Need a loan to tide through your difficult period
What to do if you need fast cash now or short term loans to pay the bills, buy groceries or to meet some emergency expenses? Should I get a payday loan? Besides pay day loans, what other options do I have?
There are 3 options you can consider to get some cash to tide through your difficult period. They are:-
1) A credit card or a pawn loan is one option.
2) Some employers offer advances or emergency credit. And don’t forget about help from family or friends.
3) Or you can approach a payday loan outfit to get cash during your difficult period.
The payday loans might seem like a good idea. The promise of quick cash is enticing to many people. The pay day loans are typically viewed as helpful for unexpected bills or emergencies. Even though borrowers complained that they charged a higher interest rate than other financial institutions, most agreed that the terms of the loans were clear and they would take a payday loan on any terms offered
Going to pay day loans stores is a convenient and fast way to get a few hundred dollars if you need money to tide you over difficult period.
A payday loan is a short-term loan, often for $500 or less. The lender offers the money for a fee, and you agree to pay back the loan within one to two weeks, or up to a month later, after your next payday. In order to get a payday loan, you usually have to give the lender direct access to your bank account or provide a post-dated check for the full amount of the loan. This way, the lender can take the money from your account as soon as your next pay check hits. Payday lenders are easy to find and are available both online and in brick-and-mortar storefronts.
In the traditional retail model, borrowers visit a payday lending store and secure a small cash loan. In the more recent innovation of online pay day loans, consumers complete the loan application online. The funds are then transferred by direct deposit to the borrower’s account, and the loan repayment and/or the finance charge is electronically withdrawn on the borrower’s next payday.
Pay day loans are marketed heavily to people who have difficulty in making ends meet each month. Payday loans are easy to apply for. The way the business make money is through the fees and the fact that many of the customers come back again and again justifies it as offering a much needed service to people who may need a little help from time to time.