We've all been there. You are days away from your next paycheck then a hidden expense seems to jump out of thin air. In this scenario, you will want to immediately determine if you must get cash in hand or if you can rely on the ease and convenience of an unsecured loan directly deposited into your checking or savings account. While most bills and debts can be paid electronically, some individuals and vendors still only accept cash transactions (to the dismay of modern, tech-savvy consumers). A couple examples that come to mind are miscellaneous private transactions or overdue bills.
If you need cash immediately, it might be worth a trip to the local cash loan store or pawnbroker. A significant downside to consider is that physical currency has the capacity to be lost, misplaced or stolen. It is also imperative that you remember to store all accompanying loan documents and receipts nearby in case you need to reference them at a later point. This can cause clutter and mess. Finally, some smaller lending institutions or pawnbrokers might require you to pay back the borrowed amount plus applicable fees in cash, which requires more effort if your funds are in the bank. If these options don't sound too appealing, there is always the secured bank loan option. These are usually dispersed in the form of cash or direct deposit into your account. Before you get too excited, remember that these services are usually more difficult to qualify for and consumers often have to supply collateral in order to be considered for approval.
There is Another Option...
If none of the aforementioned options seem appealing, we understand. After all, we live in a time when consumers demand customizable lending services. Instead of a one-size-fits-all traditional service from a bank or credit union, why not consider an online loan instead? We have created this resource to help you tackle your money issues head-on. So how do we accomplish this? We began by establishing a network of the most trusted electronic lenders in the business. These companies specialize in offering online cash advances that are extremely easy to qualify for. You'll never have to thumb through the phone book looking for a company you can trust in order to get the money you need in a timely manner. You won't have to get into your car, drive across town and try to find the business (sometimes located in an unfavorable part of town). Finally, you'll never have to stand in line or fill out complicated paperwork or undergo stringent credit checks in order to get through the approval process. Instead, you can complete the entire process from the comfort of your own home, on your schedule. Once approved, the funds are conveniently and securely deposited into your bank account so you won't have to carry a large sum of money on you at any time. This is much safer and more secure than the alternatives we discussed previously. For the times when you need cash, you can conveniently withdraw the funds once they have been dispersed by your lender. As you can see, online borrowing services come with many advantages not associated with traditional counterparts. You can still get cash, but you will be protected by the secure application and direct deposit feature.
When it is time to repay the lender, this is when you will really begin to see the benefits of online borrowing. Similar to the application process, repayment is handled electronically - so you basically don't have to do much of anything. We recommend that you log in to your online banking service to confirm the funds were withdrawn successfully.
Avoid Costly Credit Cards
When you hear the term "cash advance," it can mean two different things. Some people use the term to describe borrowing money off of a line of credit (usually from a credit or debit card). Others use the term synonymously with other types of short-term loans such as a payday advance. While the terminology can get a little confusing, it is important to know the difference because the former can cost a lot. How is this so? Credit card companies may offer you money in advance, but you will end up paying a significant amount for the privilege. A credit card advance comes with a higher interest rate than normal purchases. Additionally, you still have to adhere to the credit limit imposed by the provider. If this isn't enough, you typically have to pay a fee on top of all other interest charges in order to enjoy the convenience. When you go to pay back what you owe, most card companies will apply your payment to the lowest balances (usually comprised of your normal purchases) first. This means you will pay more as the amount you owe is compounding as time moves on. Some industry analysts estimate interest rates that top 40%! As if this isn't enough, there is more! If you use an out-of-network ATM in order to initiate the transaction, you will likely have to pay extra on top of all the other charges you already had to deal with. When dealing with a card company, there is usually no repayment grace period, meaning you will likely have to repay the balance in full by the due date. You can probably guess what will happen if you miss that due date... Yes, more fees! All things considered, dealing with a card provider can be particularly expensive, especially when there are cheaper options at your fingertips.
Alternatively, some individuals try to use their bank accounts or debit cards to get the money they need upfront. This is what is known as an "intentional overdraft" and involves going into the red on the check register. Basically, the consumer intentionally spends more than is in the account. This is another costly option as recent legislation has made it difficult for financial institutions to collect exorbitant overdraft fees. With this profit motive taken away, banks are more likely to deny these overdrafts. If it happens on a regular basis, your bank will likely close your account. As you can see, this isn't the smartest way to get funds upfront. So what should you do?
This is Where We Come In
Why deal with the stress and headaches (not to mention the costs) of the aforementioned services when there is a much easier, cheaper alternative? We offer short-term lending services to those who are dealing with poor credit (or none at all) and desire a straightforward way to get funds quickly. You can apply using the simple form located on this page and enjoy funds delivered directly to you without hassles. Forget paperwork, compounding interest charges or costly overdraft fees. We've got you covered.