Payday Loans and Fast Cash Guide

What To Do When You Need Money Fast For Rent

When you need money fast for rent your back is truly against the wall.  Either you need to come up with some cash or get kicked out of your house.  I know it probably won’t make you feel better, but I’ve been there plenty of times as well, so in this post I want to offer as much help as I can.  We’ll cover everything from borrowing money to earning it.

Rather than dive into a full blown essay on the different ways  to get cash fast, I’ll use this as a resource to other parts of the site that cover each topic in more detail.  This way you can bounce around as needed very quickly.

Different Types Of Fast Cash Loans

The amount of money you need and your job situation will determine which route you take here.

If you have a steady job, a checking account, and don’t need more than a thousand bucks, check out our Ultimate Guide To Payday Loans.  There you will find everything from how to save money on the loan to how to prevent getting ripped off.

Should you meet those same requirements above and need more cash, check out our page on installment loans.  These are very similar to payday loans, except you’re able to borrow more cash and have a longer time to pay it back.

For those that have a paid off car and are willing to use it as the loan’s collateral, check out the post on title loans.  These are secured loans, and if you have a nice ride you might be able to get a very large loan.  The biggest risk is that if you don’t pay it back the lender is going to repossess your car.

We usually don’t recommend borrowing from a family member unless you absolutely have to.  I would rather wreck my credit score than my relationship with someone who is close to me!

What About Earning Money?

If you have some stuff laying around your house that could be worth some money and are looking to get rid of it, check out our post on pawn shops.  There’s a lot of good stuff in there, especially on how to figure out what a pawn shop will buy.

A couple of years ago we wrote a post called 8 Easy Ways To Make Fast Cash.  It’s pretty thorough and covers a lot of things that most people don’t normally think of.  You might not be able to make enough to pay rent, but it will definitely put some extra coin in your pocket.

How To Make Sure This Doesn’t Happen Again

I know right now you probably don’t give a damn about preventing this from happening again, you just want to make sure you have a roof over your head.  Bookmark this post and come back once this mess has passed!

Being broke allows you to take a hard look at your finances.  Nobody cares about it when things are going good, so take some time now and figure out where things are going wrong.  The obvious problem is that more money is going out than is coming in.  This means you can make more, spend less, or (preferably) both.

I could try and list some ways to save money, but this article from the site Dumb Little Man has done it way better than I ever could.

Making more money can happen in a lot of ways.  The link a few paragraphs above about making fast cash has some good ideas in it.  If you don’t want to take the time to do that kind of stuff maybe get a second job or work OT at your current gig?  Making money is all about being resourceful, and there are a million ways to do it.

What You Can Do To Get A $1500 Loan Today, Or Maybe Tomorrow

There are a couple of ways to go about getting a $1500 loan today, and the route that you choose really depends on what your credit score is like.  Due to the large amount that you need, payday loans are pretty much out of the question.  Most states simply won’t let you borrow that much from a payday lender at any time, and the states that do allow this will require you to get loans from multiple companies which is just way too risky to recommend.

$1500 Loans For People With Bad Credit

Like I said above, payday loans are pretty much out of the question, but that doesn’t mean that payday lenders can be helpful here.  Many of them will offer something called an installment loan that is essentially a large payday loan that can be paid back over several months.  Not every company is going to offer these, but with a few phone calls you will likely find someone who can help. If you truly need the cash today, go to your local lender, do not apply online.

If you truly need the cash today, go to your local lender, do not apply online.  Online lenders usually can’t get the cash to you the same day

Online lenders usually can’t get the cash to you the same day, instead they deposit it into your checking account which likely won’t show up in your account until the next business day.

If you’re the patient type and can wait until the next business day you can apply online.  Lenders like 100 Day Loans and Great Plains Lending offer online installment loans that are extremely easy to qualify for.

Keep in mind that many of the requirements for installment loans are the same as payday loans.  You need to have a steady job, a checking account, and meet the lender’s income requirements.  Since these loans are larger the lender may check your credit, but don’t fret, they lend to people with bad credit.

An alternative to all of this is title loans.  These are secured loans that use your paid off car as the loan’s collateral.  Title loan lenders are very fast, but you do have to take your car to them to get it inspected and appraised.  Borrowing $1500 or more is very easy, and most loans start around this amount and go up.  The more your ride is worth, the more you’re going to be able to borrow.  There is also more flexibility in payment schedules with these lenders.  It’s likely that they will offer you at least a few months to pay it back, but some will go all the way up to several years.

$1500 Loans With Good To Decent Credit

If you have at least a decent credit score, jump in your car, public transit, bike, moped or whatever and head down to your local bank or credit union.  Banks don’t normally like to make small loans, but most will go to $1500.  You’re going to get the best rates here, but it’s probably not the fastest route to take.  If you need cash today and choose this route you may be put off by the fact that they’re going to take at least a business day to process everything.  Just remember that the incredible amount of money you’re going to save in interest offsets the extra day of waiting!

Any Alternatives?

There are always alternatives!  Do you have something laying around your house that’s valuable?  Go pawn it and get all of the cash that you need.  This can be things like jewelry, antiques, or your old baseball card collection.  At the pawn shop you’ll be offered a few options.  You can sell the item to them or pawn it.  Pawning is where you give them your stuff and they give you a loan based on its value, and in a few months you pay the loan off and get your stuff back.

