Posts Tagged ‘Payday Loans’
Tuesday, February 3rd, 2009
Everybody needs money to survive. Some people have all the money they need and then some, but others need a little extra cash just to get by day to day. With the sub-prime morgage crisis, banks are tightening all their loan requirements. The size of loans is not regulated by the government, that decision is made by the lenders after evaluating whether the borrower is able to repay interest and principal repayments. In the past a bank would grant a loan based on 30 percent of the applicants gross income. Now checks and balances are done to determine loan amount. The consumer has to disclose all of their credit obligations and give the bank permission to check account statements and credit bureau records. If you have existing large credit agreements, such as car loans, and credit cards, or even insurance policies, utility bills, or student loans you won’t qualify for much, even if you have a high income. Loans are not easy to come by now a days.
Payday loans however are different; these loans are secured loans, so there aren’t harsh restrictions in place that will prevent you from getting the cash you need, when you need it. You can get a payday loan cash advance in just 24 hours, and no credit check!
All that most payday loan lenders will require of you is this:
• A Drivers License or state issued photo ID
• Your Bank Statement and
• Proof of Income
Payday loans are a great option if you have bad credit or just need cash fast. Contact your local payday loan lender to learn more.
Tags: bad credit loan, cash advance loan, fast cash loan, payday loan, Payday Loans, personal loan, same day cash loan
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Monday, November 10th, 2008
Every person on the globe possesses the requirement for money and what it represents. It is unfortunate that many people need help financially, especially when unexpected emergencies occur. When the funds we need aren’t available to us in our time of need, we turn to the alternative: borrowing. Luckily, many are fortunate enough to have relatives or close friends that may be willing to lend cash you cash when you need it. However, because most people have tight budgets in which most of their money is spoken for, a sudden change in that budget may cause your friend or family member that is lending you money to be put in a financial bind too. To prevent imposing on your friends and family, another alternative for borrowing money is going to a financial institution and applying for a loan.
A paycheck advance is one kind of loan that many people use as a personal loan. A payday advance is a small short-term loan that is designed to cover the borrowers expenses until his or her next paycheck. This type of loan is and economical choice that can be beneficial for those in need of money right now.
Over the course of history of payday loans, critics have spread many negative myths about paycheck loans. Here are a few:
Payday lenders take advantage of low income families and minorities
FALSE: All payday loan borrowers possess a steady income and have active bank accounts. These are requirements for payday advance approval. The majority of payday loan customers’ incomes range from $25,000 to $50,000 annually. This is the American middle class. 94% of payday borrowers have high school diploma or better with 56% having some college or a degree.
Payday loans are extremely expensive and have ballooned interest rates
FALSE: Paycheck loans are two-week loans, they are not annual. It is typical for lenders to charge $15 for every $100 borrowed, this is equal to 15% over the two-week loan period. To say that interest rates are 400% APR (annual percent yield) is irrelevant. In order to reach a triple digit interest rate is if the loan was kept for an entire year. This would require the loan being renewed more than 26 times. Most states don’t even allow any rollovers. In states that do permit rollovers the Community Financial Services Association (CFSA) limits renewals to 4 or less if the state limit is lower.
When you need cash right now payday loans are great option to consider if your needs are short term.
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Monday, November 3rd, 2008
You may have heard the term signature loan used when talking about payday loans. This is because a signature loan is, as the name states, a loan that can be acquired with only your signature, no collateral is required. Paycheck loans are very similar in that regard. Payday loans are a fast and effective way to get a small loan without the hassle of a credit check. Traditional loans often require lots of paperwork, with little cash in return.
Your payday lender can deposit your loan amount straight into your checking account with only a few pieces of documentation. When applying for a paycheck advance loan you give the lender your checking account number and permission to withdraw the amount you borrowed plus interest in about two weeks. After 2 weeks, you might be provided with the choice to renew your loan and extend the borrowing term. However you can only carry one outstanding payday loan at a time. This prevents the borrower from getting in over their heads.
A payday or signature loan can be used for any reason at almost anytime. Payday loans are a very valuable resource when it comes to controlling emergency situations and managing unexpected financial disruptions.
