New payday loans firm launched

Thu, 07 Aug 2008

A new payday loans firm has been launched with the aim of allowing consumers to bridge a spending gap in tough times.

Payday Power will offer short-term personal loans to consumers who are struggling to make ends meet and cannot obtain credit from other sources.

According to the personal loan firm, it was founded in response to a growing demand for a "safe and easy" service which is regulated by government bodies.

The firm offers payday loans which should help people with unexpected costs such as a car repair bill.

Emily Davidson of credit.com, said: "Payday loans can be a good tool for quickly and easily borrowing cash during an emergency if you don't have other financial options."

Customers who take out a personal loan with Payday Power can get the money the same day they apply for it.

Recently, a study by Lloyds TSB Personal Loans found that 59 per cent of people who were considering moving have put their plans on hold and borrowed money to renovate their current property instead.
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