Archive for August, 2009

Most people do realize that payday loans can be a great tool in providing quick financial relief. However, there are cases when borrowers are not aware of the considerations and consequences of getting cash advance payday loan. Consequently, they may find themselves owing more than what their salaries and other income resources can provide. When this happens, it may be quite difficult to get back on track and deal with cash liabilities. This can eventually lead to falling into an even greater debt trap.

To prevent getting caught in a payday loan trouble, it is best to know what other options you can use to solve your money problems. All it takes is that you become familiarized with each alternative, so that you do not have to worry whether or not you are making the right choice. Remember, careful thought and planning is required when making decisions, and matters concerning your hard-earned finances are no exception.

One of the things that you can do is to apply for a credit card. However, most people tend to disregard this option. This is mainly because most credit cards have high interest rate and oftentimes, one must have an exceptional credit history before the application is approved. Most especially now that there are instant approval payday loans that do not involve the hassle of paperwork, individuals overlook the advantages of credit cards in the long run.

For one, credit cards have a lower Annual Percentage Rate (APR) which is usually just 9% to 15% at most. This rate is significantly lower than that of an actual payday loan, which has an annual finance rate of around 250-900%. Unless you intend the cash for short-term purposes, like paying a medical bill or making an urgent expensive purchase, you are better off with using a credit card.

You may also want to apply for a standard personal loan instead of a cash payday loan. For one, regular creditors allow negotiation and will even help you modify your payment terms. This is not the case with a payday loan company. In fact, they can even immediately file cases against borrowers who give bounced checks. Besides, even if you quickly pay off your payday loan, there will still be additional charges that you have to pay, for instance you will be charged an extra $50 for a $400 payday loan that covers a period of two weeks. Also, the interest rates of personal loans are considerably lower, regardless of your credit standing. Personal loan interest rates can be anywhere from 20 to 28%.

Alternatively, you may also opt for a debt consolidation payday loan. This is most helpful if you are unable to pay back a payday loan or you simply can’t manage to constantly apply for new payday loans. There can be several reasons why you may need a debt consolidation loan, but more often than not, it is because you have inadequate income to cover all your expenses. This is when you might need a long-term solution that can significantly reduce your expenses. If you only have one loan, you have to pay a much lower interest rate than all the new payday loan interest rates combined. Moreover, you can properly secure and handle your finances if you focus on paying just one creditor.

Whatever method you choose to deal with your financial needs, make sure that you proceed with caution and of course, spend the money wisely.

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Wednesday, August 19th, 2009

You’re probably wondering at this point how a payday loan online can make you feel good. It can’t cook your dinner, it can’t change diapers, and it can’t do the dishes. But what it can do is quite amazing. It can buy your dinner, buy those expensive diapers, and it can buy the dish soap and keep the water on that washes those dishes. So yes, it can make you feel good. It can make you feel adequate when you have felt financially inadequate and it can solve a problem when it comes about.

But how?

There are times when things happen that we have no control over. We may be running late on our bills, our car may break down, our families may need food, or some other emergency may come about. When this happens, we can feel really bad. We don’t know what to do to the point that we feel hopeless. There is no need to feel hopeless, though. In fact, an easy payday loan is exactly what is needed.

This cash advance payday loans take the guess work out of tough situations. It takes the stress away, the guessing, and makes one feel much better about him or herself. A payday loan online lends an individual just enough money to rectify the financial situation that is holding them prisoner. It does not result in any long-term debt because it is paid back by the next payday. There is a minimal fee involved for this payday loan online and there is some interest, which is similar to any loan that can be awarded by a bank.

This makes a cash advance payday loan something that everyone should look into any time that they are in a tough situation. Such an easy payday loan takes the stress out of the unexpected, which is wonderful for so many individuals. To think that all you need is a job and a bank account to get approved is rather phenomenal. That means a payday loan online doesn’t require that a person have good credit in order to be approved.

Living

Basically, the cash advance payday loan keeps your life from coming to a halt. This easy payday loan can keep things moving forward for you instead of wondering how you’re going to find money. Let’s just say that your child says it is two days until picture day at school and they forgot to show you the order form. You don’t have the money, but you can apply for your payday loan online and have the money in the bank by the next day. That allows you to get the money from your easy payday loan, fill out the order form, and off it goes with your child to school. It doesn’t matter that it is a week before your payday. Your cash advance payday loan was there waiting for you the whole time.

