A Cash Advance May Be For You
Most people have heard about payday advances, but they do not understand how payday advances work
. Before businesses grew into conglomerates, people could go to their boss and ask for a pay advance.
When an emergency struck, they could access their future wages to pay off today's debt. Corporations are too big to offer this service to their employees.
Now, consumers can use an online payday advance service to access their cash. People do not realize that their future earnings is their wealth.
They are barred from borrowing against their wealth in a vicious cycle that has forced the world into an ever increasing spiral of debt. Pay a utility bill late and the ripple effect will leave a footprint on your credit rating that will increase your credit card interest, mortgage and loan interest, and add penalty fees.
Most people have the wealth needed to pay their bills; they just have no access to it. This problem is compounded in the United States where people are turning to a pay day advance service company to manage the skyrocketing utility bills, high mortgage payments, and out of control interest rates.
Not all payday advance loans work the same. Some of the companies are as intrusive as the banks.
They demand an almost endless number of documents as proof of earnings, residency, and a host of other documents that tap into your private information. A cash advance can be easy to apply for; it all depends on the company you chose to work with.
The money from cash advance loans are deposited into your account, quickly. The pay day cash advance is loaned for 14-30 days, at a fixed interest rate that is currently lower than many credit cards.
The payday advance company works with you to help protect your credit rating, and overcome emergencies. Payday cash advance loans are not a scheme to keep people who cannot manage their debt trapped.
They do not go through the poor sections of town offering loans at high interest rates. They work with people who make at least $1,000 per month and only need help through a tough spell.
These loans are not out to ruin people, but offer an easy way to get money quickly when emergencies arise.
The other requirements are simply that you be 18 years of age or older and that you have a valid bank account. Since these loans require no collateral, your bank account is your collateral, so to speak.
You either write a post dated check to pay back the loan, or you approve a post dated withdrawal from your bank account to pay the loan back. This makes getting the money, and paying it back, quite simple.
The process is simple. It should take no longer than ten minutes.
The payday cash advance company should be able to give you an answer within one or two minutes. Do not be tricked into applying for another type of loan.
Once you read and sign the online payday advance agreement, the money will be transferred to your account, the same day. There is no waiting.
A reputable company will not require collateral. There are no approval periods.
No one will delve into your personal information. There are no high interest rates, just one fee based on the amount borrowed.
When you get loans from banks, they do require many hoops for you to jump through and not everyone can jump so high. It is harder to get small loans for short terms with banks.
The best part is there are no penalty fees attached to the end of the period. All you need to do is pay the interest to keep the money for another month.
You can pay back the loan any time in the period without penalty or closing fee. You have the choice of closing the agreement in 10 days or keep the money the full 30 days when you get a cash advance loan.
by: Ignacio Lopez
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