WHY A PAYDAY LOAN?
by Brandon Drury
At one time or another, maybe several times depending on your good or bad luck, an emergency
will arise that a quick infusion of cash will solve – but you are like so many of us that just make it
from one payday to another. And you have little, if any, savings!
Maybe your auto mechanic gives you some bad news. You just came in for an oil change. He
checked your brakes and they are in bad shape and need to be replaced right now! Two hundred
fifty dollars will take care of it but you do not have that type of cash on hand. You don’t want to ask
your brother-in-law again and have to listen to him tell you what a poor money manager you are.
You cannot go to Household Finance Company or any of those loan companies because you
need only a small loan for a short time. You don’t want to be locked in to a minimum loan of
$2,500 for a minimum payback period of one year. Besides, you wouldn't pass the credit check
and your credit cards are all maxed out!
What about the bank where you have your checking account? Forget it! Same deal, poor credit
history. And the loan officer would snicker at a loan application for such a small amount of money.
But wait! Remember those ads you saw when you were surfing on your computer? The ones that
promised “Immediate approval with no credit check. Bad credit, no credit not a problem. Get your
cash now.” Think about it! You can get square with them in one or two paydays at most. Maybe
the charges are a little high but solving your problem now – without a hassle – is worth paying a
little extra.
You can apply for an online cash advance on your computer from the privacy of your own home.
Since you’ve been on your job for over three months, all you need to do is give them your
employment information. You have a checking account with some history and have not bounced
any checks for well over a year. And you haven’t had a previous online cash advance. Fill out your
loan application right now and you should be approved in an hour or two.
They will direct deposit the money right into your checking account and you can give your auto
mechanic the okay to fix your brakes. Yes, you saw the interest rate on your loan. Depending on
the state you live in, the fee will run anywhere from $15 to $20 per hundred. If you roll over the
loan to your next payday, the fees will double but hey, peace of mind now is better than being
stressed out without your car.
Do some homework on your computer and see which one of the online payday loan companies
will give you the best deal. Learn what annual percentage rate (APR) is all about because it
makes a big difference in who has the better terms. If you know someone who has done
business with a payday lender, ask them about their experience. Hopefully, you will find a lender
who is content with a fair profit and a satisfied customer who will recommend their friends and
come back from time to time when a small, short-term loan will solve a sudden financial
problem.
About The Author:
Brandon Drury owns and operates his own payday loan information site:
http://www.pdadvance.com.
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