused when it comes to their approach to lending. These lenders have certainly come a long way since they were introduced to consumers, so much so that the product in today’s market is very different to its original form. Throughout their years of trading payday loan lenders have had to learn a number of lessons and in doing so have chopped and changed in terms of consumer opinion. In the present day consumer opinion and confidence is much more positive and the so-called ‘damage’ of a number of years previous is being replaced. Payday loan lenders first came into force at a time when consumers ability to borrow a small sum of money was somewhat limited. Although borrowing was very much established within the economy, it was more so large scale borrowing which was readily available to consumers. This included the likes of Hire Purchase agreements, Bank Loans and of course Credit Cards. This meant that the ability to borrow only a small sum, over a short period of time was in reality lacking in availability.

As it became increasingly clear that the internet was rapidly becoming an integral part of everyday life, there was an opportunity for payday loan lenders to make their entry into the consumer borrowing market place. And so the payday loan was then born. Payday loan lenders gave consumers the ability to borrow on a small scale thanks to the use of internet based platforms. The online application allowed consumers to apply for a small sum without the traditional need to complete and return paperwork or speak to the potential lender in question. Agreements of such loans were electronically signed and therefore in the case of successful applications, the funds could be in the customers bank account the very same day. For years the payday loan lenders offered loans through this means, with lending of between £50.00 and £300.00 taking place. The repayment structure offered was very simple; borrow and repay the loan as a single repayment on your next employment pay date.

There can always be times when someone needs money and this can certainly be down to a high number of different reasons. There can be some people who may need a large amount of money as they are looking to make some form of expensive purchase of some kind. This could possibly be for a new car perhaps or maybe someone is looking to put money towards home improvements etc. There can then as well be others who are looking for just a small amount of cash to possibly tide their funds over just until they are next paid from their employer or they could just need some financial help paying a bill perhaps. Now if people have the money saved away they can then use this as required to then pay for whatever they need. Some people may have enough money saved away to pay for their requirement outright. Now turning to savings is also nice for people when this is a realistic option however, it is not for everyone. When people cannot use money put away and they need cash, the chances are they will then have to look to borrowing the cash.

There can be a high number of different people that don’t know that when it comes to borrowing money there can be a number of different borrowing options. Direct payday lenders for example are a commonly used way for people to borrow money. This lender in particular is likely to offer people the chance to take out short term loans when these are needed. This is when people tend to borrow amounts up to £500.00 for repayments then due back over a short repayment term. Any loan that is then repaid within a twelve month maximum period of time cannot be classed as a short term loan. This can be useful for people who are in need of cash quickly encase of a financial emergency and never should short term loans used from direct payday lenders be used as a long term borrowing solution.

When it ever comes time for someone to borrow money, that person may or may not know that they could often have a number of different borrowing options to choose from. That is just one of the many different reasons why no one should rush into applying for finance and they should always then look to explore the different options available before an application can then be made. For example from the financial market place these days’ people can often look to borrow both short term loans and instalment loans when they need to borrow in a loan like format. With this people can then look to borrow a selection of different loan amounts for repayments then due back over a number of different repayment terms. Credit cards are then another common way to borrow money, these of course allow people the chance to pay for different items as well as withdraw cash on credit up to a set limit. All three of these ways of borrowing money are very common. Below is extra information regarding direct payday lenders and what this can offer to people who ever need to borrow money.

Now regardless of an amount someone needs and no matter what the reasons are for needing cash, direct payday lenders could then help people. These are lenders who aim to offer people the chance to borrow short term loans when these are available. This is a way people tend to borrow amounts up to £500.00 for people to then repay the debt back over a short term period. A short term loan to be defined can be a way to borrow money over a maximum period of twelve months and any loan repaid over longer cannot be classed as that way of borrowing. A high number of different people I have found in recent years have turned to this way of borrowing. These loans from direct payday lenders can be useful for short term financial purposes, for instance they could be useful for someone who just needs a small amount of cash to help their finances last until they are next paid from work.