Payday loans, whether they are referred to as cash advances, paycheck advances, payday advances, signature loans, or paycheck loans, have been around for a many years. Recently lenders are becoming more and more competitive, which is great for the borrower. Consumers have the freedom to select a company they feel comfortable with, that offers good interest rates, fantastic customer service and puts money in their pocket where they most need it. When the consumer chooses when and where they want to get their loan they are going to maintain the upper hand and stay in control of their financial decisions.
Tags: bank account, banks, cash advance, checking account, direct deposit, easy application, emegency money, emergency cash, fast cahs, fast money, interest rates, lender, lenders, little paperwork, loan application, loan term, no credit check, no faxing, paycheck advance, paycheck loan, paycheck loans, payday advance, payday lenders, payday loan, Payday Loans, quick cash, signature loan, signature loans, traditional banks
Posted in Payday Loans, Personal loans, bad credit, bad credit, credit, credit checks | No Comments »
Wednesday, October 15th, 2008
We got our slingbox working last night, unfortunately, the image quality is really poor. It’s really unacceptable. The upload speeds at my parents house are less than 500kbps, when 1500kbps is what we want. They are supposed to have speeds up to 1000kbps, but they are not even close, so even if they upgraded their interenet, it still wouldn’t guartee a better picture.
My roommate wants to go with AT&T Uverse, but it’s going to be +$70/month for what we want. That just seem like soo much money. I don’t know what to do.
At least today is payday, yay! Even if today isn’t your payday, you can get paid today too.
Tags: cable bills, internet upload speeds, payday, Payday Loans, payday today, slingbox image quality, television
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Monday, October 13th, 2008
…Or Canadian Thanksgiving if you prefer.
Today I am thankful that our Slingcatcher was delivered this morning before work. We now have all the components of our new television solution. We’re just having some trouble setting up my parent’s network to allow for remote viewing. I can’t wait to see it in action.
If any of you are interested in a Slingbox, use the link below to save some cash.
Special ‘friends only’ offer: Save up to $30 on Slingbox
In other news, my roommate got his credit card this weekend. The interest rate is over 20%, yikes! Not something you’d want to carry a balance on, good thing he wasn’t planning on it.
No matter how much the world changes, some things will always stay constant. There will always be a need for cash when unexpected expenses come along, which always seem to come along at just the wrong time. Today you can be thankful for the evolution of payday advance loans over the last decade, providing a quick solution that is a hassle-free personal loan.
Your finances are your business, and with paycheck loans available online now, there’s no need to trouble your friends and family. Paycheck advances are a simple solution to an age-old problem. Once you decide an online payday loan is right for you, you’ll have to choose the right lender. Different websites will offer different interest rates, which are posted to help you make your decision. Terms and conditions should be considered as well in addition to lending rates. Look for a secure website that will protect your personal information. A good lender should be up front about their policies, and willing to answer any questions you may have.
While there is some disagreement over the “high” interest rates on payday loans, however these rates similar to what traditional banks usually charge for a small dollar transaction. For example, ATM fees are normally $1.50 per $100 transaction and insufficient funds fees for a $100 bounced check can be over 8% APR. Just about any lender is going to charge high interest rates on short-term transactions. Arthur B. Kennickell, a Federal Reserve Bank economist, says, “these finance companies are picking up the slack left from the savings and loans, says it is part of the continuing restructuring of the industry.”
When you are shopping for a loan, keep in mind that loan repayment should be as easy as obtaining the loan. Get all the necessary information up front, before you receive a loan. Generally, the loan amount and interest is automatically withdrawn from your bank by the lender on your next payday. Qualifying is easy, any employed person can be approved for this type of loan. Additionally, no credit checks are performed and most applicants can be approved instantly. What are you waiting for?
Tags: atm fees, bounced checks, coupon, credit approval, credit cards, interest rate, interest rates, loan application, loan applications, loan repayment, no credit check, online lenders, online lending, online payday loan, payback, paycheck advance, paycheck loans, payday advance, Payday Loans, personal loan, slingbox, slingbox discount code, slingbox referral, traditional banks
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Wednesday, October 8th, 2008
There are times in life that cash is needed for emergencies or other things that just can’t wait. Obtaining a payday loan is one common solution for getting the money you need now. Payday loans are a type of personal loans, and are also known as paycheck loans or cash advances. A personal loan is a loan that offers credit to the consumer and is intended for personal use. This type of loan is most often unsecured and is based on the integrity of the borrower and their ability to pay. Payday loans are defined specifically as a paycheck advance or payday advance; they are small, short-term loans that are intended to cover the borrower’s expenses until their next payday.
