Payday Loans and Fast Cash Guide

Which Style Of Fast Cash Loan Is The Right One For You?

I know that we’ve covered the fast cash loan in depth here at Fast Cash Authority, but many people are still struggling to figure out which type they should get to fix their financial situation.  There are a lot of different ways to get a loan, and things like your credit score, employment status, and financial situation are going to determine what type you get.  In this post we’ll break this down again, hopefully in a clearer fashion than the last time, so you can make the right decision the first time.

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Good Credit Loans

When you have good credit, don’t mess around with payday loans.  They are too expensive and since you don’t need to worry about the credit check, go get cash from the bank.  You’ll save a ton of money in interest, as well as get much more flexible payment options.  Rather than having two weeks to pay your loan back, you’ll have months.

The problem with getting fast cash loans from the bank is that they aren’t exactly fast.  Compared to payday loans these things move like molasses.  Expect it to take at least two or three business days for the loan to process and for them to run your credit.  Some banks work faster, and credit unions are even faster, but their speed is definitely a drawback.  That’s a price that you’re going to have to pay to help out your credit and get the flexible payment options for this loan.

One more thing about banks, some are beginning to offer a payday loan-like loan that comes with a much more fair interest rate and can give your credit a boost.  Smaller banks in the South are spearheading this, but it’s spreading across the country.  Check with your local banks to see if they offer anything like this.

Don’t Have Good Credit?

That’s fine, I don’t either!  This is where payday loans become an option.  They are extremely fast, and don’t check your credit.  In order to get a loan like this you’re going to need to be employed and have been at your current job for at least 6 months.  You’ll also need to bring home at least a thousand bucks a month in net income, be over 18, and have a checking account.

Bad credit payday loans are smaller than one from the bank, and depend on your monthly income and expenses to determine how much you can borrow.  Most first time borrowers can get $4-500 on their first loan, but as you develop a relationship with the lender you will be able to borrow more.

Most loans are repaid on your next payday, but some work in two weeks and others are repaid in 30 days.  Your lender will have specifics on their terms.

Auto title loans are another option, but far fewer people will qualify for this type of no credit check loan.  You’ll need a car that’s been completely paid off, have the title, and an extra key to the car.  These are secured loans, which means that you borrow money based on the value of your car (usually up to 50%).  The problem with these loans is that you’ll probably be able to borrow more money than you can afford to pay back.  What happens when you can’t pay the loan back?  Your car gets repossessed!

Don’t Have A Job?

This is where things get a little tricky.  Loans for unemployed people are available, but are extremely rare.  The problem is that lenders don’t want to work with someone who doesn’t have an income, and will struggle getting their loan paid back.  For the few lenders that will work with you, you’re going to need some sort of consistent benefits coming in to get approved.  These benefits can be unemployment, Social Security, or even disability.  I’ll tell you right now that finding a loan like this is going to be tough, so be prepared to do some extra work!

Don’t Have A Bank Account?

This is pretty tricky as well.  A payday loan company doesn’t want to work with you because they have no way of getting paid back.  If you expect that a lender is going to trust your word, you have another thing coming!  Wired payday loans were available at one point, but as lenders continually kept getting burned, they are now extremely rare.

An option is to get a second chance bank account, which will take a couple days to get completely set up, and then apply for a loan then.

I think that covers most situations that people may be in when looking for a loan.  Knowing what your options are before going to apply for a loan will save you a ton of time, and the headache of not getting approved.  In the case I missed something, drop me a line in the comments and I’ll update this post accordingly.

Thanks for reading!

-Lydia

Shopping For A Payday Cash Advance

When shopping for a payday cash advance, or any type of fast cash loan, it’s extremely important that you spend time shopping around to find the lowest interest rates possible.  These loans are very expensive and even a small difference in the interest rate can make a big difference in how much you end up paying.  In this post I want to show you how to do this, as well as some other things that you can do to help you save some serious cash.

The first step is to figure out who actually offers same day loans, and how to spot the companies that are just out to sell your information.  This is pretty obvious locally, but online it gets a bit tricky.  You can get a loan from big companies like Think Cash or CashNet, both of who actually lend money, or you can shop around on your own.  The thing to look for when browsing websites is a place for returning customers to log in.  If there isn’t one of those, odds are they don’t actually lend money.  The reasoning behind this is that the sites that sell your info don’t have any actual customers, so this is not needed.

After you have a good idea of who you can borrow money from, start reading through their fine print to look for the rates.  In the UK this is extremely easy since the lender has to post it on the front page, but in the US it’s a bit trickier.  If reading the fine print isn’t your thing, just find the phone number in their customer service section and give them a call.

On the topic of calling, this is how you find the best rates locally.  Grab your phone book and start calling up all of the lenders that are close to your house or job and simply ask what their current rate is.  You can make it through a dozen or so in just a few minutes, and it is definitely time well spent!

Comparing rates when shopping around is just one way to save money.  Some lenders offer 30 day payday loans, which are great for those that only get paid once a month, but with long lending terms the interest gets incredibly high.  In this case you want to find a lender that will allow you to pay the loan back early without penalty, and then do everything you can to earn the extra money early.  This same principle goes for two week payday loans, but it’s much tougher to raise that much money in just two weeks.

