Payday Loans and Fast Cash Guide

Getting Same Day Cash

Are you low on cash? Need some same day cash until your next payday? Have you ever considered trying a payday or title loan to help you meet your bills until your next paycheck? Many people are confused about how same day cash loans like these work, but let’s look at how they work and if they are right for you.

Always remember that everyone needs a little financial help now and then.  Half of Americans live from paycheck to paycheck, so that means that 152,029,862 are going to need some assistance to pay their bills when an emergency expense arises.  Most of them will use whatever credit cards they have to cover it, but for those of us that have bad credit this can be very difficult.  The same day loans that are outlined in this article require no credit check, so they are great options for fast cash loans for people with bad credit.

Same Day Cash Advances

Payday loans are loans that are given to people to help pay a bill if an emergency arises very quickly. These same day cash advances work very fast and can get you money within a few hours.  They usually need to be paid back when you receive your next weekly or bi-weekly paycheck. What makes these loans so popular is they are quickly processed and many times you can have the cash in your account the same day depending on various factors.  These same day cash loans have no credit check and all you need is a job and a checking account. This is one of the fastest ways to get same day cash and with short forms to fill out getting your money is a breeze.

Payday loans are also available online.  They function the same as regular payday loans, but the entire application process happens online, and the money is deposited into your checking account electronically.  Same day cash loans online can be an extremely fast way to get money directly into your checking account.

Same Day Cash With Title Loans

Title loans are another type of same day cash loan. Title loans are where you use your car title as collateral to get some cash to help you out in a pinch. These types of loans also have no credit checks and the online forms are very easy to fill out. You can have your cash in as little as 15 minutes which is something many people like about these types of loans.  To get a title loan you will need a clear car title, drivers license or state issued I.D., and the vehicle must be inspected. Some title lenders do not require proof of employment, so these are an option for fast cash loans for the unemployed.  After all these requirements are met your money will be deposited into your account.

Payday loans and title loans are some of the most popular ways to help you pay those added expenses that come in when your a little short on cash. As far as the terms of these loans everyone is a little different so you will need to read the terms of your agreement before you sign anything.  Always make sure you do not get a payday loan or title loan that is beyond your means. These fast cash loans are meant to help you out and should not become something you depend on every week. These two options above are a great way to get same day cash when you’re in a pinch and a little short on funds. If used properly they can be a valuable asset for you.

Can You Really Find Fast Cash In One Hour?

I get a lot of questions here on Fast Cash Authority about whether or not it’s really possible to find fast cash in one hour.  The short answer is yes, it’s very possible.  It isn’t the easiest thing to do, but if you know what you’re about to learn it will make it much easier.

One thing that you have to remember is that the payday lenders want to get you money as fast as possible, and faster than their competitors.  That’s a major reason why this business is so successful.  A bank can’t even process your application in an hour, let alone get you money!  Please don’t become frustrated with your lender, they’re doing their best to get you your money.

How To Get One Hour Fast Cash

There are a few tricks to increase the speed that you can get your payday loan or title loan, and these tricks rest on your shoulders.  The lender will move as fast as they can to get you what you need, but you have to be prepared.

The first and easiest thing to do to speed up your loan is to work while banks are open.  You’re probably thinking that banks don’t have much to do with fast cash loans, but if they aren’t open your money won’t be available in your bank account.  A payday lender can transfer you money, but it will sit there until the bank opens for business and approves the transfer.

Also keep in mind that some payday lenders require that you have a minimum balance in your checking account before they’ll lend you money.  If you only have $100 in your account and the lender requires $200, find a different lender or borrow that money from a friend (risky!).  You have to be in a position to borrow the money to get it as fast as you want it.  This leads to having all of your necessary documents ready before applying.  Have a few paycheck stubs, a list of references, your driver’s license, social security card, and whatever other paperwork the lender requires.  You’re going to seriously slow down the process if you don’t have something that you need to qualify.

Finding A Lender

I recommend starting online to find yourself a fast cash loan.  There is minimal human interaction with the approval process, which means that computers will make the decision based on predetermined qualifications.  This is way faster than having Chatty Kathy down at the payday loan store perusing through your paperwork to figure out if you can be approved!

