Many people turn to loans till payday as a fast and convenient way to get hold of cash quickly to cover the cost of emergency situations. For many people a payday loan is the only available source of finance due to their current financial difficulties. Many other sources of credit are not available because they rely on you having a high credit score to be able to qualify for the loan or to get credit.
Whilst this type of lending is convenient it can often be problematic having to repay the loan over such a short period. This type of lending is short term and will usually require the customer to repay the money on their next payday. This means that the money that you have borrowed will need to be repaid in less than 30 days, often sooner if you are closer to your next payday. It can mean that loans till payday are often difficult to repay for many people on a tight budget.
As a consequence some customers have to take out a second loan no sooner as the first loan has been repaid. You still need to cover the cost of everyday expenses such as meeting the cost of bills, rent and food. To remedy this situation it is possible to ask your lender for an extension so you get a longer period to which you can repay the money that you have borrowed.
It is possible to get 3 month loans by contacting you loan provider and asking for an extension. You can also contact them prior to taking out a loan to ask them if it is initially possible to take out the loan over a longer period. Please be aware however that this will involved higher lending charges as you are essentially borrowing the money for three times as long. A three month loan however can sometimes be the only way many people can afford to repay the cash loan other than continually borrowing month on month.