One of the biggest advantages of payday loans is that bad credit will not prevent loan application approval. The application process for a payday loan is as follows:
Filling Out A Payday Loan Application
The application for a payday loan includes personal identification information and information for references. A valid government issued ID, bank statement, and pay stub are required to complete the process. The lender then cross checks all your information to verify each item has the same address. References are used to verify your address and home phone number.
The lender will also call your place of employment to verify that you are indeed employed there. The information of a spouse or co-applicant (if you have one) will also be verified.
Application strength is determined based on length of current residency and employment. If the address on your ID matches your current address and you have lived at this loc
ation for a good while, this is considered by lenders to be a strong qualifying factor. Also, if you have been working for the same employer for an extensive amount of time, this makes for a stronger application. A home phone number and multiple references will also strengthen your application.
It is important to keep the above information in mind when applying for a paycheck loan. Having this knowledge and being prepared with all of your information will make the application process quicker and easier. The information provided above is a simple list of the things that are generally considered when an application is evaluated by a payday lender.
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Monday, October 6th, 2008
We STIIIIILLLL don’t have TV.
We throw TVs!
The installer for Dish could only get a signal from the HD satellite, and the channels really weren’t what we wanted. It wasn’t worth the price. Aside from that, there was no place to ground the satellite, so if it got struck by lightning our TV would have gotten fried.
But, I have another new plan. We’re going to get a Slingbox to leave at my parents’ house which will “sling” their TV to us over the internet. We’ll also be getting a Slingcatcher for our apartment (so we can watch it on our TV instead of the computer), and an HD DVR for my parents’ house. It’ll be expensive up front, but after that we don’t have to pay anything. If you divide the cost over 24 months, which is what we were going to sign a contract for with satellite, it ends up being much cheaper. This plan shouldn’t take too long to implement either. However there are some things that are slowing us down. The DirecTV HD DVR has to connect to 2 cables coming in from the satellite, which means a professional installer has to come out and add some more connections to the dish and run extra cables. Also, the Slingbox we want isn’t in stores near us, so we have to order it and wait for it to be shipped. Then, the Slingcatcher isn’t even out yet… though it should be shipping very very soon. I wish I didn’t have to pay for shipping.
I really don’t foresee using my credit card, even when a big surprise purchase like this comes up. If things do get tight I have an overdraft line of credit on one of my checking accounts that I can use. So, I’m thinking I might do that balance transfer, it’ll save me a few hundred bucks in interest. I’m just a little worried about what happens after the year is up. I need to do some math. I wonder what is best for my credit score. While I’m at it, it would be interesting to compare the cost of using my overdraft line of credit versus getting a payday loan.
My roommate also applied for a credit card last week, I wonder how long it will take for him to hear back on his application.
Tags: bad credit, building credit, checking account, credit cards, credit line, credit score, DVR, HD TV, interest rates, monthly payments, overdraft credit, Payday Loans, Satellite, slingbox, television, TV, upfront expense
Posted in Payday Loans, Personal loans, Renting, Title Loans, credit, saving money | No Comments »
Monday, September 22nd, 2008
Saving money can be tough in today’s world of constant spending. It is very easy to spend small amounts of money every day and have no idea where it all went just a week later. So here are some pointers on ways to keep track of you spending:
For many of us, shopping has become a daily activity. Everybody has certain purchases that are necessary. Trying to do all your shopping in one trip is a good way to not only cut back on spending, but can also reduce your fuel usage. Studies show that most people buy things they need when they shop in bulk and tend to not spend much money on frivolous items. The larger the bill we have to pay is, the more we focus on what we really need. When shopping is spread out we only see the small amount on the receipt and it is easier to think we can get away with buying extra things. It’s these smaller shopping trips that add up to become more costly then the one large trip for necessary items.
