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Payday loans are one of the most versatile and accessible forms of borrowing currently available to consumers. This means that, unlike other forms of credit, they are open to far more people - even those who are paid weekly.

However, this isn't to say that all lenders will have the same policy when it comes to the frequency with which an applicant is paid. Some may still only accept those who receive their salary on a monthly basis, potentially excluding those who get the money delivered to their account on a more regular basis.

The reason why this is such an issue for lenders is that they have to be reassured that you'll have the money available on the agreed date. Therefore, anybody who receives a monthly salary should, theoretically speaking, have a significant amount available on the date that they're paid. As a result, they should easily be able to cover the loan amount, which will be restricted to a few hundred pounds for anybody applying for the first time.

Conversely, those who receive their wages on a weekly basis can't offer this same guarantee. Even if they enjoy a good few pay days before the loan repayment is due, this money won't necessarily be in the account when the time comes. This piles risk onto the lender, more than some are willing to accept. As a result some will choose to simply reject applications as part of their terms.

If you are paid weekly, then it's important that you take the time to see what is on offer with the payday loan market. Just because one lender might not be able to help, that doesn't necessarily mean that they will all be the same. Policies can vary wildly between the companies, therefore people from all backgrounds stand a chance of getting the money they need.