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What are the options for instant loans in Ireland?

More and more people are finding themselves stretched with bills and outgoings. Mortgages are going up with mortgage rates going up and up and the outlook is for them to climb over the near to medium future. Inflation is driving the cost of things like energy and goods to rise too so it is no wonder that more and more people are finding themselves stretched near the end of the month and in need or short term instant loans.

In the UK many people have found themselves turning to websites like Wonga and QuickQuid to bridge the gap between outgoings and income before payday comes around. Wonga themselves have identified Ireland as a market to expand into but that is for later. Right now they do not offer the facility to Irish customers.

Many Irish borrowers have turned to loan sharks but this is not advised for many reasons. Most of all these loan sharks charge well in excess of the 40% interest rates that are allowed by law. With illegal business practices and ties to criminal underworld activities we advise people to stay well away from these lenders.

So what can Irish people do when looking for instant loans in Ireland? Credit unions can normally give same day responses to loan requests but generally borrowers must have a history with the credit union and built up trust.

Many banks too offer personal, unsecured loans. Even though these loans can be arranged over the phone and within a day they are still subject to stringent credit vetting.

Our advice to people looking to borrow money quickly is to contact MABs, the Money Advice and Budgeting service via their hotline 1890283438. They are trained professionals who can provide expert opinion in a confidential and free manner.

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