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Payday cash loans- Say bye to mid month crisis now
Do you need quick solution for your immediate financial needs? Searching for the ideal financial assistance that can be suitable for you in every way? To get rid from short term financial hardships, payday cash loans are the hassle free answer for you. These loans help you to meet all your unexpected or urgent cash expenses within short span of time without following any complex procedure.
Online application avails you payday cash loans help within few clicks of the mouse. You just need to devote few minutes in filling the online loan form with little personal details. You dont need to leave the comfort of your home neither required to waste your time in standing long queues. Once you get the approval, the loan money will directly transfer in your checking account within hours.
In order to apply for payday cash loans without any hindrance, you need to qualify certain eligibility criteria:
1. The borrower should be a permanent inhabitant of US.
2. He should be over eighteen years or more.
3. You must possess an active checking account that should not be more than 3 months old.
4. Working in the reputed organization from the past six months.
5. You must earn the minimum of $1000 per month.
If you are scared of disclosing your credit status, relax because payday loans Chicago are free form credit verification process. Now no need to get embarrassed if you are holding various defaults like arrears, CCJ, bankruptcy, insolvency etc, you are eligible with every case.
Payday cash loans allow you to borrow short term loan money that can be ranges from $100 to $1500 for the time period of 14 to 31 days. Borrowed money can be helpful in taking care of numerous financial urgency that can include as follows:
-Grocery bills
-Unexpected medical care
-School or tuition fee of your child
-Sudden travel expense etc.
Payday cash loans are an easy way to make your ends meet with lot convenience.
How do payday cash advances work?
Payday cash advance loans are essentially short-term loans that may use a borrowers paycheck as collateral. Working individuals who are mainly dependent on their paychecks for money may occasionally find themselves in a spot where an emergency requirement arises and the next paycheck is still far away.
In such instances, lenders offer cash advances to adult individuals with an assured net income of at least $ 1000 per month. The loan amount is to be repaid by the borrower in full on the next payday. Cash advances charge a rate of interest of up to 20% and should ideally be taken in small amounts so that they can be repaid easily. The high rate of interest is charged as these loans are short term and given without a credit check. Most lenders offer a first-time payday cash advance of up to $1000.
The process of applying for and obtaining a cash advance is automated and can be carried out online. The borrower is required to submit a short application, which is usually replied to via email. The money is transferred to the borrowers account upon the signing of the loan agreement and submission of postdated checks. Alternatively, the lender can directly withdraw money from the borrowers account on the designated due date. Inability on part of the borrower to pay the loan in full may imply a violation of the loan agreement which can prompt the lender to demand non-sufficient funds (NSF) costs. If a lending agency chooses to refer a borrowers poor payment record to the credit bureau, it can harm a persons credit score and affect his chances of obtaining a loan.
Ideally, a person should refrain from taking payday cash advances often as these incur a high rate of interest. They should be kept as the final option when loans from friends cannot be availed and credit cards cannot be used. Factors that affect the approval of a payday cash advance include federal and state lending regulations, net income, and existing previous payday advances or other loans. Usually payday cash advances are scheduled for payment 15-18 days from the application date. Individuals can avail only one payday cash advance at a time from a given lender.
Lenders allow for an extension of the payment date and deduct an extension of payment fee on the original due date. There is a limit to the number of extensions allowed by the lender. Most allow up to four extensions of the payment date. The next scheduled date for repayment is usually the date of receiving a paycheck.