In the UK the only people who can borrow money are the ones who already have money, and the people who pay off their loans are the ones who can continue to borrow money to keep their credit ratings in a good state.

But for those who live in a more realistic way, where a broken boiler, leaking washing machine or a blocked sink can lead to money being a little tight, borrowing money is essential. However if you fail to make your repayments a couple of times then you could end up with a bad credit rating and, even when you need it desperately, may not be able to borrow money.

The easiest and quickest way of getting money when you really need it is through payday loans . All you require is a job and a decent wage that will allow you pay back the amount that you borrowed when your next wages arrive, even if you have a poor credit rating from previous financial problems.

Late payments, arrears CCJs (County Court Judgements) or defaults can damage a credit rating and lead to refusal of personal loan applications by banks, but even if this is the case you can access money with a payday loan, and the money can be in your account less than 24 hours after application. This can happen sooner as the money is transferred when the details of your job and wages have been checked.

Payday loans are still an option for you even if you can still get a loan from your bank, for example if you are scared of your bank manager! Most payday loans are available through Internet application, so relax, there is no need to put on your smartest suit and spend a hot afternoon being grilled by your bank if that thought makes you a little uncomfortable! Everything can be done online, so you could easily be wearing your pyjamas when applying for a payday loan.

Payday loans do have a downside and that is the high APR rate, however if something catastrophic does happen such as the boiler breaking or a sink blocking, the cold nights and water damage mean that it is probably more sensible to pay the high interest rate, that is unless you want to take the chances that things don’t get worse between now and payday!