When you need fast cash it’s important to weigh out all of your options before making a decision.  I’ve known many people who seriously regretted their decision when it comes to some types of loans, only to learn that they really didn’t need the money in the first place.  Before you apply for anything sit down, take a deep breath, clear your mind, and make an honest decision about all of this.

How To Get $1500 Loans For People With Bad Credit

Trying to get $1500 loans for people with bad credit from your bank is damn near impossible, especially if you bank with a huge corporation (Wells Fargo, Bank of America, etc.).  With smaller banks or credit unions your chances are a lot better, but still not that great.  However, when you look to other, not so common lenders, things get a lot better.  This post is going to cover a few of the ways that you can get the cash that you need, no matter what your credit score is like.

When you need a $1500 loan I strongly recommend you start at a bank or credit union, even if you have terrible credit.  The odds are stacked against you, but the great interest rates that you can get there make it worth your time if you get approved.  Compared to the other lenders we will discuss here you will save a serious amount of cash, as well as help rebuild your credit.  It’s a long shot, but it’s still the best place to start.

They are much more expensive than a bank loan, but in some cases it may be your only option.

So what do you do if you can’t get a loan from your bank?  It’s time to check out installment loans.  These work like really large payday loan that offer you much more time to get the loan repaid.  They are much more expensive than a bank loan, but in some cases it may be your only option.

Most of these are no credit check loans, meaning that the lender simply won’t care what your credit score is.  The things that they will check are how long you’ve been at your current job, how much you make each month, if you’ve recently filed for bankruptcy, and how often you overdraft your checking account.

A problem that you may run in to when looking around for installment loans is that the lender may not offer you $1500.  For example, Great Plains Lending will offer just about anyone a $500 loan with installment payments, which may or may not work for you, but it’s important to know to expect this.  Plus, taking out several loans to meet your needs is very risky to do!

$1500 loans for people with bad credit are definitely out there as long as you can meet the installment loan lender’s requirements.  What’s important to keep in mind is that patience is extremely important here.  Jumping on the first loan that is offered to you can lead to either not getting enough money or accepting terms that screw you over in the long run.

Why You’re Never Going To Find An Instant Loan

Despite the best marketing tactics by payday loan lenders, you’re never going to get an instant loan. Ever.  I’m sorry to say it, but it just won’t happen, unless these lenders stretch the idea of “instant” to mean a lot longer!  These loans are extremely fast, but the money won’t just magically show up in your bank account!  In this post I want to show you how instant loans really work so that you can understand what you’re getting in to.

While online and local payday loans are similar, the way that you get paid and how you pay it back are very different, so in this post we’ll break it down this way.

Applying for an online payday loan is extremely fast and easy.  You fill out an application on the lender’s website and wait a few minutes (or up to an hour depending on how they process it) to hear whether or not you’ve been approved.  This is the “instant” part.  From there, things grind to a halt.  Assuming you’ve been approved the lender then has to transfer the funds into your checking account.  In a perfect world this would happen quickly, but it doesn’t.  Banks don’t like to have funds flowing in and out freely, so they put a hold on the transfer until they get to approving it.  The hold is very similar to depositing a check into the ATM and they only make a small portion of the check available to you right away.  This approval will generally happen overnight, making the funds available to you the next business day.

Not so instant, right?

As far as local loans go, they are much faster.  This is due to the lender being able to write you a check right in their office.  You will fill out an application in the office, wait a bit for it to be approved, and then get paid.  Most lenders can get all of this done in just a few hours.

One thing that slows down a lot of people with local loans is that they don’t bring all of their paperwork with them when they apply.  To prevent this from happening, simply give the lender a call before you leave your house and ask what you need to bring with you.

If you have the time to wait for an online payday loan, the convenience definitely makes it worth it, just don’t expect the payday loan fairy to waive her wand and make the money available to you right away.  However, if time is seriously pressing get in your car and head down to your local lender.

While an instant loan is a myth, if you set your expectations accordingly you can get all of the cash you need without getting burned!

I Need 2000 Dollars Fast! Will Payday Loans Affect My Credit Score

Payday loans can be very helpful for people who are in between paychecks but need money right away. It is also very helpful if there are extra expenses which you were not able to include in the budget. Payday loans are very easy to get. There is no credit check required so even if you have bad credit, you will be able to qualify for it as long as you are a citizen of the United States, at least 18 years of age with a job that pays no less than $1,000 and you have an active savings or checking account. If you are saying “I need 2000 dollars fast”, payday loans may be the answer you are looking for.

A lot of people are drawn to payday loans because of their accessibility. However, most of the people who take out payday loans have problems with payments. Payday loans have to be paid in just 14 days or when you receive your very next paycheck, there are also special types of payday loans which are to be paid in 30 days. If they cannot make payments on time, they opt for a rollover. When you rollover, you are extending the term of the loan and this means additional costs. The amount you pay for the rollover will not be subtracted from the principal. People who missed payments or have late payments are asking if a payday loan will affect their credit score. Are payday loans worth it if you really need money?

Payday loans, just like other loans, can affect your credit score negatively if you do not pay them on time. Applying for the loan does not have any impact on your score but you have to keep in mind that credit score will plummet if you do not repay on time. You have to be mindful of your obligations if you want to retain a good credit score.

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