Reasons You Should Get A Payday Loan

1
Reasons You Should Get A Payday Loan
Payday loans have been in the news a lot
lately, for bad reasons, but they need not be
always cast in a bad light. Payday loans have
also gone by other names like check advance loan,
quick cash loan, post-dated check loan,
deferred-deposit check loan, etc. but
ultimately it comes down to any loan where you
can get cash immediately at a higher interest
cost in return for that speed and flexibility.
Here are some reasons why a payday loan may be
right for you
Get Cash Quickly, Now, and Only What You Need
Where can you turn to if you need a few hundred
dollars right now? Your family? Your friends? In
that whole group there are probably going to be
very few people who can get you that kind of
money right this very moment. Also, try to get a
short term, small dollar amount loan from your
bank. Good luck. Theyll force you through their
application process, do all the necessary checks
(which invariably will take forever), and by the
time they approve it, if they approve it, youll
likely be in bigger trouble than when you started.
Compare Costs, Payday Loan May Be Lower
So you have a debt that needs to be repaid,
compare the cost of getting the short term
loan versus the cost of missing a payment on that
debt. Is it an auto note? Would you lose your car
if you didnt make the payment? Is it a mortgage
payment? Would your lose your house if you didnt
make the payment? The cost of fees in a Payday
loan is probably lower than the
cost of losing your car or your home, in which
case the payday loan would make sense. Those are
more extreme cases but what about if you mailed
off a check and didnt have the bank funds? Pay a
little more in fees to the cash advance shop or
get socked with a 45 overdraft fee?
Its Strictly Business
Its going to cost you some money at a payday
loan store but itll cost you more in terms
of emotional expenses if you borrow that kind of
money from family and friends. With a payday loan
company, its all business, zero emotion when
you borrow from friends and family, you tax the
relationship.
2
No Credit Check
This is part of the reason why the application
process is much shorter, no need to run
your credit history and air out your dirty
laundry. This also means that the loan wont ever
appear on your credit history unless you fail to
pay back the loan. So the net result is that you
get a loan, some short term help, and it never
appears on your credit history the best of both
worlds.
Okay, Devils Advocate post over, I think Payday
loans are both inherently bad and they
prey on unsuspecting customers. Theyre bad in
that theyre expensive, the fees for everything
are exorbitant, and because they feed into
the instant gratification phenomenon that is
fueling a consumption driven country. Money now,
responsibility later. Secondly, they prey on
customers that are looking for a quick and dirty
way out of a bad situation. Debt payment due?
Snag a payday loan, no one will have to know, I
can fix it next month except they cant fix it
and then the debt snowball increases and now is
rolling down the hill even faster. Do yourself a
favor, dont ever get into a situation where
youd consider a payday loan.
For more info visit the links below
Cash Loans Online
Cash Advance
Same Day Cash Loans