Also, the more money that you borrow, the more you pay in fees.  Reducing the amount you need is another great way to save a lot of cash.  You can do this by selling some of your stuff at the pawn shop or working odd jobs for cash.  Another trick is to borrow exactly the amount of money that you need, and not a dime more.

When you need money now a payday cash advance is a good tool.  Their price makes them a risky venture, but by shopping smart you can save a lot of money which brings their price back down to earth.

Are Cash Advance Payday Loans The Right Choice For You?

There are a lot of different ways to get fast cash, and cash advance payday loans are definitely one of them.  Unfortunately, many people end up in serious debt when using loans like this.  The problem can easily be prevented with some simple planning and preparation beforehand.  In this post I want to show you how to plan for a payday cash advance, as well as offer up some alternatives to fast cash loans.

The problem with cash advance payday loans isn’t necessarily their extremely high price, it’s the time that you have to pay them back.  Assuming that you borrowed $500, and owe $625 on your next payday, what are your finances going to be like for the week after you’ve paid it back?  Most people are going to be just as broke (or worse) and have to resort to borrowing money once again.  Relying on a fast cash loan of any sort to keep your financial ship afloat is going to cause serious problems.  That’s what they call “living on borrowed time and borrowed money”.  It will never work for more than two or three paychecks, and you’ll soon be in more debt than you have a shot at paying back!

So what can you do to prevent this?  Plan ahead and start working your butt off!  If you do take out a loan, don’t get a penny more than you need, then reduce your living expenses to as close to nothing as possible.  Tightening up the ship is just one part of this plan, the other is to work to make enough money to cover the amount that you need to pay back.  Doing this will take the edge off of losing more than half of your paycheck to cover your loan’s repayment.  You can do this by working overtime, temporarily changing your tax withholding, pick up some odd jobs, or selling off some of your extra stuff.  I promise you that this is the only way to use a cash advance without feeling any negative repercussions!

Alternatives To Cash Advance Payday Loans

There are a lot of other ways to get same day cash that don’t require getting a loan.  The easiest is selling some of the stuff laying around your house, but picking up some odd jobs is also fairly easy as well.

When you need to earn money today, nothing is faster than sales.  If you have a digital camera selling stuff online is incredibly easy on Craigslist.  In most areas it doesn’t cost anything to do, and only takes a few minutes.  Some tips for selling on Craiglist that have helped me in the past are to be sure and take quality pictures so that people can actually see what you’re offering, listing all of the stuff you have separately so that it’s easier to find with the search function, and to have someone with you when you are making the transaction to make sure that you don’t get ripped off.

Craigslist is also the perfect place to find places to work for cash.  After choosing your metropolis and neighborhood you’ll see a section under Jobs called “etc.”.  This is where you’re going to find jobs that pay cash.  Keep an open mind when browsing through here because you’re going to come across some pretty bizarre stuff!  Your local newspaper’s classified section is also a great place to come up on jobs like this.

Cash advance payday loans are very helpful when you need money now when used intelligently.  Without planning and preparation you run the serious risk of ending up in major debt that will be nearly impossible to get out of.  If you aren’t able to make the money to cover the loan, or just don’t want to, use the other ideas above in this post to get the cash that you need!

Cash Loan For A Car’s Pink Slip

Getting a cash loan for a car’s pink slip is one of the easiest ways to get fast cash.  The only requirements for these loans is proof of who you are and your car’s pink slip.  Some lenders don’t even require proof of employment, so this may be an option for getting a loan when unemployed.  Let’s take a look at what is involved in getting an auto title cash loan, and the risks that are involved if it’s not paid back.

After deciding which lender you’re going to use, pay them a visit.  They’ll take a look at your car and determine its value.  The value of your car is what decides how much cash you can be lent.  Some lenders (more common here in California) have a minimum value of a car in order to give the loan, for these situations the minimum is usually around $5000.  After the value is determined, you’ll usually be lent up to 50% of the car’s value.

After being offered a loan amount, be very careful that you don’t borrow money that you can’t afford to repay.  Title lenders are known for lending way more money than the borrower could pay back within a reasonable amount of time.  They can certainly be helpful for those that are down on their luck, but their “generous” lending amounts can put some people in more trouble than when they were when they started.

If you can’t repay the loan expect your car to be repossessed.  There is usually a “grace” period before they send out the repo-man, but during this period you’ll incur huge fines and penalties.  Pink slip lenders are very serious about getting their money back.  One lender in Phoenix is so serious they install GPS trackers into all of the cars they lend against so that they’ll be easy for the repo-man to find later.  Be sure that you know what you’re getting yourself into before accepting this type of loan.

I’m certainly not trying to scare you away from pink slip loans.  Just be aware that the lender is certainly not on your side and wants every penny they can get from you.  If you’re responsible with repaying the loan on time and don’t accept more than you can afford, you’ll be very successful with title loans and have one more option for getting fast cash.

Thanks for reading,

Lydia

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.

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