Fast Cash Loans or pay day loans are small loans advanced by
lenders within quite short time of application. Fast cash loans
are available to one and all today irrespective of the credit
history, FICO Scores etc. In case you require cash for any
urgent needs, there are available lots of lenders who will give
you money with minimum of paperwork. You get around 30 days to
pay this loan back. The loan can cover your urgent needs such as
medical bills, car repairs etc.
The loan approval is quite simple. You just need to give
elementary information as well as a check covering the loan as
well as the fee. Once approved (it takes hardly any time for
that also) you are advanced loans from $100 to $1000 .Within 24
hours, your account is credited with the money. Since, it takes
hardly any time, its termed Fast Cash.
In fact, if you perform search on internet you will find hoards
of companies who offer such loans. These online lenders do not
check your credit history etc. At best, they verify your bank
details and then advance the loan. If you are employed with same
employer for more then six months, the process becomes yet
Taking a fast cash, Pay Day loan does not affect your credit
history. The fee ranges from $30 to $100.You can repay this loan
within 30 days or next time you get your paycheck. This is a
very easy source of fast cash.
In case once you get your paycheck and you can not pay the fast
cash loan, most lenders will allow you to extend the term also.
This however means that you will need to pay steep interests on
The rates of interests vary for loan amounts as well as lenders.
When you need fast cash loan, always make a check of all the
lenders possible .An online search will tell you various rates
they are offering. Find the one with cheapest rate. The
competition amongst lenders is huge so you will be able to find
the best rates easily. These rates are important as in case you
default or rollover, the APR charged might be as high as 4000%
in some cases.
The ease of availability sometimes lures borrowers into a habit
of taking these fast cash loans every other time. This needs to
be avoided. Budgeting is extremely important if you often find
yourself high and dry. Try to make use of fast cash loans only
when it's a dire emergency. The habit of living one fast cash
loan to other is not good.
Fast Cash loans are legalized but some companies have been less
then honest in their dealing with borrowers. They charge
exorbitant rates and fee of processing the loans from the
borrowers. You must know that Truth in Lending Act requires the
lender to disclose all the fee and rates on interests charged.
But it's up to you to find out what are the rates etc. Always
read the fine print. In fact its advisable that you must spend
24 hours in taking the loan understanding all the terms and
conditions. Although the lenders say that the loan will take
hardly an hour, its best that you take an informed decision.
The Traps And Pitfalls Of Payday Loans
Are you looking for some quick cash? Need to fix something or pay for something today, but you donít get paid for a few more weeks? With many people living paycheck to paycheck, this type of problem is common. Unfortunately, we all donít have a...read more