It may slow you down a bit, but be sure to look at a few different lenders before making a decision.  They’ll each have different terms and guarantees.  You may be able to get paid much faster and save a few bucks in the process.

The Fastest Way To Get A Loan

The best way to get one hour fast cash is to follow the preparation steps outlined above and go to a payday lender that you’ve already been to.  If you paid back your last loan on time and are in good standing with them, they will approve your next loan in no time at all.  They keep records of your history there and should have all of your info from your last loan, so approval should be nearly instant.

Thanks for reading,

Lydia

How I Found A Cheap Payday Loan

I needed a cheap payday loan to make a purchase, that in my opinion was necessary.  I  wanted to put down $500 for a motorcycle in order to keep down the amount that would be owed to the finance company, to $5,000 rather than $5,500.   Another reason was that I needed to place a deposit on the bike in order to keep it waiting for me.  The cash was not available until my next paycheck which was payable in under two weeks, so I needed some fast cash.  A friend recommended a cheap payday loan company and I engaged them online after perusing other possible payday loan companies.  The rates were all competitive, but I wanted to get the cheapest rate possible.

After spending some time researching the cheapest payday loans, I learned quite a few things.  Most importantly, in order to get the cheapest rate, you have to shop around online.  Cheap online payday loans are out there, but most lenders aren’t very outright with their rates.  I’ve concluded that the most legit companies are always going to have their rates posted on their website.

I also spent some time trying to find a cheap payday loan in my city.  There were two ways I could do this, I could hit the road and go to all of them, or hit Google local search to find all ones in my area and call them up.  Every payday loan store has their own requirements and rates, so it’s extremely important to find the one that’s right for you instead of choosing the first one you see.

I found a cheap no fax payday loan, and was not in a great hurry.  Nevertheless, my payday loan funds were in my checking account within 24 hours.  Now I was able to write a check that had money behind it (imagine that!).  The payday loan company served my purposes and charged a very cheap rate.  The transaction went smoothly with no hangups.

Sure the interest was a bit high, though not that far from some of my credit card rates, upon which I did not want to add the $500.  Luckily, it wasn’t a big payday loan so I didn’t have to spend too much in interest.  I am careful with my money and knew I was going to pay the loan back on the due date, which is the responsibility of the borrower.

I was excited to be able to get this new motorcycle and felt great when it was ready to go.  As I drove the bike home I was happy, as you can imagine.  The loan served its purpose in making it possible to purchase this motorcycle.  The service offered by the company was fast, efficient and they treated me well.  If you need a short term loan this is the way to go.  All that is needed is the discipline to pay the loan back in a timely fashion.  A cheap  payday loan is a good choice when funds are needed over a short period and you know that you can pay it back.

Note:  This is a guest post by Nick Drake, a good friend of mine from Austin, Texas.  -Lydia

Where To Find Instant Cash Loans

Instant cash loans are easy to find, you just need to look in the right places. You’re probably saying, “yeah dude, I know that” but there are things that you need to know to get a good deal and fair terms on your instant cash loan.

For the sake of this article, an instant cash loan is one that doesn’t require a credit check and will get you fast cash within a few hours.  The two most common types of cash loans are payday advances (which are also available online) and title loans.  Both of these instant cash loans will get you the money you need very quickly.

Instant Cash Advance Loans

Instant cash payday loans can be found at most check cashing/money sending stores in your city.  They are usually concentrated in the urban centers of the city (downtown).  The good thing about living in a large city is that there are hundreds of these in each city, so you have a lot of choice.  In most situations, I’m all about helping the “little guy” out and shopping at small business.  This is not the case with payday loans!  The little guys seem to be the ones that will give the steeper interest rates and harsher terms.  I’m not saying that all of them are that way, but you’re going to get much more fair and consistent terms from the bigger companies (Check n’ Go, Check Into Cash, etc.).

If you have choices in your area, check all of them out.  Many places aren’t going to be very upfront about what their terms are, but with a little bit of persistence you’ll get the info that you need.  I strongly recommend doing this so that you can get the best rate possible.

Instant Cash Loans Online

Instant approval cash loans have been available online for a few years now, and their reputability has improved over time.  Faxless instant cash loans are now becoming more popular and allow you to complete your entire application with no faxing.  Online payday loans operate very quickly, and can usually have your money in your checking account within an hour or two.

