6-month payday loans
Some lenders offer payday loans that can be paid off in instalments, such as 6-month payday loans. These work in the same way as a traditional payday loan but often last longer and allow payments in stages. A 6-month payday loan will enable you to spread the cost of your loan between your next six paychecks instead of having to pay it all from one. Here is everything you need to know about 6-month loans via The Money Shop.
Payday loans are typically short-term loans paid back in one go when your next paycheck comes in. They help bridge the gap until you get paid and are particularly useful for emergencies and unexpected situations. One of the biggest concerns with a payday loan is paying it off in one lump sum, usually within 30 days. This can be problematic if you need to borrow more than you can reasonably pay off in one go. That’s why six-month loans can sometimes offer a better alternative.
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What can a 6-month loan be used for?
You can use the money from a short-term loan any way you please. Whether you need some cash quickly for an emergency, such as a broken-down boiler, or want to treat your family to something nice. The great thing about short-term loans is they can help you spread the cost of any significant expenses so you can plan your budget and ensure you have enough money for your essentials every month. When you apply for a six-month loan at The Money Shop, your reason for the loan will not impact your application, so you can feel free to spend your loan however best helps you.