Payday loans provide short term cash loans to consumers who are in need of a fast loan to cover an unexpected expense. It could be a car repair, a mortgage or rent payment, doctors bill or any other emergent situation that arises. When uncertainties in life happen, seeking a payday advance online is the only option for many in a tough economy. Payday lenders are willing to lend to consumers that may have bad credit or no credit history. Here are some helpful answers to common questions about payday loans:
1. What exactly is a payday cash loan? A payday advance or payday loan is a small loan that one applies for either online or in a payday loan store. Loans are offered in amounts up to $1500. The loan is secured by an individuals regular source of income. The loan is usually paid back with a future paycheck or two. There are fees that will be added to the requested loan amount. The fees vary from lender to lender, but average between $15-$30 per $100 borrowed.
2. Can I find a reputable payday lender online? Yes, it is possible to find a lender that will offer a secure payday application so all personal information is secure. To check if you are on a secure page look for https in the web address. The "s" in the https is confirming that you are on a secure page.
3. How fast will the loan be available? It is best to apply early in the day, during normal business hours. If you use a website application, look for one that advertises that the loan will be made available in 1 hour. Keep loan amounts small, under $500, to get quicker and higher approval rates.
4. When do I pay my loan off? The terms of a payday advance will be explained by a representative over the phone. It is wise to ask a lot of questions regarding when the loan needs to be paid off and what the fees will be. Mark a calendar to note when the loan is due so there are no surprises. If by chance the loan is due and an individual does not have enough funds to cover the payment, call the lender to work out a payment arrangement. Be prepared for a service fee that may be charged for a loan extension.
5. Why should I avoid having multiple payday loans? It would not be a good financial decision to start relying heavily on payday loans to pay bills or expenses. The fees and service charges can and will add up. It is best to use payday loans as a last resort for an emergency that could not be solved any other way. Consider carefully the pros and cons of this type of loan before applying.
A payday lending website that will match individuals with a payday cash loan available in just 1 hour is http://www.NewFastCashAdvance.com visit now to apply securely online.
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