Category Archives: Payday loans

How to Use a Quick Cash Loan to Get Through the Holidays

Quick cash loans have become a viable way to get extra cash for the holidays. In fact, quick cash loans are growing in popularity every month. With flexible repayment terms, low interest rates, and an easy approval process, they have become the preferred type of loan for small amounts of money.

Quick Cash Loan

Quick Cash Loan

  • Quick cash loans can be taken out with no credit check

The reason why quick cash loans have become so popular for getting through the holidays is because they can be taken out without a credit check. It’s not like the bank where the process is tedious and time consuming. In fact, quick cash loan providers don’t look at your credit at all. Even if you have bad credit or no credit in your name, you can still qualify for a loan. The approval process is based around whether or not you are currently employed and how much money you make at your job. Better yet, you can qualify for the loan even if you make less than $800 a month. It’s perfect for students and even adults who are working part-time.

  • Quick cash loans can be used for gifts, groceries, or debt!

You can use quick cash loans for just about anything and the company that issues you the loan shouldn’t even ask what it’s for. They provide you the cash and it’s your job to spend it wisely. This makes quick cash loans absolutely perfect for holiday shopping. You can use it to buy gifts for friends and family, groceries to help you feed your own family, or you can even use it to pay off debt. Quick cash loans provide financial support when you need it most!

  • Quick cash loans have industry low APR’s

If you do your research on quick cash loans, you’ll find that while they do have higher APR’s than traditional bank loans, the rates are actually fairly low. Quick loans are intended to be paid off within two to four weeks and because you will be paying off the loan so quickly, the APR won’t affect you much. APR stands for annual percentage rate. If your fast cash loan has an APR of about 120%, this is the amount you would accumulate in interest, over the course of an entire year. If it takes you just one month to pay back the loan, then the interest rate of your loan would be closer to 10%. Don’t believe the rumors that payday loans have crippling interest rates. The loans are actually very affordable if you’re able to stick to the repayment terms.

  • You can apply for a quick cash loan online

Most payday loan providers allow you to apply online. All that you will need to do is attach verification of your employment and approval should be issued within a few hours. Applying online is very simple and straightforward. Once you’ve found a company that you want to go with, filling out the application is easy. You’ll just need to answer some questions about who you are, how much cash you need, and where you work.

Author Bio: Frank Williams is an associate for a fast cash money lender website where he writes about how to save money and no need a quick cash loan.

What Part of the Payday Loan Contract Is Negotiable?

Payday loans often have specific terms that are negotiable. By reviewing these terms with your payday loan provider and letting them know what works for you and what doesn’t, you can make the loan much more affordable for yourself. With any payday loan, you definitely have to be careful with what you’re agreeing to. It’s a good idea to thoroughly evaluate the contract’s terms and ensure that you’re not agreeing to something that will put your finances in jeopardy. Below, you will find the most commonly negotiated payday loan contract terms.

Payday Loan Contract

Payday Loan Contract

  • 1 – The repayment terms

Repayment terms can be easily negotiated with a payday loan company. Payday loans are short-term financial assistance and you’re expected to pay back the loan in full, fairly quickly. Usually, the repayment terms specify that you must have it paid off within less than a month. If this doesn’t work for you, such as if your payments from work come at irregularly times, you can negotiate with the payday loan provider and extend the repayment terms. This is great if you just need an extra week or so to gather your finances. However, it also means that you’re going to be paying more interest. Remember that the interest rate of a payday loan company is determined by APR. APR stands for annual percentage rate and it’s the amount of interest you will accumulate over the course of a year. The longer it takes you to pay back the loan, the more interest the loan will accumulate.

  • 2 – The interest rate

Most payday loan companies have an interest rate that’s pre-determined and non-negotiable. However, if you explain why the interest rate isn’t going to work for you, they may have options available. Be sure to explain your situation thoroughly and employ the best negotiation skills you have. Haggling with a payday loan company is not going to be easy but if you’re determined to save some cash, it may just be a possibility.

  • 3 – The use of the loan

Most payday loan companies pay very little attention to what you are actually going to use the loan for. In fact, it’s fairly common for them not to even ask. If the provider you’re using does happen to ask, you might have to negotiate with them. Using personal finances for what you were originally going to use the loan for and then applying the loan toward a different expense is something you may have to consider.

Payday Loan

Payday Loan

  • 4 – The amount

Payday loan companies will always negotiate how much money they can give you. Generally, payday loans are issued in amounts of $100 to $1,000 but if you need more than this, they might be able to adjust the terms of the loan for you.

There are various other components to a payday loan contract that you may want to review and talk over with your provider. For instance, some loan companies have fines that will be charged to your loan if you don’t pay enough money within their specified time frames. If the repayment terms can’t be negotiated, then perhaps these fines can. You have to do everything in your power to ensure that the loan will work for you and will not be a burden to your finances.

Author Bio: Nick Beal works for a payday advance company where he writes article about predatory lenders and what to look out for.

