Do you have a bad credit rating? You are exactly the type of person that the payday loan companies are happy to lend to. Mostly they don’t do a credit check because they know you are desperate and will sign their forms without reading them fully. This speeds up the process of getting cash in hand but it does lock you into their terms. Please read their form fully before signing and if you don’t understand anything ask for an explanation, this is your right as a consumer so if they try to push you – leave. Take the form and get help from someone you trust and has some experience in reading legal documents.
There are two ways to to get an instant cash loan, apply online or at the front desk of the payday loan company. Both have their advantages and one of those is that the companies can respond rapidly. Some online short-term loan companies promise a 24-hour response, but not for all clients, you can be sure that you will receive a response from all of them quickly.
Every payday loan company wants to give you a loan as quickly as possible so they will respond fast. These companies take great pride in responding rapidly because they understand your need for fast cash. Keep in mind that they are in the business of providing loans and cash advances for profit, theirs not yours.
Under what circumstances should you apply for a cash advance? Mostly when you have no other alternative due to poor credit, lack of ready cash or other financial hardship. There is a trap here which catches some people out in a big way.
No matter how tough it is you absolutely must follow the repayment plan as set out and not miss or be late with a single payment. The penalties for missing or even delaying a payment are harsh and this can make it difficult to get any future help if you need it. If at all possible you should try to get one payment ahead of the schedule as that can provide a buffer should you desperately need it, don’t make the mistake of relying on that though.
Depending on the type of cash crisis you are facing you may be better off selling your car, television or some other item that you own rather than adding more debt to your financial woes. If the cash problem is one of delayed salary or other payment then a small load may be of benefit to you. Make sure that the loan is less than the amount of payment you are expecting and make sure that you absolutely will receive the money before the loan needs to be repayed.
While there is no obligation for these companies to accept your application, if they do, read the loan agreement very carefully as it will spell out the repayment schedule and the interest rate and penalties.