subject: How To Solve Your Short-term Financial Problems With A Payday Advance [print this page] Regardless of how lawmakers want to portray the people who use payday loans, the truth is that individuals who use payday advances are usually those who find themselves in a situation where a short-term financial problem arose.
Most individuals who obtain payday loans manage their monthly financial obligations well, but may find themselves in a financial pinch due to unforeseen circumstances. We all may find ourselves in a situation where a financial problem arises and we have no way of meeting that financial obligation. For some, the solution is usually to turn to credit cards. However, for many of us, credit cards either arent an alternative, or we simply choose not to use credit cards.
Easy Access to Quick Cash
A payday advance is a practical solution to many consumers short-term financial problems, as the money from a payday loan can be quickly accessed so that these financial problems can be resolved in a short period of time.
Payday advances are used by many people because of their convenience and practicality. For example, if you find yourself late on your rent payment and your landlord is threatening to evict you if you dont pay, you obviously need access to quick cash. Luckily, the entire process of obtaining a payday advance can take as little as a few hours from start to finish. From the moment you apply for the loan with the easy, online application until you receive the money as a direct deposit into your bank account, it can take as little as day or two, or even in just a few hours!
No Credit Check Involved
Many individuals also take advantage of payday advances because they can be obtained without dealing with a credit check. A payday loan is essentially an advance on your next paycheck; therefore, if you are employed with a steady job and meet the other loan requirements, you can be approved for a payday loan. In other words, your credit score does not play a part in the loan approval process.
Poor or No Credit Individuals Can Apply
Because payday advances require no credit check, they are often a convenient method for obtaining quick cash if you have either poor credit or no credit. Because of the credit sector meltdown of the past year, many individuals are simply not eligible for credit cards. In addition, many other individuals damaged their credit as a result of the poor economy. Payday advances are therefore incredibly convenient for individuals who may not have any other options regarding short-term loans.
Finally, payday advance loans are a great alternative to bank and credit card fees for short-term cash flow problems. Although payday advances come with their share of interest charges and fees, the fact of the matter is that many times bank and credit card fees outweigh the fees charged by payday lenders.
If you yourself in a difficult financial pinch and you need access to quick cash and a short-term loan, consider the advantages of a payday advance.
by: Janet Gaither
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