There was a time not so long ago
when we could easily open bank accounts and overdraft were granted freely as
this allowed banks to make money on the interest. In an emergency your friendly
high street bank manager would always lend a sympathetic ear and discuss a repayment
strategy before lending you the money.
All sounds like a fairy story now
doesn't it? The irony about the current unhelpfulness of the banks is that they
bought it upon themselves with rogue traders, or more correctly, gamblers in
pin stripe suits, blowing all the money. They also made themselves branch out
into areas of business that had nothing to do with banking but should have
remained the role of insurance companies and building societies.
The bank manager in a small town had
an air of respectability and was an upstanding member of the community who
would know every small business personally and could use his judgement to
understand unusual circumstances had made life difficult for a particular
business but he had the knowledge of the business to know whether or not
recovery was likely with a loan.
In bowler hats and frock coat well
into the nineteen sixties, these managers often had a look of the wonderfully
pompous Captain Mainwaring with their inflated egos. However, you treated them
with respect because they had it in their power to make or break small
businesses.
Today there is rarely a manager in
sight and if there is he has no authority to grant overdraft or loans without
pushing buttons on a keyboard and letting the screen tell him you are not going
to get a single penny.
Just now and again you may realise
that funds in the bank are not going to last until pay-day and with the banks
unwilling to help it might make sense to take a very short loan. Quick payday
loans are useful schemes that help very short-term you should not take one if
you know that come the next pay-day you will not be able to repay it in full.
Equally, you should not take one if
you know that after it has come out of your monthly salary the shortfall in
your income will mean that the following month will throw up exactly the same
cash flow problem.
The loan should be seen as a very
short fix to an immediate problem. It is usually an unexpected or even over
looked bill that simply won't wait till next pay-day without creating serious
problems like the threat of one gas, electricity or some other utility being
cut off or any other reason.
The best thing about quick payday
loans is that you don't need to explain yourself about what the money is needed
for and the other good thing about quick is that this is exactly what it means.
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