Payday loans sometimes come in for some criticism, especially where APR is concerned, but when financial difficulties arise they can be a real help.

The best thing about these types of loan is their speed. How many people suddenly realise that they’re about to go overdrawn at the bank, or perhaps breach their overdraft limit, triggering swingeing charges or perhaps find they don’t have the funds to make the minimum repayment on a credit card bill? The answer is more and more nowadays.

With debt consolidation loans pretty much as hard to get as a flight to Iceland, meeting these commitments is really stretching the finances for many people. Just because there’s a strangle on credit, doesn’t mean that these debts have gone away, most people still have them, and the price paid for financial transgressions like missed card payments can be catastrophic for your credit rating. Just three can send it plummeting down to the point where you have the same borrowing power as Greece.

Spend more than two months overdrawn at the bank and the fees you end up being charged make a stay at the Ritz look like a cheaper alternative. The fact is, under these circumstances, a payday loan can really save your bacon.

Payday loans can be applied for online quickly and easily, they can be in your account within minutes and be available immediately to either redress you bank balance or meet that minimum repayment and help you keep your precious credit rating.

They give that all-important breathing space, and one of the other big advantages is that you can borrow as little as £80, which could be just enough to help you out until the next wage comes in, and which most people could afford to repay easily.