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Borrow Now, Pay Later With One Hour Payday Loans
Needs arise between paydays requiring immediate cash in today’s world on a daily basis. The demands on our monetary lives can become overwhelming. A small automobile accident, academic expenses or everyday bills can put a strain on budgets already spread too thin. If you do not have savings to rely on, the situation may become urgent. Taking heed of the economic situation these days lending institutions have devised the one hour payday loan to help overcome these financial hardships. Lenders who offer these loans are willing to extend cash to financially strapped consumers for a short time with no collateral or credit check.
The reason they can do this is because you as the borrower assure the lender that your next paycheck will cover the amount of the loan. Payday loans are generally issued for smaller amounts ranging from $100 to $1500 and for a short period of time, usually no more than 14 days. These types of transactions are speedy and available to you in a matter of minutes when conducted online. The requirements for acceptance are minimal. 18 years of age or older, employment of at least 3-6 months with a minimum income of $1000 per month and an active bank account set up with direct deposit. In some cases having filed for bankruptcy in the past will affect your approval status. Once your information is verified the lender simply wire transfers the money to you directly to your account, at which time they become available to you.
Interest rates on payday loans are not cheap. Anywhere from 15 30% is generally charged by the lender. That means that at the high end of this scale for every $100 that you borrow you will have to repay $130. That is some serious interest but the lender needs to charge this amount to make his involvement worthwhile as they are generally only going to collect one payment from you. In effect you are writing the lender a post dated check for the amount of the loan plus interest and any fees.
Repayment of one hour payday loans on time is extremely important. Do not forget that you had money problems to begin with. Many people after repaying a payday loan find that they now have no cash to carry them through until the next pay period so they turn around and immediately apply for another one hour payday loan. This does nothing but begin a vicious cycle that many consumers can not recover from. Short term one hour payday loans are an excellent and many times the only option available to most but be responsible and judicious in their use. Plan ahead. Know exactly what your costs are going to be. Keep in mind that once your loan is paid off you still need enough money on hand to carry you through to the next pay period. One hour payday loans should only be used in true emergencies. Use them sparingly and they can be a real savior in times of need.
Easy Cash With One Hour Payday Loans
Extra cash is something that we all need from time to time. For a myriad of reasons emergency situations pop up that put a strain on or financial condition. In the past when these emergencies occurred the options you were left with were few. You could either borrow money from friends or family or you could attempt to take out a traditional loan from an established lending institution such as a bank or credit union. The latter option with its tedious paperwork and credit checks often took entirely to long to secure. These days there is a better option, the one hour payday loan. These loans give you the option of borrowing a smaller amount of cash, usually between $100-$1000, safely and most importantly, quickly.
Although walk-in establishments do still exist, one hour payday loans are most easily accessed online. This convenience also holds less embarrassment of having to lay out your financial inadequacies face to face with another human being. The application process is amazingly simple. As long as you are 18 years of age, have held a steady job with verifiable income of at least $1200 – $1500 a month for the past 90 days and have an active bank account with direct deposit set up you have met the minimum requirements to secure a quick cash advance.
You simply need to browse around online and find a lender that suits your needs. Since one hour payday loans are secured against your paycheck, most people have an easy time qualifying for them. Whatever your situation might be there is a lender that will work with you. Cash advance establishments are eager to help you with your financial hardships. This is how they make their money so most will bend over backwards to appease you. The online form is very simple and basic asking you for personal information such as your name and address and your banking information. Your promise to repay is made with a post dated check to the lender. For this reason there is no need for a credit check and no collateral is required.
Once you submit your application its approval takes just minutes. When your one hour payday loan is approved the lending institution electronically transfers the funds into your bank account at which time they become instantly available to you. Most times the entire procedure takes literally minutes. Upon the arrival of your payback date the lender simply withdraws the money from your account in the amount of the loan plus interest and any fees. These loans are short term, rollover time is quick and interest is high but this is the price you pay to have this type of quick cash available. But in the end, when used responsibly one hour payday loans can be a real saving grace in time of need. Obtaining them is quick, easy and safe as all transactions are completed over secure lines. One hour payday loans may not be able to solve all your financial needs but they sure can help take care of those unexpected bumps that pop up in the middle of the month.