Payday Loans and Fast Cash Guide

Things To Consider Before Applying For A Cash Advance Loan

Needing a cash advance loan is a very stressful thing to go through.  That stress can cloud your decision making and lead you to doing something that you may regret later.  In this post I want to go through some things that you should think about and/or discuss with your spouse before you apply.  I’ll never tell you that you shouldn’t get a cash advance loan, I’ve used them myself more times that I’d like to admit to, but after using them as much as I have I’ve learned a lot of things that could be useful for you to think about.

First, and most importantly, you have to be sure that you’ll have enough money to cover repaying your cash advance payday loan without screwing yourself again in a few weeks.  That means that even after you get paid again and repay your payday loan you’ll still have enough to cover bills and food that come in the next few weeks.  The last thing that you want to do is need another cash advance to cover that week.  Relying on fast cash loans is a recipe for financial disaster that you’ll have a hard time getting yourself out of.

Second, determine exactly how much money that you need.  Borrowing too much money is almost as bad as not borrowing enough.  Getting extra money might seem like a good idea right now when you don’t have any cash, but having borrowed money to pay for food, smokes, and fun is extraordinarily expensive.  If the average payday loan costs $25 for each $100 that you borrow, a $100 night on the town will cost you a whopping $125!  Figure out exactly what you need before applying.  If you need $350 to cover your bills or change your radiator, only get that amount.

Third, figure out if there is anything that you can do to reduce the amount that you need to borrow.  Borrowing less money saves you a ton of money in the long run.  See if there are any odd jobs that you can do or sell some stuff at the pawn shop to trim your need down.  Babysitting, yard work, and house cleaning are all things that people commonly pay cash for.

Like I said above, I’ll never tell you that you shouldn’t get a cash advance loan.  Just be smart about doing it so that you make decisions now that will help, rather than hurt, you in the future.

How To Get Approved For A Fast Cash Advance

Being broke sucks and getting approved for a fast cash advance is one of the easiest ways to get yourself some money and keep your like moving in the right direction.  Fast cash advances certainly have their risks, but I’m not going to help you decide one way or another.  If you’ve decided that you need a loan or advance, I’ll show you how to get approved fast and easy.

The most common fast cash advance is the payday loan, so that’s what we’ll examine the closest, but these methods will help you get approved for any type of cash loan as well.

The key to getting approved quickly is to have all of your stuff together before applying.  You’re going to prevent adding any extra stress to this already stressful situation that comes from the panic of not having what you need.  The common factor in all of these advances is your employment status.  There certainly are loans for the unemployed, but they’re harder to come by and have already been covered in depth on this site as well as other money making ideas.  You need a job to get a payday loan as well as a way to prove it.  This means paycheck stubs and in some cases even bank account statements.  You might not need the bank statement, but bring them if you can so they’re there in case.

It’s important to note that most lenders will require that you have been at your job for at least six months and bring in at least $1000 net income per month before they can lend you money.  This shows them you make enough to pay the loan back and that you’re responsible enough to hold down a job.

Most lenders require that you have a checking account to get approved.  Some online lenders will work with savings accounts, but it’s rare.  The purpose of the checking account is so that you can write them a post dated check to repay the loan or so that the lender can withdraw the money from your account when the loan is due.  Fast cash advances online will usually require direct deposit and withdrawal of your loan.

Although there’s no credit check involved with a fast cash advance loan, it’s important to note that they do look at a few other things to determine you approval.  Most lenders use a company called Teletrack to run a mini “background check” on your finances.  Don’t panic if you have crappy credit, this is totally different.  The purpose of the check is to determine if you already have outstanding cash advances, multiple overdrafts on your checking account, and any recent bankruptcies.  If you don’t have any of those then you have nothing to worry about.

You’re also going to need your driver’s license or state ID card to prove who you are.  As well as a list of references who they may or may not call to see what you’re all about.  When preparing your list of references be absolutely sure that whoever is going on your list knows that they may be getting a phone call and to vouch for you.  I’m fairly sure that the references are to help fast cash advance lenders track you down in case you don’t pay the loan back, but I still call all of mine ahead of time to give them a heads up.

How Online Fast Cash Advances Are Different

Applying for a loan in a store and online are two completely separate experiences.  Applying online is much easier if you trust web security (I do!).  There’s no actual paperwork involved since everything happens through online forms.  Since you’re not actually dealing with a human being for the approval it all happens much faster.  Online fast cash advance loans can be approved in minutes and the cash can deposited into your bank account in less than an hour.

Either way you do it, be sure to have all of the supporting stuff ready to go before applying.  Have your paycheck stubs, check book, ID, and alert your references before you sit down to fill out any forms.  It makes the entire process incredibly easier and faster.

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.

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 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.  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!

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