When looking for an instant cash loan online, pay attention to where you navigate to.  There are two different types of websites that are looking to help you out (three if you include this one!).  The most common website is for the actual online payday lenders that you’ll deal with when applying for your loan, these guys are your friends.  The second type of website are called “lead generators.”  These websites function as information collectors, and get paid when they can get you to fill out a form with your info and send it off as a lead to the payday lenders.  While these lead generators aren’t exactly a bad thing, they put one more step between you and your money and risk you getting lots and lots of telemarketer phone calls.

To find the best and fastest instant cash loan online is to go directly to the source, and apply with the company directly.  These instant approval cash loans will get you the money that you need as fast as possible!

Instant Title Cash Loans

Title loans are the fastest type of loan that you can get.  It’s much faster for a title lender to appraise your car and determine a loan amount, than it is for a cash advance lender to verify all of the information you submit on the application.  These loans get you money by using your paid-off car as collateral, and will loan up to 50% of the car’s value.  Keep in mind that if you fail to repay the loan, they repossess your car.

Same Day Payday Loans

When you need fast cash same day payday loans are your best option.  This guide will show you how to get the best rate and the fastest money before signing up.  Instant payday loans aren’t difficult to find or to be approved for, but there are things that you can do to get you a better rate and put money into your pocket sooner.  You can choose to go to a store or find payday loans online and the methods that I’ll show you here will work for either one.

What Are Same Day Payday Loans?

A same day payday loan is a short term loan that will get you money the same day you apply.  These loans are a great choice for covering emergency expenses like auto repairs and medical bills.  Murphy’s law tells us that these types of unexpected expenses will always pop up when we’re running low in the checking account, so knowing how to use same day payday loans is important.

Like I said above, these are short term loans that are usually repaid in 14 days.  In order to qualify you must have a job, have ID, and have a checking account.  The amount of money that you can borrow depends on your income, but you can expect that your first loan with a payday loan lender will be fairly small in relation to what you could afford, and on average the first loan is around $400.

Interest rates on short term loans is pretty high.  The reason for this is that if a payday loan lender was to charge the kinds of interest that a bank does, 10-15% APR, it would only make a few cents (Less than $.10 for every $100 borrowed) on each loan since they are so short term.  Instead, they charge a flat rate per $100 borrowed that doesn’t depend on your credit score since there is no credit check on these loans.  The average rate for a payday loan is $25 per $100 borrowed.

No Fax Same Day Payday Loans

The fastest payday loans are going to be found on the internet.  This is because there is minimal human interaction to slow the process down.  Your application is reviewed and approved by matching your information against the criteria that the online payday lender has.  This method will deliver nearly instant approval on payday loans, which speeds up the entire transaction.

When approved, your money is deposited directly into your bank account.  This will save you even more time since you don’t have to head to the bank to deposit the check on your own.  Some same day payday loans online will get you the money that you need within an hour!

Make Regular Payday Loans Faster

If you decide to go to a payday loan store instead of using an online lender there are a few steps that you can take to make sure that you get your money the same day.  First, and most importantly, have everything that you need with you when you go to the store.  This will probably involve calling the payday loan lender ahead of time to see what their requirements are.  Lenders will have different things they need for verification, some will need a copy of your social security card and others won’t, some will need two paycheck stubs another will need four.  Call ahead to be sure.

Second do your best to go for your loan during banking business hours.  The last thing you want is to get a check and not be able to deposit it!

Low Interest Payday Loans

Low interest same day payday loans do exist.  The easiest way for you to find them is to do some shopping around before you apply.  You’ll probably find a lender that always has low rates, or one that has first time specials for new customers.  There are also some banks that are beginning to offer payday loans at a much lower interest rate.  This is more popular in North Carolina than other states, but the trend is slowly catching on.

Thanks for reading!

Lydia

Where To Find A Same Day Payday Loan

Getting a same day payday loan is easy and available all over the Internet. The trick is finding the lender who gives you the best deals. You should also look to your local cash advance stores for getting instant cash advances against your next payday.

This post will show you how both methods work so that you can figure out which one makes the most sense for your current situation.

