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Cash AdvancePayday LoansPayday Loan Information

Payday Advance

To seek a payday advance or not to seek. That is the question on many a fine consumers' lips when concerned with the payday advance lenders.

Payday Advance - Lending Solutions

Okay - what is implicit in your being here is that you clearly need some cash. You've thought about getting a payday advance after seeing them advertised everywhere, but should you? It's tough to decide when there's so little information out there about the actual details of a payday advance. It seems as if all the payday advance companies want you to know is that you'll get up to $500 deposited into your checking or savings account, yet they conveniently leave out the details. It's crazy to expect a person to sign up for a $500 loan without any real information. That's where Payday Loan Info comes to the rescue. We exist for the main reason of schooling you in payday advance company etiquette.

Defining the payday advance

First off, let's get the mandatory, basic definition of a payday advance out of the way. First, the lender gives you your paycheck at or closely around the time in which you've requested it (generally up to $500). When your next paycheck arrives, you're expected to pay back your loan amount plus a fee. If you can't pay back your payday advance when your next paycheck arrives (which is often the case), you have to repay the fee again.

Payday Advance fees are fairly reasonable as a one-time charge (generally less than $90), but can quickly stack up to ridiculous amounts if you let your payday advance go unpaid. In fact, computing the interest on a payday advance can exceed 400%! These loans were never meant to go beyond the term of your loan. As the FTC can tell you, a payday advance can result in debt fairly easily if you miss a payment. For these reasons and more, it's important to be extra careful when taking out a payday advance loan.

Payday advance requirements

To apply for a payday cash advance, first and foremost, you'll need a job. Because you're talking about a payday advance, it's not unreasonable to be expected to have regular paydays coming. Your paycheck normally must exceed $1000 per month and you'll never get lent an amount that is more than your take-home pay. Also, an online payday advance will require you to have a checking/savings account with direct despoit, because that's the fastest and most cost-effective means of transmitting money. Finally, in some cases, you'll be required to have access to a fax machine to submit documents in order to qualify for your payday advance. Payday advances are earning a reputation for their low requirement level.

Payday advance repayment

How long will you have until you need to pay back your advance? Well, according to Paychecks in Advance, their payday advance terms run between 7 to 18 days. Of course, the schedule depends on your payday schedule! You'll be paying back your payday advance on your next payday, so it's fairly easy to compute your own payday advance schedule. It's important to remember to pay back your loan on time or earlier (there's usually no penalty for prepayment), or else run the risk of debt!

Payday advance assistance

We hope we helped you in figuring out a little about the payday advance loans before you apply. If you have any questions, please don't hesitate to email us. Remember, always pay back your loan on time and you should be safe. Good luck borrowing and be weary of payday advance sites that hide information from you. You'll want to safeguard yourself beforehand by researching the credibility of the payday loan provider beforehand. Where can you get this information? Try the Better Business Bureau website and also, there is www.ripoffreport.com. These are two excellent places to check to see if other consumers have written their stories or registered complaints about their negative experiences with the payday advance lender.

Play your cards right and you will survive your payday advances experience. Don't fall into a repetitive pattern. For some, these loans are said to be habit forming. Don't fall into that trap. Grab your fast payday advance, take care of business and move on.

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