With the holidays just a mere memory, most households are getting back into the swing of normal, less hectic life. For a number of Australians, however, the months after excessive spending for holiday gifts, travel and entertainment can create a great deal of stress. As the bills stream in and credit card balances are higher than anticipated, it may be necessary to look at alternatives to pay down your debt. One of these options may be taking out a quick loan.

Quick Loans

Quick loans are offered by a number of lenders across Australia, but have a heavy presence online. For those interested in paying down credit card debt, quick loans provide financing faster than traditional banking methods but in lower increments and shorter repayment terms. For some lenders, loans are only available in an amount as low as $100 up to $5,000 and if secured by a borrower’s paycheck, may be due in as little as 30 days, in line with his or her pay cycle. Some lenders will allow for repayment terms of up to 12 months, but may charge a higher rate for extended repayment.

When credit card balances are high due to excessive holiday spending, a quick loan may provide an alternative avenue to pay down debt. These quick loans can help you take care of your medical bills, car expenses, overdue bills, credit card bills, and other life’s surprises. For individuals with negative marks in their credit file, either due to missed payments or high credit card or other loan balances, a quick loan may not be offered with traditional lenders. Also, income verification may be necessary to ensure repayment is possible.

For borrowers with a good credit history and steady income, quick loans are can be an attractive financing method that is faster than conventional personal loans. For borrowers with less than perfect credit history, quick loans are still an easy option if you know where to look. There are a lot of independent financial providers that offer quick loans to people with bad credit such as the Australian Lending Centre and Bad Credit Loans. If you are approved for a quick loan, it is important to understand the fees and interest associated with accepting the loan as well as the terms for repayment.