Getting The Loan Online

Online lenders have changed in recent years. It used to be that you had to fax over all types of sensitive information like copies of your social security number, driver’s license and pay stubs. This is better today because many are updated and it is possible to get faxless same day payday loans. Not having to fax saves you some money if you do not have a fax machine or do not know how to send faxes from your computer. It also prevents this important information from becoming lost in transmission.

The speed of online payday loans is different than that of a local loan. The time of day that you apply will directly affect how quickly you get your loan. If you can apply very early in the morning, on a weekday, you’ll likely see the money in your bank account the same day. Otherwise, you should expect it to show up sometime the next business day. Applying on Friday or the weekend will likely put the cash in your account on Monday.

Being able to get a same day payday loan gives you a bit of peace of mind knowing that if an emergency arises you can access fast cash immediately. Online lenders work electronically and will deposit the loan directly into your bank account. You may have to order early in the day to get this done on the same business day. Some lenders charge a premium fee for faster service also. Online lenders with good fees only ask about $15 when you borrow $100. Others may want up to $30 for the same amount delivered instantly. They take repayments on your due date the same way, electronically.

What About Locally?

Local loans work exactly the same except for one glaring difference – the lender can write you a check right there in their office! This means that you will likely have cash in hand in just a few hours, and these lenders are normally open fairly late to help you out.

Obviously, this doesn’t work that well if you don’t live anywhere near a loan office, but if you do you may want to consider it if speed is important.

At a cash advance store you can walk out with cash in hand anytime of the day that they are open. This can be very convenient. You have the same requirements as when you get same day payday loans online but you have the pleasure of working fact to face with the clerks. Convenience, speed and cash are great reasons to borrow!

So It Is Possible?

Yes, it is very possible to get a same day payday loan. At their slowest, the money shows up the next business day, so even if you get stuck with a slow lender it is still one of the fastest ways to borrow money in the world!

Fast Cash Loan

The fast cash loan is a way to get yourself some money in a pinch.  These loans are certainly expensive, but when you need money fast, they’re one of the best ways to get yourself out of money trouble.  When used responsibly, short-term loans can be a very useful tool to keep checking account in the green.

There are a few types of fast loans that can get you the cash you need on demand.  The two most common types also work great for people who don’t have good credit.  These are the payday loan and the auto title loan.  Both types of loans can get you cash fast, and are some of the few loans that don’t require a credit check.  Personal loans from the bank are also a viable source of quick cash.  These require a decent credit score, but offer much better terms.  Let’s take a look at each one in a little more depth so you can decide which is best for you.

Fast Cash Payday Loan

The fast cash advance payday loan is the method that most people turn to when they’re short on cash between paychecks.  These types of loans aren’t available in all states and are under loose regulation, so be sure to shop around to find yourself the best deal possible.  All you need to be approved for this type of loan is proof that you have income, proof of who you are, and a bank account.  It’s really that easy.  They don’t care about your late credit card payment or your defaulted loan, they want to give you money.  The fast cash advance loan is perfect for hard working people just like yourself to get the money that you need to make it through to the next paycheck.

Fast Cash Title Loan

Auto title loans are a risky business, but can get you some serious money when you need it.  The premise here is that you put up your car as collateral for your loan.  You’ll need proof of who you are, the title to your ride, and an extra set of keys.  The keys will be returned to you after you’ve repaid the loan.  This secured fast cash loan can get you quite a bit of money, without needing to look into credit scores or, sometimes, employment verification.  There’s a catch (there always is), if you don’t pay back your title loan, they repossess your car.  This is one of the most common bad credit fast cash loans and they make a lot of money by repossessing and selling cars, so be sure that you’re going to be able to pay the loan back before you sign anything.

Some title loan lenders are so serious about getting their money or repossession, they’ll stop at no lengths to get it.  One title lender in Arizona went as far as to install a GPS tracker on the car as a term of the agreement.  This allowed them to find the car, no matter where it went!  The lesson here is to be sure that you can pay the loan back before getting it.

