Payday Loans and Fast Cash Guide

Find an Easy Payday Loan

Finding an easy payday loan is, well, easy.  You just need to figure out how you want to get the loan in the first place.  There are lots of different ways to get payday cash advances, so we’ll take a look at each method in this article and how to make the process as easy as possible.  The great thing about this country is that, even with bad credit, you can always get fast cash!

The foundation of all payday loans is the same.  You need to have a job or some source of income (some payday lenders offer loans for unemployed), proof of who you are, and a bank account.  They loan you money until you get paid again, and at that time your loan is due to be repaid.  The loan is repaid with a post-dated check or automatically withdrawn from your bank account.  There is no credit check involved, so even those with terrible credit can get money when they need it.

There are essentially three types of payday loans; the traditional payday cash advance, online payday loans, and faxless online payday loans.  Really, they all work the same, but there are some things that you need to know about each one so that you can find the quick easy payday loan that you’re looking for!

Easy Payday Cash Advance

With a traditional payday loan, you’ll head to a store that also does check cashing, sends money, and all sorts of other things that people with bad credit need.  You fill out a form that states how much money you make, who you are, and what your basic living expenses are and give them that along with some paycheck stubs and your ID.  they take your paperwork and process it to determine how much money you can borrow.  Since there’s no credit check involved, just about everyone who applies will qualify.  The things that normally keep people from qualifying is not having the proper paperwork, or not being at a job for long enough to show what their income is really like.

The way to make this a fast, easy payday loan is to go to a payday lender that you’ve already done business with.  They keep records of all of your transactions, so all of your stuff is already going to be on hand.  This makes it very fast and easy to get your money.  If you don’t have a history with a company, speed the process up a ton by giving them a call to see what you need to bring with you ahead of time.  Having everything with you already will make the entire process easier and you’ll get your money faster.  Each company has their own terms for what kind of paperwork they need, so be sure to follow this step.  Many companies will get you money within the hour if you have all of your poop in a group!

Easy Payday Loans Online

The easiest payday loan online is the one that doesn’t try to rip you off!  I’m certainly not saying that all online payday lenders are bad, but some of them give all of them a bad name.  All of their applications are going to be fairly the same, as will the approval process.  If you know someone who has used an online payday loan before and had success with them, use that company.  If not, spend a little time reading reviews of them so you can figure which ones are legit (I know that isn’t fast or easy, but it’s your money we’re talking about here!).

Again, have all of your stuff together before sitting down to apply.  Have your paycheck stubs and bank account number with you.  You should already know where you’re going to go to fax the application back.  There isn’t a bigger headache I can think of with all of this than when you need money, but can’t find all of the stuff you need to get it.  So get your paperwork together beforehand to get an easy online payday loan.

If you can’t find (or figure out how to use) a fax machine…

Easy No Fax Payday Loan

These loans are so easy, they get a separate section from regular online payday loans.  Easy faxless payday loans are a breeze, but the same rules apply that you have to find a legit company.  Many of these companies will operate in states that have very loose laws and regulations on payday loans and have no problem charging you extreme interest rates!

For those that don’t know what a no fax payday loan is, it’s essentially the same as every other loan outlined above, but there’s no physical information sent off for approval.  The entire application and approval process happens online, and you’ll prove your identity, employment, and bank account information virtually.  There’s usually an automated phone call that they use to very some of the information, so you may need to have your cell phone with you.

From start to finish with some companies you can apply, be approved, and get your cash all within an hour.  Easy, fast payday loans do exist!

Always remember that the risks involved with a payday loan are high, and relying on them to make ends meet is dangerous for your financial health.  In order to get the lowest rates and most lenient terms, you should look for a brick and mortar lender in your neighborhood.  If there aren’t any, or they aren’t allowed to operate in your state, you should look for loans online.  Either way, be sure that you’re going to be able to pay it back before signing up, and if not you should look for other means to get easy money.  Spend some time cruising around this site, you’re bound to find an idea that will help you get the fast cash you need!

