Guaranteed Payday Loans
If you need cash quickly and won't be getting paid for a week or two, there are quite a few options available to you. Many people turn to cash advance or payday loans to get the funds they need. Lenders can often give you the funds you need on the spot and this can save you late fees and other expenses.
If you are looking to take out an advance on your paycheck, first you'll need to decide on a lending source. Be aware that legislation on these loans varies from state to state in the USA. Some states have extremely relaxed legislation.
If you live in a state where there is little to no legislation, you'll want to be especially sure to read the fine print to make sure you are not paying more than necessary in fees to borrow the needed money. In most cases, the finance charges range anywhere from 15 to 30 percent of the amount borrowed.
Since the finance charges can be pretty hefty, be sure to borrow only what you need and only what you will be able to pay back on your next payday. If you fail to pay back the loan by the due date, usually two weeks from the date the loan was issued, the interest will continue to compound leaving you with a debt that may be near impossible to pay back. You will definitely want to be wise when determining the amount of money to borrow.
Most lenders that provide this type of loan will withdraw your payment from your bank account automatically. However, some will leave this up to you because they want to be able to charge you more and more interest over time. The annual rate you would pay in interest on this type of loan is astronomical.
If your payment check bounces, you're looking at a lot of extra fees and interest. Payday lenders usually make a lot of money on people that pay late and to avoid really paying out a lot, you need to make sure you pay back your loan before it's due.
If you decide to get this type of a loan, it should be fairly easy to find. There are payday loan stores on almost every corner these days. You can also find an online store that provides this type of loan without too much trouble. Be careful so that you can avoid paying too much interest and this loan may be quite useful.
If you are looking to take out an advance on your paycheck, first you'll need to decide on a lending source. Be aware that legislation on these loans varies from state to state in the USA. Some states have extremely relaxed legislation.
If you live in a state where there is little to no legislation, you'll want to be especially sure to read the fine print to make sure you are not paying more than necessary in fees to borrow the needed money. In most cases, the finance charges range anywhere from 15 to 30 percent of the amount borrowed.
Since the finance charges can be pretty hefty, be sure to borrow only what you need and only what you will be able to pay back on your next payday. If you fail to pay back the loan by the due date, usually two weeks from the date the loan was issued, the interest will continue to compound leaving you with a debt that may be near impossible to pay back. You will definitely want to be wise when determining the amount of money to borrow.
Most lenders that provide this type of loan will withdraw your payment from your bank account automatically. However, some will leave this up to you because they want to be able to charge you more and more interest over time. The annual rate you would pay in interest on this type of loan is astronomical.
If your payment check bounces, you're looking at a lot of extra fees and interest. Payday lenders usually make a lot of money on people that pay late and to avoid really paying out a lot, you need to make sure you pay back your loan before it's due.
If you decide to get this type of a loan, it should be fairly easy to find. There are payday loan stores on almost every corner these days. You can also find an online store that provides this type of loan without too much trouble. Be careful so that you can avoid paying too much interest and this loan may be quite useful.
About the Author:
Only use a guaranteed payday loan with extreme caution. Dave educates people on how to use personal loans to save themselves the extreme interest rates on other types of loans.
posted by Credit Counseling at
3:01 AM
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