Fast Cash Personal Loan

It’s sometimes easy to forget that banks lend money too, and not everyone has bad credit (okay, most of us do…).  Many banks can approve small loans very quickly and get you the money you need the same day.  They’ll offer much better terms than a auto title or payday cash advance lender will, meaning you’ll get a much lower interest rate and longer to pay the loan off.

There will always be fast money available somewhere, and these are just the most common options.  Good credit, bad credit, or no credit, if you look hard enough someone will be out there waiting to give you the fast cash you need.

Low Cost Payday Loan

A friend of mine heard that I received  a low cost payday loan to put down a deposit on a motorcycle.  He was also a fan of motorcycles and asked me the procedure for obtaining payday cash advance loans.  I told him what company I used but recommended he surf the web to see if he can get a better rate.  He discovered that most companies offered competitive rates and used the same company that loaned me the money.  He purchased his motorcycle and has been enjoying it ever since.

He explained to me that when he was searching for low cost payday loans online he learned a lot about how they work.  I was under the impression that payday loans online were a shady business, but I learned that as the security technology on the internet has increased, the number of dishonest payday loan lenders has decreased.  There are some instant payday loans that don’t require anything to be faxed in to them, and everything is taken care of online.  I’m extremely impressed by these faxless low cost payday loans.  I worked in internet security for a while a few years ago, and these things were still a pipe dream then!

From what I know about him he is as responsible with money as I am.  Therefore, he paid his loan back when he received his next check from work.  He claimed that since his loan was only for about a week the interest was negligible.  He believed it was worth it since he had the motorcycle waiting for him when he picked up his check the next day.  Otherwise he would have to go shopping for another motorcycle.

Fast cash payday loans can tide you over for the short term when you do not want to tap other sources of funds, or you just do not have the money now.  The only requirement is for you to be sufficiently responsible to pay back the loan on time.   If paid back in a timely fashion, the interest on the low amount borrowed does not add up to a lot of money and you get convenience and peace of mind.  Payday loan companies should not be attacked by other lenders who in many cases do not want to lend to these people.  All you need is a bank account and proper identification to get the loan.  The experience I have had, and those I have heard about concerning payday loan companies has been positive.  When you need some funds for the short term and know income will soon be coming in, a low cost payday loan is not a bad choice.

Note:  This is a guest post by Nick Drake, a good friend of mine from Austin, Texas.  -Lydia

The Fine Print Behind Loans With No Credit Check

I figured, that in order for everyone here to understand loans with no credit check a little bit better I would break down the fine print.  This type of contract or fine print isn’t going to be the same for every no credit check loan, but it gives you a good understanding of why they are so damn expensive!  There is a lot of risk on the lenders part, so they charge more to make up for that.  I don’t expect that you’ll read the entire thing, but scan through it and you’ll get a much better picture of what you’re paying for.

The allocation of money to bank Loans With No Credit Check and other debts resulting from sales to accounts opened, leasing contracts and banking contracts, occurs at two different times: before the loan is issued, the sale is completed or run an contract, and beyond. Once a debtor into a financial obligation, creditor expects full compliance with the agreed terms. Any non-compliance of the asset value goes down; it generates actions by the bank’s loan department, and often requires the provision of reserves to cover potential losses. For clients to open accounts for credit (credit line) and many other forms of contracts, the initial assessment is a way to determine the risk posed by the customer or counterparty. If the risk is excessive, the rate of return for a sale or any other agreement is insufficient and rejected the sale or contract. In the remainder of this section, we only bank Loans with No Credit Check. 1) – initial loan rates

Acceptance of the application for a loan by the bank official responsible (see the case of banking strategy in section B of Chapter 4) implies that the client’s risk is not considered excessive (i.e., that there is reasonable doubt that pay the loan). Then, the loan officer has several options for structuring the loan, so that is right for the customer and profitable for the bank. The interest will be charged the price of the loan. That interest depends on several factors: cost of resources for the bank loan risk, fees and other costs that are charged to the customer for processing the loan and so on. We study below.

