A payday loan is a cash advance on your
paycheck for usually up to 50% of what you will earn. There
are many lending agencies that offer this service and more
are springing up online as well. Between the Internet and
the telephone system, you can have money directly deposited
into your account in no time at all without stepping foot in
a loan office!
Whether you have good credit history, bad credit history, or
no credit history at all, there is a very good chance that
you may qualify for a payday loan. Part of the reason is
because pay day loan companies are like brokers who find
lending agencies for their customers.
Occasionally, but not always, the customer will be asked to
fax some information to the lending agency in order to allow
them to make a decision on whether or not they will lend
money to you and how much they will be willing to lend.
However, there are lending agencies out there who do not
require you to fax any information in order for them to
process a loan, since they can verify some of your
information online very quickly.
For this service, lending agencies will charge a fee or may
charge a higher interest rate than other types of loans.
Typically, you will be expected to repay the loan plus the
fee or interest on your next pay date. If however, you
cannot pay at that time, you may be able to get an
extension.
Payday Loans are a great way to get a little money upfront
if you cannot wait until payday comes. Perhaps you have an
emergency or a great opportunity that you would otherwise
not be able to enjoy if you waited until you got paid.
You need to be careful, though. Payday loans can be good,
but they can be a dangerous habit to get into if you find
yourself strapped for cash in the days leading up to every
paycheck. Perhaps then you would be better off analyzing
your budget and determining whether or not your spending
habits or income is in line with your expectations.
About The Author
Jeff Lakie is the founder of http://www.my-payday-advance.info
and http://www.my-fast-cash.info
websites providing information on
Payday loans.
SAVE YOUR MONEY - AVOID COSTLY
BANK FEES
SAY NO TO NSF AND OVERDRAFT
CHARGES
NO FAXING AND NO CREDIT CHECK
REQUIRED
A great
advantage of payday
loans is that the
whole process is
discreet. Only you
and the online site
advancing the loan
will know that you
have availed a loan.
The information will
not be reported to
credit reporting
agencies or anyone
else.
A payday
loan or
cash
advance
is a quick
and
convenient
way to
bridge
your
cash
needs
between
pay
days.
Funds
requested
are
electronically
deposited
and
withdrawn
from
your
checking
account
on
mutually
agreed
upon
dates.
This is
a
short-term
cash
management
tool and
not
intended
for
financial
problems
that
consumer
credit
counseling
would
resolve.
Our
loans
range
from
$100 to
$500.
The
amount
of your
loan
will be
determined
by
verifying
and
analyzing
the
information
in your
application.
Upon
approval,
your
checking
account
will be
electronically
credited
the next
business
day for
all
applications
completed
by 5:00
PM PST.
Posting
funds to
your
account
depends
solely
on the
efficiency
of your
bank or
credit
union,
but
typically
happens
on the
next
banking
day.
Payday
loan is
a smart
financial
solution.
Need
cash
right
now, but
payday
is few
weeks
away?
Bills?
Unexpected
expenses?
Do you
have
other
alternatives
you
could
explore
first?
We can
help.
Well,
what are
the
benefits
of
payday
loans?
Let’s
see:
You
won’t
have
to
go
through
the
hassle
of a
credit
check.
You
can
apply
in
person,
on
the
phone
or
on
the
Internet.
The
process
takes
less
than
20
minutes.
The
loan
proceeds
are
automatically
deposited
into
your
bank
account
within
24
hours.
It’s
affordable,
at
least
immediately
–
you
don’t
have
any
up-front
costs.
It’s
discreet
–
nobody
else
is
involved.
It’s
secure
–
your
financial
information
isn’t
shared
with
others.
Ok, that
makes
sense.
Those
are
enough
reasons
to get
rid of
the
stress
of being
short of
cash.
It’s a
“quick
fix”.
You can
cover
the
shortage,
and get
on with
your
life.
And
you’ll
be able
to pay
it back
next
payday,
right?
So
you’ve
solved
your
problem.
|
uick
and
convenient
way to
bridge
your
cash
needs
between
pay
days.
Funds
requested
are
electronically
deposited
and
withdrawn
from
your
checking
account
on
mutually
agreed
upon
dates.
This is
a
short-term
cash
management
tool and
not
intended
for
financial
problems
that
consumer
credit
counseling
would
resolve.