It also helps to prepare a list before you go shopping. Things like this are all a part of financial planning. Plan ahead before you shopping, try to stick to only buying items on your list. Careful spending is the best kind of spending.
Another trick I’ve come up with is to try to cancel a service you really have no interest in canceling. When I called to cancel my TiVo service I was offered a reduced rate. When I still wanted to cancel, I was offered a few months free service. I was also offered a reduced rate when I called to cancel a free trial of All State Roadside Assistance.
Should a financial emergency arise, you might not be able to pull from your savings. If this is the case, consider a payday loan as an alternative way to get some cash. These loans are like a cash advance or paycheck advance. The borrower takes out a loan and pays back the money on their next payday. Payday loans offer a quick turn around time for receiving cash and an easy application process, perfect for when you need fast cash but don’t have liquid savings.
Contact your local payday loan lender for more information and rates, or check out WhichPaydayLoan.com to compare the best online payday loan websites.
Tags: best payday loans, cash advances, compare payday loans, financial emergency, money saving tips, money saving tricks, paycheck advances, paycheck loans, payday advances, payday loan, payday loan websites, Payday Loans, saving money, savings, shopping lists, shopping strategy, smart spending, spending money
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Wednesday, August 27th, 2008
So after doing some research, I’m really having second thoughts on the credit card idea. My roommate is okay with getting a card of his own and putting me as an authorized user (which makes me legally not responsible for any charges). However, his nonexistent credit means he won’t be able to get great rates. This isn’t a real big deal since the plan is to pay the balance every month, but reading the fine print for a few cards I got scared about “hidden” fees. Even if we got a card with no annual fee it sounds like there will still be fees for using the card. Phrases such as “grace period” “daily balance” and “minimum finance charge” got me thinking, one way or another, we will probably have to pay for the convenience of getting all of our shared expenses on one credit card bill. I’m not sure I’d even want to see that number anyway. After all, one of the tips I’ve mentioned in an earlier post is, paying off your debt using multiple smaller payments can be easier because it feels like less of an expense, even though it adds up to be more. Which is not to mention, depending on how your interest is applied, you might even save some money on interest.
At this point I’ve lost interest in the credit card idea… haha, no pun intended. If my roommate wants to look into it he can do it himself. If we are ever in a situation where we need money we don’t have, a payday loan seems like a much simpler option; we could even apply online through a secure website like USAPaydayLenders.com and have money the next day.
Tags: annual fees, bill management, bills, cash flow, credit card fees, credit cards, easy money, interest, interest rates, Payday Loans, paying bills
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Wednesday, July 30th, 2008
With the growing popularity of online banking, many types of online lending have moved to the forefront of today’s lending industry. These online instant loans require very little paperwork. You can qualify whether you are paid hourly or are on salary; whatever kind of work you may do, or what your credit score might be. Normally, the following documents are all you need to get a loan:
• A drivers license or government issued ID
• A current checking account bank statement
• Proof of income
Statistics show the average customer for payday loans is just like you and me. Georgetown’s Credit Research Center recently analyzed payday loan customers and discovered that 94% of payday loan customers have earned at least a high school diploma. Most customers are married and have children. Every payday loan customer has a steady job and a checking account. These loans work for normal people, not just who you might think the stereotypical customer is.
Online payday loans are an easy way to get from one paycheck to the next; a great short-term solution when unexpected expenses come your way. Within a maximum for 24 hours payments are deposited to your account, sometimes payments are available even sooner. When loan reaches the end of its term the withdrawal is taken from the same account.
These simple and flexible loans really benefit the consumer. If the lender can not be repaid due to insufficient funds, you can work with the lender to resolve the issue. The customer is responsible for holding up their end of the deal. However, if terms of the loan are stuck to, the convenience of these loans makes them a smart choice.
Read the Credit Research Center’s report: Payday Advance Credit in America: An Analysis of Customer Demand (PDF format)
See what payday loan customers are saying about USAPaydayLenders.com.
Tags: borrower, borrowers, borrowing money, Credit research center, employment, fash cash, internet loans, online cash advance, online lenders, online payday loan, pay stub, payback, paycheck advance, payday advance, payday loan, payday loan customers, Payday Loans, repay, repayment, short-term loan, statistics
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