a) – Cost of funds to the bank

This cost is usually minimal for all Loans with No Credit Check. But it is usually the largest component of the interest rate being charged. [Each percentage interest above that we call a point, and every hundredth of a percentage point is a base]. Often the cost of resources or funds is calculated as the average interest paid on the various sources of funds that has a bank, for which the bank must pay interest (deposits, CDT, inter bank Loans With No Credit Check and obligations long term), plus the cost of maintaining the required reserves by the central bank, and the cost of attracting new money (campaign for people to open new savings accounts, for example). Sometimes, instead of the average cost, marginal cost is used to acquire new assets, especially when it is anticipated that changes in economic conditions change attract equity markets. Also, the cost of funds is affected by the distribution over time of loan repayments and also the bank’s funding sources. The bank can take a significant risk on the interest when you change the structure of payment periods that have the client (see section D-4 of Chapter 2) and the bank must compensate by charging higher interest discovered or by hedging financial market (as described in Section B-1 of Chapter 4).

b) – Structure of Loans with No Credit Check

The choice between different types of Loans with No Credit Check can be made between
- Seasonal self-liquidating loan
- Revolving credit
- Self-liquidating loan but with no collateral (accounts receivable, inventories pledged, etc.).
- Term loan with or without mortgage.
The presence of guarantees given by the client (pledging of assets, for example) somehow reduces risk and allows interest rates drop.

c) – Risk of Loans with No Credit Check

It is a charge for the possibility that the bank has loan losses as a result. The potential failure of the customer is the crucial part of the analysis made by bank officials approving Loans with No Credit Check. As a routine, establishing a rating or weighting method that assigns points (not percentage points) to each element related to the granting of credit, such as:
- Purpose of the loan
- Source to be used for return
- Maturity
- Financial strength and client personnel
- Capital adequacy
- Quality of financial reporting and accounting procedures
- Ability to meet present obligations
- Quality of management
- Completeness of documentation
- References and credit history
- Quality of the collateral, if any
- Relationship with the bank
In many banks and in the texts dealing with the subject can be obtained different rating systems. Consist essentially of a weighting to each of the above elements into a classification matrix that reflects the risk attributable to each element. The total score is obtained corresponds to an increase in percentage points (e.g., from 0.1% to 4%) over the conventional or reference rate of the bank. The latter is that which covers the cost of funds for the bank, previously studied, which meets the objectives of the bank’s profitability, given its asset portfolio and the structure of their liabilities or obligations. In the U.S., this benchmark is called prime rate (prime rate “), and is the rate charged to the bank’s best customers, those that provide little or no risk in meeting their obligations. However, competitive pressures, banks have been lending at a lower rate than the prime, and the term has been discredited and lost its initial intention to encourage the best customers.

d) – Additional Rates

The bank should charge customers for costs and services incurred in processing a loan. These rates are often incorporated into the interest rate, but sometimes are listed separately. The fee may be costly for small Loans with No Credit Check. When a security is pledged, the bank incurs costs of inspection, evaluation, storage and control the movement of such assets pledged normally passed along to customers. In the case of real estate, a fee is charged for opening. The bank may also charge for the cost of maintenance of required reserves for the loan amount, or the requirement is the client who keeps this amount in your checking account, what is known as compensating balance.

e) – Revenue Banking

The banks assign a profit margin added to the cost of funds. In addition, protecting the revenue by offering customers a floating rate, variable or indexed, or if a higher rate is fixed. When applying a variable rate minimum and maximum are set to reduce the burden on both parties. Banks also earn income from commitment fees charged for the unused portion of the Loans With No Credit Check granted to customers, and there are monetary penalties when a loan is returned before maturity, to protect the incomes of the bank. Finally, the client can generate revenue for the bank for other services the bank offers its customers, apart from Loans with No Credit Check, as handling payroll, trading in bonds or securities, cash management or management of trusts.

9 – No chance of recovery

This classification system determines a uniform risk clearly present in the loan portfolio and allocates the reserves according to the classification. The supply of reserves is inversely proportional to your score’s Worst Loans With No Credit Check require increased provision of reservations, but each bank is free to determine their own way. Many prefer to take action to help the customer, if possible, or simply cancel the loan. A common classification of Loans with No Credit Check, resulting from the classification, leading to the immediate provision of the following reserves:
- Growing pains, and back payments: provision of reservation of 20%,
- A loan without normal activity: reservation of 50%,
- Recovery improbable reserves of 100%.
(The quick actions have resulted in a decrease in losses for U.S. banks, which have been at an average of 2 to 3% of outstanding Loans with No Credit Check).