Ins and Outs of Guaranteed Payday Loans

It’s quite common nowadays to hear about alternative payday loans. As almost everyone is having difficulty with money, quick loans from cash lenders are an obvious answer for such challenges. Read on to know more about these options.

payday-loans-uk

payday-loans-uk

  • What are guaranteed payday loans?

Guaranteed payday loans in UK means that you are assured to be provided the loan you are applying for. Such loan types are common because they really give instant solution to cash problems. And like any other lending institutions, providers of payday loans also have standard terms on interest rates and repayment. With these, you get to be assured that you are dealing with a legitimate lender.

  • What do I need to prepare?

In general, there are some requirements when obtaining guaranteed payday loans UK. These can be a combination of the following:

– Regular income or employment

Lenders need to be assured that you can pay back the loan in time. As such, only those with regular income or employment can be considered. Technically, lenders prefer applicants who have been with a regular employment for at least 9 weeks. In some cases, some guaranteed payday loan providers require a minimum income. Such rules are differ though for every lending institution.

– Proof of residency

As per UK laws, loan applicants should already be of legal age at the time of the loan. This gives lenders the guarantee that the applicant is already responsible enough. To further provide assurance, applicants are also required to submit proof of permanent residency in the country. Your valid passport usually compensate for this requirement.

– Valid savings or checking account

Quick loans transactions cannot be facilitated without a valid bank account where the money would be credited to. As fast payday loans can be processed in less than an hour, lenders require applicants to submit a bank account under the person’s name so they could easily deposit the loan.

payday-loans

payday-loans

  • Can I still qualify even if I have bad credit?

Some think that guaranteed payday loans UK are only for those who have excellent credit scores. This isn’t always the case. There are even companies that specialize in loans for people with poor credit standing.

Cash loans bad credit is a common type of service payday loan companies offer. There shouldn’t be any problem here as requirements are almost always the same with regular payday loans. You just have to choose cash loans bad credit types that offer manageable interest rates according to your financial standing.

Note also that both payday loans and cash loans bad credit do not affect your credit scores. So you can get simultaneous loans, provided you can pay them back, without worrying about negatively affecting your credit standing.

  • Is it possible to get payday loan discounts?

Yes. Lenders have discount programs for their borrowers. There are institutions that give discounts to applicants who issue post-dated checks for the repayment of their quick loans. Others even reduce interest rates if you pay back the loan within the nearest pay day. Lenders also have discounts for early payers. Loyalty and referral bonuses are also possible depending on the institution.

For more information regarding Payday loans visit:  http://en.wikipedia.org/wiki/Payday_loans_in_the_United_Kingdom

Advantages and disadvantages of Payday loans

Payday loans

Payday loans

It often gets hard to meet the unexpected daily expenses, medical bills, car repair bill when one is in the middle of a cash crunch. In such situations, many people consider paying these expenses by their credit cards or borrow money from their friends or relatives. Those who don’t have such options tend to ask themselves how to get the best online payday loans. Typically, payday loans act as an alternative and, sometimes, a last resort.

What is a payday loan? The payday loan or a cash advance loan is a short term, low amount, instant loan that can be transferred to your account on the same day. These loans often come with a very high interest rate and have to be paid back by next payday to avoid the rolling fees. Anyone can avail a payday loan starting from a hundred to a couple of thousand dollars.

How do you get a payday loan? There are more than ten thousand outlets in the US that advance payday loans. Anyone can apply for this loan very easily on the internet or on the phone. You will have to give your name, phone number, address, bank details and proof of employment and your payday loan will be electronically transferred to your bank account within 24 hours. Nowadays, there are many companies who are transferring payday loans within an hour to stay in the competition. Anyone with bad credit can also apply for these loans. Most companies will ask you to deposit a post dated check for the total amount of the loan principal and fees and it will be cashed on your next payday. The amount can be withdrawn from your checking account on your next payday.

While payday loans can solve a lot of temporary financial problems, it comes with a number of catches, due to which these types of loans are quite controversial. Consider taking these types of loans when all other options have failed and make sure that you pay back the full amount by your next payday. It has certain advantages and disadvantages discussed below.

Advantages of Payday Loans:

  • Payday loans are the fastest and most easily approved loans in today’s time
  • Payday loans can be availed online, over the phone or in person.
  • Payday loan companies do not do credit check while processing your payday loan application form. You must have a proof of employment or last month’s pay slip, apart from giving your bank account information.
  • Payday loan application forms are processed within 24 hours. There are some companies who can transfer the funds within a couple of hours to stay in the competition.

Disadvantages of Payday Loans:

  • Payday loans are extremely costly. There is a fee ranging from $15-$25 for every hundred dollars lent over a period of 14 days. So if you borrow $1000, you end up paying $250 towards the fees and the principal amount within half a month timeframe.
  • If you extend the repayment plan or are unable to pay back within the due date, payday loans become costlier. You end up paying half of the principal amount as interests, along with the fees and the principal amount, if the loan is extended for another 14 days. In case you go for multiple extensions, there are chances that you will fall under a huge debt trap.
  • Payday loan laws are regulated the attorney general’s office of the individual state. Some states allow a maximum of $400-500 only, but there are a few states who can lend you up to a couple of thousand dollars.