loans cash advance: An Umbrella for a Sudden Rainy Day
one of us faces financial contingencies once in a while, often
once in every few months. This is a time of irony. A sudden emergency
creeps up where you are in need of just a few hundred dollars.
The need could be anything from the repair that a sudden breakdown
in your car has cost you to a sudden medical emergency of a loved
one for which you need money immediately, say right now. The old
way was for people to borrow that money from someone they knew.
However, this created dependencies and many self-reliant and proud
people do not like to ask friends for money, especially such a
small amount and at a time where your friends would also be in
need of that money.
ironical because the emergency has crept up just a day or two
before your payday and you are rubbing your hand, clueless about
what you should do. Of course, your office will not give you an
advance paycheque. But how you wish now that they would.
is for such a time that the concept of payday loans cash advance
was conceived. A payday loan is a loan of a small amount,
anywhere between say $100 to $1000 that you take in an emergency,
on the condition of paying it back with your next pay, or spread
out over the next few paydays. Simply put, the only criteria you
have to meet to take a payday loan, is to be a salaried person.
If you are, you can avail of a payday loan that suits your requirements
of money and repayment.
are many financial institutions, both from the banking and non-banking
sector that offer you a choice of payday loans at different rates.
Lot of these institutions have opened up physical locations in
almost all states of the U.S. where you can go and get a quick
and hassle free payday loan. If however you donít even have the
time to search for and go to a physical location, worry not. For
you can search on the Internet about a payday lender, give the
few requisite information they seek and presto, the payday loan
is your, then and there. The wonderful concept of electronic transfer
of money from one bank account to another has ensured that the
money has immediately landed in your account.
loans are available for various purposes and on various conditions.
Conditions like medical emergencies, sudden need to repair your
car or your house, repayment of your credit card bills, are all
valid reasons and so is a reason that there is a sale in your
neighbourhood superstore but you donít have the money to take
advantage of the low price of goods. Heck, even a payday loan
to pay off a previous payday loan you had taken is good enough
reason. The reason for the loan you take is entirely yours so
is the amount you want a loan for. However, most payday loans
are between $100 and $500.
loans are further segregated depending on type of people who take
the loans. For example, there are business payday loans (especially
for business men), savings account payday
loans cash advance (for those that have a savings account)
etc. Then there are payday loans specifically made for military
personnel called the military payday loan, specializing in lending
money to those serving the nationís armed forces. Military payday
loans usually have lower interest rates and are more flexible
than other payday loans. Then thereís also a bad credit payday
loan. This payday loan is specifically for those who have a bad
loan companies are further segregated based on the speed at which
they give you a loan. There are those that would give you a payday
loan in less than 5 minutes. Usually, a payday loan takes anywhere
between an hour to a day. Any loan that takes more than a day,
get out of the purview of payday loans since, the very purpose
of a payday loan is to pay for a sudden emergency. If you have
to wait more than a day for the money, whatís the benefit of having
it after the emergency has come and gone.
there are payday companies which set up shop in your neighbourhood,
others that are part of a bank itself and do so from their branches,
there are still many who do not have a physical location and choose
to offer payday loans cash
advance from the Internet, electronically transferring the
money that you have loaned for. Thereís every type to suit your
self and your needs.
loans entail a fixed fee or percentage interest on the loan amount.
This differs for different companies offering the loan. The percentage
of interest on the loan is anywhere between 5% to even 50% depending
on your emergency. Fixed fees also differs but is usually between
$15 to $50 for a loan of less than $500 and around $20 to $200
for a loan between $500 and $1000.
the loan itself, the repayment options for payday loans, is quite
flexible. However, most of the payday loans are repaid by writing
a post-dated cheque when the loan is being taken. This cheque
includes the loan amount plus the percentage amount or fixed fee
for the loan. The date of the cheque is set for your next payday
or the day you specify. Usually it is paid back in less than 15
payday loan companies, pay the amount you have applied for directly
into your account, which you can then cash in using the nearest
ATM. The repayment due to them is again done directly by instructing
your bank to electronic pay back the money on the day of your
salary, or on a date specified by you.
avail of a payday loan, you have to give some information. The
information asked by companies to give you a payday loan differs.
Usually apart from your name, address, age etc., the info sought
is about your bank account, salary, credit history and sometimes
even your social security number.
you take up any payday loan there are a few information you would
like to check up yourself, a few pointers you should keep in mind.
Yes, itís true that payday loans are usually taken in a hurry.
But even if you are in a hurry, do quickly double check on at
least these two things: the interest or fixed amount that is being
charged to you by the company and the amount you would have to
pay if you default on your repayment.
loans have become not only a reality of modern day living, but
also a necessity. It helps a person to tide through a difficult
time. At some point or the other, each one of us has either taken
a payday loan, or might end up in a situation where we would need
one. Hence, even if at this very moment we donít need a payday
loan, it is best for us to sit and research out a few things about
payday loans. This pre-emptive research will help you when you
are in a desperate urgency. After all, no one can predict an emergency.
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