Tag Archive | "Payday Loans"

How to Get Cheap Payday Loans

Cheap Payday Loans

Cheap Payday Loans

A loan is a debt instrument is nothing but a transaction that takes place between a borrower and a lender, where the rate of interest is fixed. Such loans can be used either for the commercial purposes or even for the personal purposes. They are available for various periods of time and at the same time the interest rate on them vary depending on the time period for which they are taken. In some places these loans are also known as “payday loans” “with a high interest rate riding on them along with other fees, in comparison with other kinds of loans like the long term loans. Below is the application process for such “payday loans” is provided with;

  • The primary purpose behind applying for such loans is that the term for such loans is small.

  • The person applying for the loan needs to have an ID proof, with an address proof.

  • One needs to provide with their current employment proof which can be either their present salary slip or any other such verification.

  • The borrower of such loan might be asked to provide with any post-dated cheque which would be kept in lieu of such a loan. These cheques are kept for the security purposes.

In the recent past this whole process of applying for “payday loans” has even started on the internet and there is a full online process for the same which has started. This online process has made the process very easy. Such loans are taken for the emergency purposes like when someone needs some cash, or even when someone is planning to take a vacation or even when someone is planning to refurnish or refurbish their apartment. There are websites like DirectLenderPaydayLoans.com that can use for getting these loans.

Such loans are normally given by small or medium sized loan providers which can either small pawn shops or even the check cashers. Such loans have gone down tremendously over the last few years but then this is still quite a very big industry.

These kinds of loans differ a lot from the other main kind of loan (the long term loans) as firstly; they are taken for short term purpose and are mainly to fulfill the demand the sudden need for cash while the long term loans are taken for a long term and are taken to fulfill some big fund requirement, secondly; the rate of interest on these “payday loans” is very high as compared with the long term loans which has comparatively low interest rates, thirdly; the loan amount in case of “payday loans” is small when compared with the long term loans where the loan amount is quite big.

These loans are pretty easy to apply for and even the process of giving out these loans is not very difficult. At the same time there is not much paperwork involved in this kind of loan. But then at the same time, one should stay away from such loans as one should stay away from such a debt trap.


How to Get Cheap Payday Loans

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Payday Loans Are Good Emergency Credit Option

Payday Loans

Medical emergencies are so uncalled for. They touch upon our life without the slightest warning. We have to deal with them at any cost. But very often we find ourselves financially in a deep soup. So what do you do then? You have to depend on Payday loans as you can get them quickly. The money helps you to deal with the medical exigency at the earliest no doubt but you should remember certain aspects before taking a Payday Loan.

Payday Loans – Things to consider

First of all you must consider whether you have the capacity to pay the loan back. If you are unable, then payday loan may not be a very good option for you. Then you must contact your creditors to find out if they have a better payment option on a lower rate of interest. If you are capable of paying back the loan, then this is the best option as you can get them quickly. Check for other options. A savings account can be useful as there you will not be baring any burden of interest. You can deal with the current problem from the money you have saved without having to worry of the mounting interest.

Interest for Payday loan is as high as 30 percent. If you have a credit card, check it with your credit card company. Sometimes credit cards have less burden of interest to be borne. So check the option of using the credit card before taking the loan. But if you do not have a credit card then Payday loan is the best credit option open to you.

Payday Loans – Who can avail?

You can avail a payday loan, if you are at least 18 years of age, have a steady income, have been employed for the last 12 months and have an income of at least 1000$.You can avail a loan of 100$ to1000$ or more depending on your income level. A parallel checking account is required as you can get them quickly deposited in your account. The company can also automatically receive the payback directly. The payback period is between 15 and 30 days. In case you are unable to pay the money back within this time, you can get an extended tenure after a payment of a fee. This option of extension of tenure is not available for a second time.

To know about Payday loan companies, you can search the internet. There are several Payday Company which offers you a lone by filling up a form. It may sound very easy and simple. But it is better to check all the options before deciding on a payday loan. The tenure for returning the loan is short and the amount not very easy to bear. You end up paying an outrageous amount. Do not forget to check in with your friends and family for a loan before deciding on for a payday loan. However at the time of emergency if you have no other option of acquiring a loan Payday loan is the only solution as you can get them quickly.

Payday Loans Are Good Emergency Credit Option

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Payday loan: unsecured personal loan

Payday Loans

Payday Loans

A payday loan, also known as a cash advance, is an unsecured type of personal loan which needs to be repaid on the next payday of the borrower, plus the due fee. The requirements in order to be eligible to apply for such a loan include being a US citizen and having been employed for the last three months.

