Every now and then, I think we all find ourselves in the position where, either your car suddenly needs repair, you find yourself with an emergency dentist bill, or you just need some fast cash to get you through to your next payday (For any number of reasons!). This is why payday loans can be a great source of getting the cash that you need quickly!
A Payday Loan is a short-term loan that is secured against your next paycheck. After applying (Usually online but some payday loan sites, see more, let you apply via phone), you borrow the amount that you need, choose the date of your next paycheck in which the loan payment will be deducted from, and collect your money! It’s that simple and can be a lifesaver in those situations like the ones mentioned above, when you need cash and need it now!
All you need to do is to type in search words such as, “Payday Loans,” or “Quick Cash” into any browser and you will find hundreds of different web sites that offer payday loans. Some will have statements such as,“Get approved up to $1000 in 2 minutes!” “Fast Approval! No faxing required!” “No Credit Check!” But before you register with or apply to any of these sites, do a little research first to find the one that meets your every need. Just as with any bank loan or credit card, some companies charge a much higher interest rate than others, which is the same with payday loans! (You will find that many of the payday loan companies require verification of your checking account by faxing them a copy of a check, so the loan payment can be deducted on the exact date applied for).
Some tips are: Make sure to find a payday loan that charges the best “Fee,” or “Interest Rate” on the amount you borrow, and one that allows you a fair amount of time in which to pay the loan back. If you need cash now, but don’t get paid for another three weeks, with some payday loans, the longer you take to make that payment might mean a much higher interest rate.
I am a single parent, and even though I have a full-time job, there are times when I don’t know what I would do without payday loans! The one that I have been using for the last five years, and which has gotten me out of a financial bind many times, is called My Cash Now. The reason I chose this particular one (And in researching the many payday loans out there you might find others that you feel are better suited to your needs), is because of their low fee ($13.95 to every $100 borrowed). The fee doesn’t go much higher if I need two weeks in which to pay back the loan, after applying for and paying back five payday loans you become a “Preferred Customer” and the interest rate is lowered, if you find you need more time in which to pay back the loan you can apply for an extension and only pay the finance fee, and they also offer a “Referral Program.” If you refer a friend and they successfully apply for and receive a payday loan, you receive a $100 bonus! With the economy being what it is today, and with so many people finding themselves needing cash quickly, what can be better than not only helping out a friend with a referral but getting rewarded for it besides!
Because there are so many scams out there, you might hear some negative feedback if you mention payday loans to friends or family, but as with everything else, you need to do your homework and educate yourself on the various payday loans available until you find the one that is perfect for your immediate needs. I don’t know what I would do without payday loans! To me, they can be a huge sigh of relief.