Tag Archives: cash advance
Payday Loans
You see them in every strip mall east and west of the Mississippi: Cash Advance, Cash-N-Go, Check Into Cash, Urgent Money Service, and the list continues. What exactly are these businesses that seem to offer you money right when you need them? They are cash advance companies which often make loans commonly called payday loans. In many ways, these companies have become the country’s modern day loan sharks. No, they will not cut off your thumbs or pour cement around your feet and make you swim with the fishes. They will, however, torture you with fees, upon fees, upon fees.
So what is a payday loan? A payday loan is a cash advance loan. The loan in itself is held by a personal check. For example, you could write a personal check for $135 in order to borrow $100. The check casher will agree to not cash the check often for fourteen days. This can be extended if needed, but not without a charge. Many people use it to bridge the gap between pay checks. But the Federal Trade Commission calls it “Costly cash”, and for good reason.
Using the example above of a $100 loan for a check of $135, you will see when the math is done how truly costly a Payday Loan is. When you are in desperate need, the $35 seems miniscule. But, when you consider that this charge will occur every fourteen days if you do not pay, this equates to 650 percent APR. A bad credit card will offer you 28 percent APR. When you choose this option, you are going to pay much more in charges and interest and could find yourself even deeper in debt.
So what are your alternatives? If you seriously cannot make it until next payday, there are other options you may have instead of taking out a payday loan. Sort your bills. Choose which ones can wait until next pay day and make them wait. If you have creditors, you can negotiate a new or temporary payment plan to see you through.
Cash Advance with No Teletrack get Cash without having to Wait
Nowadays loan companies are just blooming around and they are coming up with new and amazing loan schemes regularly. Now, its the crowd of borrowers only which makes them to do so. Its true that middle class families in UK face a lot of financial crisis during the month and cash advance with no teletrack is just the best to help them out.
You can land up into any kind of emergency in the middle of the month. It can be paying the monthly bills, meeting the unexpected medical crisis or just taking your family to a weekend holiday. And one more point should be stressed at this point that the time to get the loan sanctioned is really little here. Chances are there that you can get the money in no time; may be within hours.
What makes it the best
More than 50% of the earning people in UK are going through credit problem and it becomes a bit tough job to get a loan with proper terms and conditions when you are having credit problem. But with cash advance where there is no teletrack it is no more a big deal now. You will not be enquired of your credit status. And every UK citizen having a regular income of & 8356;2000 or above is eligible to apply for.
An amount up to & 8356;1500 can be secured through cash advance and moreover without any teletrack. But the lenders to put themselves at a safer side may charge you with a high interest rate and sometimes it may be as high as 25% of the amount taken. In the case of default in repayment which is generally 10 to 20 days you will be struck into more serious problem being penalized with great charge.
As borrower needs the money in no time, so more and more lenders are coming online, giving an opportunity to do a lot of search on them and offering this cash advance. It takes hardly an hour to find out the lenders having terms and conditions suitable to you and applying for the loan. And you get the money definitely the very next day.
Summary
So if anyone going through a financial crisis in the middle of month and finds no source of fund to meet the crisis then this cash advance without any teletrack will definitely help him out.