subject: The Top 4 Reasons For Securing A Payday Advance Loan In Todays Economy [print this page] The past year has been incredibly challenging for many Americans. From the recession and job losses to the credit crisis and the housing market decline, millions of Americans were directly impacted by the events of last year.
Subsequently, the way we handle our finances may have changed, and the way we handle our budget and our paycheck may have changed too. For many of us, we had to cut back on spending because of a job loss; for others, the change may have come when the mortgage payment ballooned but the paycheck didnt.
Regardless of the catalyst for changing spending habits, the fact of the matter is that many Americans feelings about money have changed greatly. As a result, there has been an increase in the number of people who take out payday advance loans.
Whatever the reason for applying for a payday advance, here are the four, top reasons for securing a payday advance in todays economy:
1.You dont have to play the credit card game anymore One of the biggest problems experienced among Americans has been with credit cards. From credit card companies raising rates, stacking on fees, and finding loopholes in the new legislation, many Americans are simply fed up by the credit card industry and how it has taken advantage of millions of people. As a result, many individuals are cutting up their credit cards and searching for other alternative to credit cards and one of those alternatives is the use of payday advance loans.
2.You dont have to deal with the banks outrageous fees Perhaps even more outrageous than the credit card industry is the bank industry. It seems that while other industries are being targeted for charging too much in interest rates and fees, the banks are charging more than ever. From bounced check fees to fees for overdrawing your account, banks have charged consumers an exorbitant amount of money in fees each and every year. Many consumers, however, have found that taking out a payday advance to prevent a bank account overdraw or bounced check is a much better and cost-effective alternative than dealing with the over-the-top bank fees.
3.Your credit score doesnt matter Many of us have felt the brunt of the economy in the form of a lower credit score. Whether you lost your job or your mortgage payment swelled beyond your budget, you may have experienced difficulty with your credit. However, because payday advances require no credit check, many consumers are turning to them for their short-term financial needs.
4.You can meet your financial obligations without asking others for help Many of us simply dont want to ask friends and family for financial assistance. Payday advance loans help consumers with their short-term financial problems and eliminate the embarrassment of asking for help.
Many people have chosen payday advance loans over credit cards, while others have found themselves in difficult financial positions because of a decrease in pay. Still, others have simply had no other choice but to turn to a payday advance when emergencies arose. Regardless of the reason, payday loans have been helpful to many people in a financial bind.