At least you now know that there is a place to turn to help you when you’re in need. Your payday loan online is that place. The easy payday loan process makes applying a cinch. Let’s face it; you don’t need any more stress than you already have. That is why a cash advance payday loan is the stress-free way to get cash fast.

 

If something comes up and you need extra cash until your next payday, you’re in luck. All you have to do is go to a payday loan online website and you can acquire the cash you need to get you through until you get paid again. There is no credit check required, it is not required for you to walk into the lender’s office to get your cash, and you do not have to pay for your cash advance for a long period of time. It is a way to get the exact amount of money that you need when you need it.

It is this ease and convenience of the online payday loan that makes these websites so successful. The individual receives their cash quickly and is able to resolve any emergency that has come their way. All an individual needs is a job, an ID, and a checking account to be approved within 24 hours. Some individuals have reported receiving their approvals for their payday loans online in less than an hour.

Online payday loan vs. bank loan

When in need of a cash advance, some individuals feel they can just go to their bank. They trust their bank with all of their financial needs, so why not just go there? Well, there is a reason behind that and the reason is the fact that banks will only loan a minimum. That minimum is usually more than what you need, which doesn’t exactly constitute it as a cash advance. That makes it a full fledged loan that could take a year or more to pay off. That is not the case with an online payday loan.

Your payday loan online is very simple and doesn’t contain anything in the small print that you won’t understand. You’ll also find that there is a lot less paperwork involved than with a bank loan. In the paperwork you will receive, you’ll find that there is a standard cash advance fee, there is interest, and late fees do apply if the loan is not paid back by your next payday. That means not having the money in the account when it is time for your online payday loan company to make their withdrawal.

You’ll also find that, if the money is stretched beyond your next payday, the interest does accrue. But doesn’t that happen on a regular loan anyway? Yes, it does. However, the purpose behind your payday loan online is to ensure the money is back in the lender’s hands by the next payday. That keeps cost minimal for you, keeps you away from a long-term obligation, and gives you the satisfaction that you’re not in debt.

Peace of mind

What is most important is that a payday loan online provides you with a cash advance that is just enough to take care of your emergency. This gives you peace of mind in two ways: First, your payday loan online is going to take care of your financial emergency fast and, second, your online payday loan is going to not result in long-term debt. Both of these are very important during these tough times.

 
 
Wednesday, August 19th, 2009

Why Payday loan

Among the various types of loans available in the market, payday loan is one of a kind. It is a short-term loan paid by the borrower till his next payday. The term extends from one payday to the next payday. You can get a maximum amount of $200 to $1500 as a payday loan and can return it in small installments. These loans can be repaid in 30 days and if there is any problem in the repayment, an additional fee can be charged by the lender.

Features of Payday Loan

Payday loans are very popular these days due to their striking features. These loans are easily available and can be easily availed from any financial institutions available in the market. Payday loans can be borrowed without any collateral and charge an interest ranging from 10-25%. The only conditions for availing these loans include-

• The minimum age of the borrower should be 18 years.
• The residential address should be of the place where you are staying for at least last 6 months.
• The borrower should be permanently employed with a fixed monthly income.

Benefits of Payday Loan

Payday loans are fast cash loans that are easy to avail and easy to pay off too. Some of the benefits offered by payday loans include-

Fulfill Urgent Cash Need: Payday loans help you to fulfill your urgent cash need. These are short-term loans that help in easing your small financial problems or sudden expenses like repairing a car or paying the tuition fee for your child.

Easy Approval Criteria: There is a very easy approval criterion for availing the payday loans. You need to choose the lender and apply with information like name, address, contact number, monthly income, and bank account status.

Online Access: You can also fill an online form to avail this type of loan. It is a simple procedure, which includes filling an online form with the above-mentioned details. After this the loan application is reviewed and sent to different sites.

Direct Deposition of Money: The pay day cash amount is directly transferred to your bank account on the same day or in the next two days.

Automatic Deduction: You don’t need to be worried about the date and amount to be returned in the due time. The money lent to you is automatically deducted from your account after your payday.