By the time you’ve settled on wanting a loan, you have to carefully consider which one you’d like to go with. The wrong decision could easily cost you thousands of pounds in the long run. That said, it’s a must that you ensure you don’t rush into any decision-making when dealing with them. A payday loan and all sorts of other quick-solution plans are out there designed to catch people out – with the illusion of being able to solve your money worries the very day you contact them – so you must plan it thoroughly. Remember, the idea is to be able to get the issue out of your hair as quickly as possible.

- Rates. Keep an eye on the APR, as it’s useless entertaining everyone who says they’ll be able to supply you with the money you need, if huge debt will haunt you for a long after you side with them. See who’s offering the cheapest rates and check for what other charges might be thrown your way, if you stick with them.

- Provider. Although it’s obviously an idea to keep tabs on what rates are the lowest, choosing which provider you’re with is almost as important. There’s no use in going with someone who’s likely to hide charges from you; therefore more willing to make you pay for other unnecessary things on top of the repayment value.

- Comparison. There’s a mass of different providers out there. Just because you may know someone who’s raving about the success which they had with a loan company, doesn’t mean that your situation is the same or is suitable for you. Look at the many options out there until you find the right balance of being affordable, but won’t be a long-term burden.

- Plan. Before you settle on the loan which you think is right for you, plan it out yourself as if you’ve already done it. Don’t leave it up to the company to convince you that it won’t take very long to pay back – or that you won’t notice the money seeping out for your bank account – make sure that you’re the one who’s in control.