What You Need to Know About a Payday Advance
If you are like most Americans, then you are probably living on a tight budget with very little left over out of each paycheck. With a weak economy and an increasingly tough job market, it may be hard to earn enough money to protect yourself when sudden emergencies arise and you need cash fast. Sudden expenses, like car repairs or medical bills can happen unexpectedly. If your payday day is too far off to wait, you may be trying to figure out how to handle your cash flow problem. It may be time to consider a payday advance.
How Does a Payday Advance Work?
When time is of the essence and you need cash to pay for emergency expenses, you can consider a payday advance. You may be wondering to yourself: so what exactly is a quick payday advance? A payday advance is a loan on your upcoming paycheck to help you offset the costs of your last minute expenses. It’s easy to request a payday loan online – please note the following requirements:
• Be 18 years of age or older
• Be a U.S. citizen or permanent resident
• Employed for the last 90 days
• Proof of income, such as a recent paystub
• A valid bank account with your name on it
• A phone number and e-mail address where you can be reached
If you meet the requirements above, then you are ready to request a payday advance. A payday advance is discreet and confidential. There is no need to feel embarrassed when you request a payday advance. Bad credit is OK – our network of lenders works with all credit. So you can request a payday advance even if you have less than perfect credit.
What Do I Need to Know About Borrowing?
There are several things you should know before you take out a quick payday advance. First, you should be aware that the loan you are taking out is considered an advance on your next paycheck. Any money you borrow will be due on your next payday. Your lender will provide you information on your payday advance, including interest rates and processing fees due on your loan, as well as repayment options. It is very important you pay your loan back on time. Your lender can report a delinquent loan to the major credit bureaus if you fail to repay. If you think you will be unable to repay your loan on time, contact your lender immediately to make other arrangements. Failure to do so could harm your credit.
Next, you want to be informed of the responsibility you are taking on when you take out a payday advance. Like all loans, you should only borrow as much as you need. Your income will influence the amount you can borrow, but expect to be approved for an amount ranging between $100 – $1,000. Your interest rate will also vary based on the amount of your loan, so borrow wisely.
How Fast Can I Get My Money?
A payday advance works to help you bridge the gap between now and your next payday when unexpected expenses occur. Your lender knows you can’t afford to wait- that’s why with a payday loan you can have your money in as little as 1 business day. It only takes about 5 minutes to fill out the request form, and remember, bad credit is OK.