A Debt and Short-Term Loan Story
The celebrity News has been alive with the Johnny Depp vs Amber Heard Court Case. For weeks we have avidly followed the in’s and out’s of a celebrity couple’s personal relationship. An insight into a bizarre turn of events.
Winner and Loser
Ultimately, Johnny Depp won his libel case and recovered some of his lost pride – a victory, then. Amber was also able to take some small measure of victory. Unfortunately for her, the ruling that went her way was relatively trivial and she lost overall. As evidenced, she expressed her deep dissatisfaction with that.
Both celebs have been linked to debt and in Amber’s case, her lawyer is claiming she may not be able to afford to pay for her losses. This raises the question, how will she, or anyone in debt, manage to find the funds that they need?
The Short-Term Loan
Enter the instalment short-term loan. For many, a loan that is relatively short-term, i.e. up to 12 months, could be a solution to an ongoing debt problem. Why? Well, quite simply, spreading the cost of the repayments over a period that is more manageable is more comfortable.
Easier repayment plan
For example, if someone owes £1000 to one company and £1000 to another with both being due over 3 months, resulting in an outgoing of £835 for both, it is possible to consolidate those two debts. The net result spreads that cost over 12 months and reduce the monthly to £326.
Now, while this is certainly a solution to reducing the £835 to a more manageable £326, it should only be done if there are no other options.
The reason for this is because the 12 month solution attracts a longer period of interest. This makes it by far the more expensive option at the end. However, it may still be preferable to defaulting on one or both of the initial debts and getting a credit score destroying CCJ.
Always pay your debts. Always ensure you can afford your repayments. Never take out a loan you cannot afford. Always read the small print of any Agreement or Contract. If you see hidden costs, walk away. Use only reputable Lenders regulated by the Financial Conduct Authority.
Who are you gonna call?
Ok, not Ghost Busters. There are none here but once you have considered all of your options and decided to look for financing, look no further.
If you need a loan, a short-term loan, an instalment loan from 3-12 months, contact us, we may be able to help. The Quick Loan Shop Homepage