Peter's payday
Peter got a nasty shock when checking his bank balance on Tuesday morning. He has spent a lot of money on food and petrol, and bought his roommate an expensive birthday present – more extravagant than he can afford. It is still two weeks until Peter’s part-time job pays his wages, and three weeks until he receives his next Work and Income payment. The money in his account isn’t going to be sufficient for rent and everyday expenses.
Peter’s employment situation and income mean he isn’t eligible for a credit card or a personal loan from a bank. He considers a payday loan as a one-off, short-term alternative. Peter finds he qualifies with a few different payday lenders, so he compares his options and finds one that can provide the money he needs. Peter submits his application online and receives the loan a few hours later.