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By: Wally Vinup
Consumer Trend Investigator | Your Daily Finance
Payday Loan Real cash for real people in need is exactly what we offer at Cash Advance Loans. Tough economic times mean that most of us are short on cash at some time or another, whether this is due to an unforeseen circumstance or just rising prices. Whether you need cash for groceries, an unexpected repair, medications and medical bills, or any other reason we can offer assistance at Cash Advance Loans, no matter what your credit score is. We scour the best cash advance lenders, so that you get the benefit of approval and cash in hand to meet your financial needs.
We work hard to help you find the very best loan for your exact situation to help you get the money that you need at very reasonable rates that depend on the loan amount and the state.
Instant Payday Loan When you require money as soon as possible, and payday seems a world away, an Instant Payday loan may be what you need. Instant Payday Loans can be done through online loan services that will review your criteria quickly, and contact you via e-mail or by telephone to complete the loan process. For those that become eligible for an Instant Payday Loan, your money should be deposited into your checking account that day, and you should have access to your money the next business day. For an additional fee, many Payday Loan companies may wire the money you are borrowing to your personal bank. If this is the case, make sure you know your bank's policies regarding receiving a wire transaction. The fees for doing so may be higher than you expect to pay. Instant Payday loan amounts One advantage of obtaining an Instant Payday loan is that there are many amounts you can opt for. Most lenders offer amounts between $100 and $1,500. The amount you receive will depend on how much you make in your current employment, and other requirements the loan company will have. When will the money be in my checking account? You can expect most Instant Payday loan companies to have the money you borrow in your account within 24 hours, usually on the following business day. If you require the money sooner than that, many lending companies may offer to wire transfer your money into your checking account so you can get it within hours. Be sure to check into all the fees, as this can become a very expensive procedure. Not only will you be charged the original lending fee, you will also incur a wire transfer fee from the loan company, and possibly a fee from your bank for receiving the wire money transfer. If you have a money emergency, however, the higher fee could be worth paying. Will the Instant Payday lender run a credit check? This is one huge advantage that causes many people to turn to an Instant Payday company. Very few lenders will run a credit check on the individual borrowing the money. As long as you meet their other requirements, it should be simple to obtain an Instant Payday loan. Requirements include being 18 years of age and older, having a job, a checking account, proof of income, a government-issued ID, and a certain amount of money per month in income. When will an Instant Payday loan need to be paid off? The timeframe for paying an Instant Payday loan may vary, but it is generally 14 days. An Instant Payday loan is technically an advance on your upcoming paycheck. Some companies allow 14, 21, or 28 days. After the time is up, you are required to pay the loan amount and the fee in full. If this is not possible, many lending companies will agree to take the fee only as a payment and extend your loan into a new time period. Check with your lender, as many will automatically do this. You will then incur new lending fees until your whole loan is paid off and taken directly from your account. Who can get an Instant Payday Loan? Most people who meet the minimum requirements are eligible for an Instant Payday loan. Since receiving this type of loan is fast and relatively easy, many people will try to get an instant loan when they are in need of quick cash. When the guarantee of a very quick payment is offered, the higher fee does not present a problem for many individuals. When an emergency arises and you are out of cash, an Instant Payday loan may be the right solution. Instant Payday Loan Interest Rates When you receive an Instant Payday loan, you repay the company with a financial fee instead of the typical interest rate that a bank may use. Different companies offer various financial fees, so it is always best to shop around for the best lender to fit your specific needs. The fees are for a specific time limit, which is usually 14 days. However, depending on the needs of the individual lender, this time limit may be extended. One basic rule of thumb is this: The longer you borrow money, the higher the fee will be. When the time period ends and the loan rolls over, a new fee is incurred. Fees become high when looked at as an APR - if you borrow $100, and the fee is $15, your APR will equal 391.07%. Restrictions for Instant Payday Loans Another reason to consider an Instant Payday loan is that there is no restriction, in most cases, on how you plan to use the money. Multiple Instant Payday Loans Many borrowers wonder if it is possible to have multiple loans through the same company. It is entirely up to the lender whether they want to provide more than one Payday Loan to the same individual at any given time. Many companies will permit it, while others may not. Check with the company to understand their policy on multiple Payday Loans. Payday Loan – or so called pay day loans - have taken SA by storm with 1000 to easily accessible Payday Loan to cover excess Christmas expenditure. But are Payday Loan worth it? Instant Cash LoanWith the growing numbers of payday loans providers offering quick and Payday Loan in as little as 10 minutes, it becomes really tempting to apply for a quick payday loan if we’re suddenly hit with unexpected expenses. And whilst there’s a variety of options available for instant cash – see our top pay day loan provider comparison for an example – it must be made clear that Payday Loan are one of the most expensive types of debt available! Having said that however, there are a certain instances where it might make sense…. Are Payday Loan Ever Worth It? The straight forward answer is Yes and No! Whilst Payday Loan should never be used to fund casual or excessive spending, they can be useful if you need to fund a purchase right now that would otherwise attract more fees or penalties (think about late payment penalties on bills or licences). The additional costs and potentially much more damaging impacts on your credit rating, will make the costs of using a payday loan company worth it. So as with all loans, you should only go for an instant cash loan if it is the cheapest way to borrow, given your current circumstances! What To Look Out For With Payday Loan This might sound like a bit of a cliche, but make sure you understand the fine print of any agreement your getting into. Most of the online payday loan providers make it really easy to get instant cash transferred into your bank account – but make sure you don’t get fooled by the ease of use and friendly tone – like all loan agreements, these do come with some very hefty clauses and stipulations. You need to make absolutely sure you understand how the repayments are structured. Most payday loan companies charge an initial initiation fee plus the daily interest payment – whilst it might sound cheap when calculated on a daily basis, make sure you understand the rate of interest when compared against your typical rate of borrowing (i.e. around 30% of your credit card for example). Most payday loan providers charge far in excess of this rate. Also make sure that you select the repayment date with caution – you need to absolutely make sure that the funds are available in your account on the day that you selected as your repayment date! Are There Alternatives To Payday Loan Since Payday Loan often come with very high fees and interest rate charges (even though it might not like this at first) it makes sense to use these as avenues of last resort. If you find yourself in a tight spot, it is definitely worth asking your bank or to extend your line of creditor or, even though you might find it humiliating, see whether your friends or families might be able to provide the loan at a cheaper rate. The one rule you should follow is to never borrow more than you know you can repay and never ever use one instant cash loan to pay off another loan – rather seek debt counseling or debt consolidation advice before falling into the debt trap.
Payday loans provide a much-needed service to millions of people. There are many times when short-term debts outrun the ability to pay. In times like this, a payday loan (a loan against a future paycheck) can provide the cash necessary to meet those needs.
This reviewed and ranked the best payday loans available today. We hope these reviews help you meet your short-term financial needs!
"2013 Payday Loan List"
Why Use an Online Payday Loan Service?
Finding yourself short on cash is a terrifying situation, especially when bills are due. No matter how you find yourself in this situation, short-term options are available to help you make it to your next paycheck. One such option is obtaining a cash advance from a payday loan service.
All of the best payday loan services we reviewed are respectable, honest institutions that provide a legitimate service to those who need a few extra dollars to make it through a rough patch. In this site, you'll find articles with payday loans advice and money tips, as well as comprehensive reviews and a side-by-side comparison to help you make an informed decision on which service is right for your short-term loan needs. We found that the best options for online payday loan lenders
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