 CASH ADVANCE
If you are in need of a cash advance loan...
Cash Advance
By Kelly Land, © 2005 - 2010, All rights reserved.
I truly understand what it means to not have enough cash. I've sweated bills for
as long as I can remember. At times, a cash advance loan was the only way to
make ends meet. Back when I needed that "help" - it was hard to find. There were
very few places other than banks around for these super short term loans.
Now, on every corner there's a pay day loan company offering it's services. The
most you could borrow from most of these cash advance companies is around $1500.
You'll have to verify a few things in order to secure your loan. I used my pay
stub - and I believe I had to prove I had a checking account. I believe I was
able to pick up the check the next day. Typically there are no credit checks -
which can help those that have hit a few financial stumbling blocks. I credit
score of 750 to 800 - lets face it.....that's a hard number to hit. We all have
blemishes in our finances (at least I know I do!)
But I've had a few folks tell me that now....online - you can actually have your
money put directly into your account within minutes once it's approved.
Incredible.
It all sounds easy....and wonderful. It certainly can help anyone in a dire
situation. But it's not for "mad" money or fun money. This loan is a serious
commitment - and you will have to pay it back in a very short term time period.
The interest rate on these nifty loans? Well.....it can range from 15% to 30%!!
That's STEEP!
To me, this type of loan is a last resort. And I do mean LAST resort. But it
can ease your finances if you find yourself in an extremely rough patch with
nowhere else to go.
Like I said earlier, cash advance or payday type loans have been on the boom the
last few years. They are
certainly a fast solution to when you're in a money crunch.
Typically these loans are secure and discreet - which is a concern with many. I
certainly didn't want everyone knowing that I was getting a loan. (Now I've told
the world in this article....but that's ok - it was long ago - I've learned to
budget since then.)
My friend Kathy just found herself in the middle of a divorce and needed cash to
tide her over...her take...
"....Many reputable companies can provide the cash you need, and most do not
require a credit check. Approval time can be as short as just minutes. My loan
was for $300 and took less than 20 minutes from the time I walked in to the time
I was approved. The money was deposited into my checking account the next day
because I had applied for my loan before 2:00PM. Companies may vary on their
procedures regarding this..."
With the high fees and interest....again... this type of
loan should only be used in dire circumstance. Think groceries, medicine,
electricity.... not clothes, shoes or lunches with friends. It's just not a wise
trade off unless you REALLY need the money.
Typically the requirements are:
-No bounced checks within the last 30 days
-An income of $1000 per month or more (gross)
-A checking account that has been opened 30 days or more
Being short on funds when you have sick kids or car repairs can be a nightmare. I
KNOW, I really do. This option is for emergency situations, and that is why I
talk about it as a method of financing.
Just because some of us make less than a desirable wage for whatever reason, and
because life can get sticky and hellish at times --it's nice to know that there
are options. Just make sure it's a situation that is SHORT TERM. Do not do this
type of loan more than once if at all. Keep it for a LOW amount that you know
you can pay back.
Again - I don't encourage this type of loan on a whim. Know all your options,
and do your best to avoid any type of financing if you can. But in that pinch
you can avoid greater turmoil in some instances with a pay day loan.
The best thing to do is to avoid having to use a service like this. It's better
to work on a budget and curb all unnecessary spending. No gourmet coffees and
bring your lunch and snacks to work. Try to avoid repetitive monthly
expenditures like credit card payments and frills like cable if at all possible.
Instead of a contract for a cell phone that locks you in for 2 years--try a
pay-as-you-go phone if you have to have one.
ADDITIONAL CASH ADVANCE PAYDAY LOAN INFORMATION
Cash Advance Information for
Student Loan Consolidation
Consolidate student loan debt and get that monkey off your back!
http://www.moneymakingmommy.com/Student-Loan-Consolidation/index.htm
Home Equity Loans and Home Equity Lines of Credit
Is this the right path for you and your current debt?
www.moneymakingmommy.com/Home-Equity-Loan/index.htm
Link:
5 Steps to Change Any Habit
Link:
Develop Fiscal Motivation
Link:
Quicken Debt Reduction Planner
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