Thanks for reading,

Lydia

What You Need To Know About Payday Loan Lenders

Not all payday loan lenders are created the same.  I’m not going to tell you not get a payday cash advance, but I’ll show you some of their sneaky tactics and how to avoid them.  For every reputable and honest payday loan lender out there, there are three that are out to scam you.  Knowing how to spot them will help you keep as much of your own money as possible, and save you from a monster headache later!

Keep in mind that the interest rates on payday cash advances are always going to be high.  Consider the fact that the average rate in the United States is $25 per $100 borrowed, which means that high and low rates could be as varied as $1 and $50.  Usually, the more reputable companies are going to have rates that are close to that average amount.  If you find one that’s way higher or lower, something fishy is probably going on.  One of the largest and most reputable payday loan lenders is Check Into Cash, and their rates fall right into that average (no, I don’t work for Check Into Cash!).

Unfortunately, it’s the first time borrower and the people who don’t do any sort of research before accepting a loan that are the ones that get into the most trouble.  They simply don’t know any better or have a decent understanding of what they’re signing up for.  Payday loan lenders don’t make their policies very clear, so it leads to many people learning as they go, which can be trouble if mistakes are made along the way.  You probably aren’t going to have that problem since you’re already here reading this, but it might be good to share some of this info with anyone you know that is getting their first payday loan.

Direct Payday Loan Lenders

Direct payday loan lenders are the storefront lenders that you’re used to seeing around your town.  They usually operate as check cashing, or money transfer stores as well, and can be an important resource for people who have bad credit or don’t have a bank account.  Since many of these stores are in rough neighborhoods they usually have a big bulletproof glass window between you and them, don’t let that intimidate you, just get what you need and get out!

The biggest thing to watch out for with direct lenders is the interest rates (like we discussed earlier).  Remember the $25 per $100 number when you’re reading through their terms.

I should probably say that you must read their terms and the fine print!  Read through what happens if you fail to make a payment and make sure that you clearly understand the consequences.  Each lender handles this differently, and if you have to give them your bank account information (more on this later) you can end up in very serious trouble!  If you have a hard time understanding their legal mumbo-jumbo, bring someone with you that does.  It’s extremely important that you understand this stuff!

Since these are no credit check lenders, they aren’t going to have records of other outstanding payday loans that you have.  This means that you could (but shouldn’t) have multiple payday loans out at the same time.  This is very dangerous, and a trap you probably won’t get out of!  Like my mom used to tell me, “just because you can doesn’t mean you should!”

Online Payday Loan Lenders

To put it bluntly, some online payday loan lenders operate well out of the bounds of the law.  They work in states that have loose regulations on payday loans, and will lend to people in any state.  So what this means for you is if you live in a state like Illinois that has a maximum interest of $15.50 per $100 borrowed, and an online lender that you want to borrow from is based in South Dakota (a state with loose laws), they’re probably going to charge you well beyond what’s legal in your state.

I have to say that not all online lenders operate this way.  Many of them are legitimate, honest businesses, that are looking to help people like you and me out.  The hard part is figuring out which is which.  This, again, boils down to reading the fine print.  Understand all terms before you sign up for anything!!

I’m sure that you already know that you’re going to be in a rough situation if you miss your payment on a payday loan, but it’s worse with online lenders.  At a direct payday lender, you’ll write a post-dated check to repay your loan.  With online payday lenders you give them your bank account information and they automatically withdraw the money from your account.  Yeah, it might be easier, but when a dishonest payday lender has your bank account info and you miss a payment you’re now open for serious trouble.  They’ll keep leeching money from you until they get what they want!

Faxless Payday Loan Lenders

Most of the same issues that online lenders have, no fax payday lenders have as well.  It’s essentially the same business, but with a different application process.  Identity theft is a worry with faxless payday loans, since anyone who has your stats can probably get a payday loan under your name, but I’ll save all of that for another article!

I have to reiterate that I’m not telling you to avoid payday loans, you just have to know what you’re signing up for!  I’ve used them with success many times, and a few times without, and I’m just sharing what I’ve learned through all of it.  Payday loans are a great way to get the fast cash you need to make ends meet, and to cover unexpected expenses.

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

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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