With the outstanding loan classification and provision of reserves, banks can put a price (interest rate) to each of its Loans with No Credit Check and whole loan portfolio.

If you made it this far, congratulations!  You now have a better understanding of why we pay so much for a no credit check loan.  Keep all of this in mind when you’re applying for your next so that you can swallow the interest rate a little bit easier.

Thanks for sticking with me!

Lydia

Finding The Best Payday Advance Online

Finding a payday advance online is easy, finding one that is going to be fair and honest is much more difficult.  There are a few things that you need to watch for when looking for your payday loan, and this post will show you those things.  I’m certainly not going to tell you that you shouldn’t get a payday loan, when you need fast cash you need fast cash.  Good, hard working people just like you and me hit rough spots every now and then, and finding a way to get money without getting ripped off is extremely important.

For those that aren’t sure what online cash advance payday loans are, I’ll break it down for you.  Basically, a payday loan is a short-term loan that doesn’t require a credit check.  The amount that is lent depends on how much money you make each paycheck, and will usually start off small and grow fast as you build your credibility with the lender.  The average first-time payday loan is around $500, but as you gain trust with the lender by paying them back on time the loan can grow up to $2000 or more.  You’ll repay the loan by either writing a post dated check (for brick and mortar stores) or allowing the lender to withdraw the money from your account (online).  Interest rates on these loans varies, but the average is $25 per $100 borrowed.

Finding A Payday Advance Online

When you’re looking at online payday advance websites, there are essentially two different types.  The first is the actual lenders who you will apply with and lend you money.  The second are sites that work to pair you with the lender that is best for you.  These sites are called “lead-generators” in the industry, and they get paid when you sign up through them.  Both sites have their advantages.  The easiest way to determine which site you’re looking at is to look for a customer login form.  If there is a place for returning customers to login, it’s a lender.  If not it’s a lead-generator.

The lead generator sites will collect your info and shop it out to different lenders.  Each site has their own terms, so it’s difficult to say that you’re going to get the best deal, but at least they will do some of the shopping around for you.  And keep in mind that if you don’t like the terms of the offer that’s being made to you, you have no obligation to sign up for it.  They will usually shop your inquiry out to three or four lenders before determining which is the best fit for your situation and lending needs.

If you prefer to go directly to the source when shopping for your payday advance loans online, it’s a good idea to look at a few of them before signing up.  Each has it’s own terms and rates, so it’s a good idea to see which one is the best for you.

Avoid Getting Scammed With Payday Advances Online

While you’re shopping around for your online payday loan, there are a few things that you should be looking for to keep yourself protected.  The first is to keep a close eye on their lending rates.  If you find one that is way higher or lower than the $25 per $100 borrowed, that’s a good sign that you’re going to be taken advantage of.  Many online lenders operate in states that allow higher interest rates, so they will do their best to charge you as much as possible.

Another thing to look for is the seal of the Community Financial Services Association of America (CFSA), or its equivalent in your country.  The logo on the left is what you’re looking for, and it will usually be at the bottom of their page.  Online payday advance companies apply with the CFSA and are only approved if their practices fall within their guidelines and their state’s laws.  This certainly isn’t a guarantee against shady practices, but it means that company adheres to the CFSA’s best practices and can be held accountable if they don’t.

Follow these guidelines and trust your gut when shopping for payday advances online.  It’s your money, be smart with it!

Thanks for reading,

Lydia

How To Get A Fast Cash Payday Loan

Getting a fast cash payday loan is very easy when you meet the basic qualifications. Even if you don’t meed the qualifications, you aren’t totally screwed since there are other lenders out there that are willing to let you borrow money.  In this post, we’ll look at how to get cash fast and what you need to get approved, how to make the process as fast as possible, and what to do if you don’t meet all of the requirements.