The advantages of a payday loan include the following:

– It provides instant, on-hand cash, in less than one hour after the online application for a loan, not tomorrow, not the next week, but exactly when the borrower needs it.
– It helps the borrower to take care of unexpected expenses, to deal hands-on with unforeseen circumstances and to overcome his rainy days with his head held high.
– The process of applying for such a loan is easy, safe and very quick, taking less than 2 minutes and typically in the comfort of his own home.
– This type of loan does not allow interest compounding and most states regulate the annual percentage rate (APR) in order to prevent usury, which in turn benefits the borrower because the fees are placed in the affordable ranges.
– This loan does not take into account the credit history or credit score of the borrower; hence, even people with bad or poor credit history can apply for a payday loan, as long as they are currently employed. Although this is an unsecured loan, the lender does not ask or take an interest in your credit rating whatsoever.
– After the loan has been approved, the extra cash you cannot do without are promptly wired into your bank account in less than one hour, in order to help you cope with your personal financial problems and ease your troubles.
– It can help you stay out of debt, in case you have to make the due monthly payments on utility bills or on other types of loans from banks.
The disadvantages of a payday loan include:
– It is a short-term loan, typically for about two weeks and you have to pay it off when you get your next paycheck, together with the due fee. It is not meant to provide you cash for longer periods of time.
-Because this loan is unsecured, the lender has no certainty that the borrower will repay his loan in time. Precisely because this loan carries a huge risk for the lender like QuickCredit, the interest rates can be pretty high when compared to those from banks, but then again, the banks do not lend money to anyone.

Upon a simple math, the advantages of a payday loan exceed the disadvantages and hence, this type of loan is the most convenient and fast way of getting the cash you need between paychecks, in order to make ends meet and to sleep peacefully. Click here to find out more.


Payday loan: unsecured personal loan



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[Guest Post] Payday loans – What you should know if you are in UK?


Payday loans

Payday loans

The underlying concept of payday loans, regardless of whether it is in USA or UK is the same except that in UK, you may have to go through credit checks. Yes, there are many payday loan lenders in the United Kingdom that will ask or your credit rating and will extend the loan amount depending on the same. Since these loans do not require any documentation unless you are applying from stores, these are also referred to as faxless loans, where you will not have to fax any document to the lender. When it comes to the maximum amount you can borrow, there is definitely a range beyond which you cannot expect the loan amount to exceed. This range is between 100 and 1000.

When you apply for payday loans, there is a set of information that you must provide to the payday loan provider. This usually includes your full name with correct spelling and no errors, your contact address, email address, proof of age, your employment details, and the like. As far as the employment details are concerned, you will have to provide information, whether or not it is a full time job you are involved in or part time job you are into. Moreover, there are few instant cash providers that will require you to have a certain level of income so that you can qualify for the same.

Shopping for online payday loans in UK

Applying for payday loans on the World Wide Web usually attracts higher fees as compared to when you apply from stores. Roughly, in case of online payday loans, the fees you have to shell out for these loans is between 25 and 30/100. The same figure nosedives between 13 and 18/100 for payday loans that you avail from stores. The reason is simple. For loans obtained from stores, the chances of rejection are high, which is, however, less in the case of online payday loans in UK.

Prior to taking out loans in the UK, make sure you ascertain the amount you actually need and whether or not you will be able to return the same.  Take out only as much as you can return. A failure to do so will perhaps land you in severe trouble as you cannot imagine where the rate of interest can actually take the original loan amount to!

So, it is always desirable to exercise a little wisdom when it comes to these payday loans, regardless of whether you reside in United States or in United Kingdom.

Thanks to James Hargreeves for his submission. James is the Managing Director and General Counsel of http://www.PaydayNinja.net, a site that provides payday loans to consumers and provides up to the minute industry news.

Payday loans – What you should know if you are in UK?

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The Benefits of Payday Loans for People with Bad Credit

The Benefits of Payday Loans for People with Bad Credit

The Benefits of Payday Loans for People with Bad Credit


Think of a day when an emergency has just emerged and the bank account is bordering zero and a negative figure and all that can help is a payday loan. Furthermore, even if borrowing is the only option, think about how disastrous it would be to keep the obligation waiting. That is why a payday loan has to be express; in terms of application and the approval. It is rare to forecast emergencies to the point that someone can even quantify them in terms of money that would be needed to survive them. That is why it is good to have a lender of last resorts as a backup.

Payday loans should be considered short term, meaning that these are loans people take hoping to pay back in a week or within 2 months. As such, it would be absurd to classify them as expensive since they do not fall in the same league as other loan facilities like mortgages which can span years and decades. Furthermore, whenever a bank has declined two or more applications for a loan, what is so awkward about taking a loan for 2 weeks and paying it off the next pay check? That brings to light another important advantage of payday loans because the lenders of this type of financial product are less concerned about credit history.

To apply, all that someone needs to prove is that he is employed and has a checking account that registers frequent deposits from the employer. Of course the person has to be an adult and has to register only under his name, meaning that a minor cannot take payday loans under his father’s name. Everything from the application to the approval is quick and effortless. The process of paying back the loan is also greatly simplified. What that means is that when the date for salary payments has come, the lender will automatically deduct the agreed on figure from the borrower’s account so that there are less worries about another process. Payday loans remain convenient and discreet for that reason.

Of much advantage to each borrower is that the automatic payday loans repayment setup means that a prompt loan repayment record is built through the years. Someone who had a greatly injured credit report will find this idea interesting since it is a less cumbersome way of borrowing while having poor scores and still extra leeway to get better credit ratings. Payday loans are the way to go if someone has crippling credit card debt and would be too shy to walk to a banking institution to apply for yet another personal loan. First of all, banks give raw deals to people who score poorly in their credit report.

If anyone is undergoing any financial headwinds, keep payday loans as an open avenue to footing emergency bills. There is very little chance of getting other lenders who will offer a same hour financing without calling for collateral. Even a very close friend will not always have the amount of money payday loans offer during an emergency.



The Benefits of Payday Loans for People with Bad Credit

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