subject: You May Want To Think About A Pay Day Loan If You Are Low On Cash For the Period [print this page] You May Want To Think About A Pay Day Loan If You Are Low On Cash For the Period
It all depends on where you work, since some companies do have such programs in place for if you need a fast way to get cash before payday. Many of them, however, do not but it will not hurt if you have to ask. There are other ideas and lenders that you can check into.
A pay day loan, whether it is through your employer or a different lender, can help add quick cash to your empty pockets. Loans are available from $100 to $500 dollars when you apply for one. There is a typical fee of about $25 dollars per $100 dollars that is advanced. That isn't too crazy if you are broke and have to meet your bill dates on time.
Your credit is not really an issue that they check for. They do however have certain requirements that you have to meet in order to receive a pay day loan. Some of the factors taken into account are time of residency, employment length, monthly income and if you have a checking account. The funds that you get will be deposited directly into your checking account. They will also receive their money back in the same fashion.
Chances are if you are receiving the pay day loan through your place of employment you will have to pay it back out of your next paycheck. However, if you use an outside lender you will be allowed up to 12 weeks to pay it back. If you decide that you can afford to pay it back sooner you may do so without the worry of having to have an early penalty fee.
It is also possible that you can obtain more than one loan at a time. This is all going to depend on whether you can afford to have multiple loans outstanding. You should only use a pay day loan when you truly are in a bind. Make sure that you really require it because the fees can get expensive. You should see your pay day loan in your account within 24 hours if you submitted all of the information that they needed