First off, I have to say that payday loans are a great resource to help you keep your financial life moving forward, but can be very dangerous when abused (like all of the other good things in life!).  Getting a fast cash loan every once in a while is great, but when you begin to rely on them to stay afloat you’re in trouble.  If you feel that you’re starting to head down that path, stop and take a look at where you’re going wrong with your finances.  I’ll stop, this isn’t a money management website…

The Fast Cash Payday Loan

Fast cash payday loans are short term loans that carry a high interest rate.  They’re usually paid back in two weeks, but some lenders do 30 day terms on a cash fast loan.  High interest comes from the fact that they are high risk and so short term, if a lender was to give you a 15% APR on a payday loan they would only make a few quarters on each loan.  This sucks for us, but it’s the only way the lenders can stay in business.

Each lender will have their own specific requirements, but the basics are fairly the same across the board.  The basic requirements for fast cash payday loans are as follows:

• Have a job (duh!) and have been there for a few months.
• Have paycheck stubs that prove your income and employment.
• Have your ID.
• Have an open and active bank account (usually checking, but some lenders deal with savings accounts).
• Have a list of references (usually 3, and make sure they’ll vouch for you).

Some lenders will require you to show what your other bills are like so they can factor your expenses into the amount that you can borrow.

How much money can you get? That really depends on how much money you make, but your first loan will always be dramatically less than what you’re capable of paying.  The payday lenders are looking to build a relationship with you and dodge a lot of the risk that lending tons of money up front would bring.  The average first loan is between $400-500 and most lenders will go as high as $1500 after you’ve built up some trust.

How much interest do you have to pay? The interest on these loans is certainly high, but it’s cheaper than overdraft and late fees (see video in sidebar).  On average, fast cash payday lenders charge $25 for every $100 borrowed, but that can go as low as $10 or $15 if you spend some time finding the best deal.

Make A Fast Cash Payday Loan Faster

In order to get cash as fast as possible, you have to have your poop in a group.  This means that you have all of your paperwork in order, your references know that they might have a phone call coming, and your bank account doesn’t have any sort of holds on it.

You can get fast cash payday loans online as well.  These loans are going to be much faster since the approval process has mostly eliminated the human part of it.  It’s all automated, so you’re moving at the speed of broadband!  The catch here is that you need to apply for a loan while the banks are open so they can deposit the money into your account without there being any holds on it.

What To Do If You Can’t Get A Loan?

The first step is to come back to the Fast Cash Authority and spend a little while browsing around!  On this website you’ll find hundreds of ideas on how to get fast cash.  You could try a different loan, like a title loan, to get you money or any number of things.

The most important thing is that you do something.  Sitting around watching TV isn’t going to help out your money situation at all!

Low Fee Payday Loans

It is possible to get low fee payday loans. All that is necessary is to do a little checking around at various lender websites and at local payday loan stores. One thing that is a little tricky is actually discovering the fee amounts that are charged. Many times you will not know until you actually start up the application and get to the final moments when the totals are disclosed.

Here’s the truth about low fee payday loans. A low fee runs about $15 for each $100 that you want to borrow. The term should be at least a week and preferably two weeks. Payback time depends upon when you get paid however. If you are only paid on a monthly basis your loan will run for a month long term. Watch out for sliding scale fees that creep upwards day by day. What you want to find is a set fee for the period.

In other words, look for a set fee of about $15 per $100 no matter how long the loan term is. It should be the same fee if your payday is a week away, two weeks out or even a month away. Anything different is too much. While browsing I did see one website that claimed there are lending fees as low as $10 but everything I found was at least $15 to $25 per $100. In local stores most of the $100 loan fees were $15 or $16, which is still a good rate.

Low fee payday loans are great for filling in gaps in income or when an emergency crops up to mess up your budget. You most likely will not be able to get similar fast cash short term loans from your local bank or credit union. They offer very low rates, but not for small short term loans.

Get A Payday Advance Loan

Payday advance loans are a great way to get fast cash when you need it. These types of loans can be applied for at traditional brick and mortar stores or online. Either way is going to get you money the same day you apply for it. The average loan is around $500 and is on terms to be repaid in 14 days (next paycheck). The average interest rate is around $25 per $100 dollars. When spelled out, that equals out to a triple digit APR, but that’s the price you pay for cash that can be loaned that fast without a credit check. In order to qualify you need a job, proof of who you are, and a checking account. Each lender will have their own specific terms for your loan.

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My name is Lydia and I'm and expert at getting fast cash. I've been through it all, and now I want to share my experience with you

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