Tag Archives: personal loans
Cheap Personal Loans For Your Delight
There are many different types of personal loans which can be used for almost any purpose you can think of. Nowadays, lenders are offering better terms and lower interest rates, qualification for these loans has become less harsh and more accessible for the average consumer. It is a mistake to believe that only those who are in debt seek to obtain a personal loan. In fact, there are many borrowers who not only are not in debt but who also have a good credit standing.
Cheap personal loans are fantastic financial tools which offer endless benefits. They are easy to qualify for and allow you to obtain excellent terms and low interest rates. Would you like to learn more about them? Then keep on reading.
Before Searching For Your Cheap Personal Loan
Before even trying to see whether there are any lenders out there offering cheap personal loans, it will be a wise idea to take a closer look at your financial standing. Take note of your monthly income (and that of your husband or wife, if it applies), your monthly expenses, your monthly savings, etc. Once you have the accurate information, you will be able to know how much you can afford to pay on a monthly basis. Many borrowers have made wrong choices when it comes to loan terms because they did not even bother to find our how much money they could afford to repay.
Also, bearing in mind the exact sum of money you need will really come in handy when finally applying for this loan. If you have not figured it out yet, you still have the time.
Cheap Personal Loans: The Advantages
There are so many advantages to this type of loan that people often wonder whether they actually exist. True, cheap loan lenders are hard to find, but are completely worth the effort. They may offer: hassle-free applications which require no credit or background check, lower interest rates, availability to borrowers with bad or poor credit, no need to offer a collateral, excellent repayment plans and affordable monthly payments, ability to borrow up to $25000, fast loan approval, decision on how to use the funds is up to the borrower.
Cheap Personal Loans: Finding The Right Lender
As stated before in this article: it is not easy to find a lender offering this type of personal loan as the risks undertaken are often many. But you should not panic, you will be able to obtain the kind of finance you deserve, it is all a matter of research.
The net is a good place to start your search: it is fast and you can do it from the comfort of your own home. You will find an enormous amount of lenders offering this type of loan, but it is to be expected that not all of them are decent lenders. I would advise you to get in touch with each of them to find out exactly what they are offering. Request loan quotes so as to get a better idea of what they are offering and remember that you should not be charged for loan quotes, it is not illegal to charge for them, but most lenders offer them for free. And the golden rule: if they ask for upfront money to secure a loan, run away!
Personal Loan vs. Payday Advance: Which is Better?
So youve found yourself in a bit of a financial bind, and need a little help to get through it. Dont be embarrassed; its happened to just about everyone at some point or another. What you need to do now is figure out how to deal with it in the best way.
And if your credit cards are maxed out, and your family members or friends cant help, there are only a couple of real options: 1) a personal unsecured loan, or 2) a payday advance.
Both Personal Loans and Payday Advances may help get you out of a short term financial jam. So now comes the very valid question: Which is better? Well, that can depend a lot on your personal situation, and what you hope to get out of the situation (besides the obvious cash). So lets take a quick look at both.
PAYDAY ADVANCE (LOAN): Its a cash advance, not a loan!
Many people refer to this option as a payday loan. However, the more accurate description is “payday advance.” It is not a loan. It is a cash advance with a large fee. You write a check to the Payday Advance company. They typically give you 80% of the check amount in cash, and then they hold the check until your “payday” which is typically when the money to cover the full amount of the check will be in your checking account. The Payday Advance company then deposits the check and keeps the 20% as their fee for the cash advance.
Odds are youve seen the brightly lit signs of a Payday Advance shop next to some liquor store or in a strip mall, or you have seen them advertised on TV, in e-mails or in banner ads online. The amount of money Payday Advance companies can provide is limited by state law and is typically a maximum of about $500. In California, the maximum advance is $300.
So, the advance may be enough to get you through small cash emergencies when youre between paychecks. If you need a quick couple of hundred bucks for groceries, if your cars alternator goes out, you chip a tooth, etc a Payday Advance might be a viable, but very expensive, option.
However, very often a Payday Advance is only enough to delay the cash emergency for a few weeks, and not enough to get you totally out of it. As a result many people find themselves getting multiple Payday Advances, which can be extremely expensive when each advance costs you a 20% fee. Ten payday advances over the course of year would equal an effective interest rate of over 200%! A very expensive way to go.
And, since a payday advance is not an actual loan, it can do nothing to help your credit status.
PERSONAL LOANS: Get much more money at a much lower cost.
A personal loan is actually a loan that you repay over time via affordable monthly payments. You can get much more cash than you get from those payday advance places – and you dont pay a 20% fee over two weeks!
Of course, if your credit isnt perfect, your bank will turn you down very quickly. However, CashCall makes personal unsecured loans, up to $5,000, to people in a cash jam, who have less than perfect credit! This is the kind of money that can really help if youre facing major car repairs, medical issues, looming bills, etc. The loan money is placed directly into your checking account in about a day, and there are no limitations on how you can use your cash. Its up to you.
A personal unsecured loan from a company like CashCall doesnt require any collateral or security. You dont need to be a homeowner, you dont need to turn over the title to your car you dont need to do anything except apply, and provide some simple paperwork. The cash can be in your checking account the next day.
You use the money to get out of the jam youre in. And then, you can either make the affordable monthly payments or repay the loan when you can. There are never any fees or penalties for repaying the loan early, and you will minimize the interest you pay by repaying the loan sooner rather than later.
Another benefit of a personal loan from CashCall is that you can actually improve your credit score by making your monthly payments on time. Thats right, you can rebuild your credit because CashCall provides all three credit agencies (Experian, Transunion, and Equifax) with your payment information because it is an actual loan, not a cash advance! And in the long term, thats the kind of thing that can truly get you back on your feet.
CashCall Personal Loans offers high-interest-bearing, unsecured term loans to qualified borrowers who typically use the loans for one-time purchases and debt consolidation. These loans of up to $5,000 are processed entirely over the Internet, phone and fax, and funds are wired into the borrowers checking account typically within 24 hours. CashCall Personal Loans are a good alternative to Payday Loans for borrowers. While interest rates are high, they are typically much lower than those of payday lenders, and CashCall Personal Loans have the potential to help customers rebuild their credit score by making payments on time.