Payday Loans and Fast Cash Guide

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

Everyone needs some fast cash every once in a while.  Good, hard-working, people still get unexpected expenses and need a little boost from time to time.  If this sounds like your situation, you’ve come to the right place.  We’ll take a look at different ways to get a fast cash loan, what it takes to get it, and the risks that are involved.

Getting fast cash now comes in many forms.  The most common is a fast cash payday loan or other short-term type of loan.  These are no credit check loans and are great since your credit score has no effect on being qualified or how much you can get.  Things like having a job and owning a car are what usually determines these types of loans.

Fast Cash Payday Loans

Payday loans and payday cash advances are great for getting cash fast.  There are probably a few payday loan lenders in your area that would be happy to have your business, and even more online.  The premise of a fast cash advance is that you are qualified for an amount of money based on your income and bills.  You’ll either write a post dated check for the amount you owe, plus interest, for the date that your loan is due and they’ll cash it, or you’ll give them your bank account information and they’ll automatically deduct it from your checking account.

The benefits of fast cash advance is that you’ll get the money you need right away, but the disadvantage is that they charge a lot of interest.  The average amount is $25 per $100 borrowed in the United States.  This is the price we must pay to get cash in a pinch, and if you’ll have the money after you get paid again, this isn’t such a big deal.  The key to getting the most from a fast cash loan is to not rely on them to get you through the month.

Auto Title Loans For Fast Cash

Auto title loans are a quick way to get some cash fast.  Auto title lenders are known for the speed that they can get you the cash you need.  All you need is to own a car that is paid off and you’re probably eligible for a loan.  Some car title loans require that your car be at least a specific value, but others don’t, and this will vary from region to region.  Most lenders here in California require that the car be worth at least $5000 to qualify for a loan.  Don’t worry if yours isn’t, you just need to shop around to see which lenders will work with you.  A pink-slip loan requires no credit check and sometimes not even an employment check.  This means that you can get your hands on some cash when you’re really down on your luck.

The obvious downside to a title loan is that if you fail to repay the loan, they can take your car.  Don’t borrow more than you can afford to prevent this from happening.  Just because they offer you a lot of money doesn’t mean that you have to take it from them!

These are just a few of the secured and unsecured fast cash personal loans available.  There are loans that are available through banks and credit unions for those who still have good credit, but most banks can’t compete with the speed that these other lenders can.

Whichever method you choose, be sure to pay it back on time.  If you borrow more than you can afford, you’re on the road to financial disaster.

Payday Cash Advance

A payday cash advance is the most common method for getting fast cash.  Millions of Americans turn to payday cash advance loans each year, and this includes good, hard-working people just like you and me.  All you need is proof of income and proof of who you are to take advantage of these fast cash loans.  These are no credit check loans, so anyone who applies will qualify, no matter their credit score.  Also, it’s possible to get your money within minutes with the best lenders.

Many people look down upon payday fast cash advances and their lenders, but the truth is that it’s a great way to get the cash you need to cover unexpected expenses when you’re between paychecks.  Consider the fact that 50% of Americans live paycheck to paycheck, there are just as many people who’ll be likely to turn to a payday loan as there are those who wouldn’t.  It’s a legit way to get a quick boost of cash when you need it, and a much more affordable option than continually paying overdraft or late fees.

What Is A Payday Cash Advance Loan?

A payday cash advance loan is an unsecured, short-term loan that gets you money based on how much money you make at your job.  Secured loans, like title loans, require you to put up collateral to get your loan.  You’ll need a paycheck stub (or two with some companies) for them to verify your income.  With most payday lenders, you’ll also fill out a form that is a general run-down of your monthly expenses for them to determine how much they can lend you.  After they’ve determined how much money to lend you and you receive your cash, you’ll have to pay it back after your next payday.  You’ll usually post-date a check for the amount you owe, plus interest, for the date your loan payment is due, but some companies require your bank account information so they can withdraw it directly from there.  If you have a choice between the two, choose the post-dated check.  If you happen to get behind on paying the loan back, the last thing you want is for them to have direct access to your account.

The payday loan industry is loosely regulated, so this means that if you do some research you can save yourself a lot of money in interest.  The average interest payment is $25 per $100 borrowed, but some companies have rates as low as $10-15.  If you can get a rate like this you’ll save $100-150 for every $1000 borrowed, that’s a big chunk of change!  A fast cash payday advance is an expensive way to get money, but nothing beats it in a pinch!

Online payday advance loans are also an option for getting fast cash.  These operate very similar to storefront lenders, but tend to have higher rates than their storefront counterparts.  They’ll usually operate in states that allow very high rates so they can charge them.

My Payday Advance Story

I relied on payday cash advances for a while a few years ago.  It was back to school time and my son needed new clothes and supplies, I had no money to take care of it, and needed a fast cash loan.  I headed down to my local payday lender (without researching other lenders) and got a payday advance with a rate of $30 per $100 borrowed.  Pretty extreme!  During this time I got sick and missed a few days of work, which hit me big on the paycheck after the one that I paid back the loan from.  In turn, I had to get another payday loan to help me cover the money that I missed from being sick.  I started falling into the trap of payday loans, and needed more loans to pay back other loans.  It got pretty crazy for a while, and I almost lost control.  Luckily, I got a large bonus from work and was able to get myself out of debt.  The lesson here is that payday cash advance loans are great, as long as you don’t rely on them to stay afloat.

Thanks for reading!

-Lydia

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