www.WebCashExperts.com

www.WebCashExperts.com

Regardless of how financially responsible some people might be, there will always come a time when they could use fast cash advance payday loans to get out of a tight spot. This usually involves some sort of unforeseen occurrence that needs to be taken care of immediately and will require money to do so. For example, if your car breaks down or you need to pay for some unexpected medical bills and there still is a week until your next paycheck, you might want to look for a more immediate source of revenue. It is common during these situations for people to turn to advance payday loans as a means to get by.

What Are Payday Loans?

Loans which are not generally provided by banks, but instead are provided by companies known as direct lenders which offer a modest sum as a fast loan without the need for a lot of paperwork or waiting around.

Each company has different policies and offer different services, but most of these fast cash advance payday loans have similar characteristics: they are small loans, no larger than a few thousand dollars; they are short term, usually requiring that they be paid back within one or two weeks; they are accessible to most people since they have just a few basic requirements such as a stable source of income, proof of identity and a bank account.

The main advantage that all of these direct lenders boast is speed. Some of them can offer a loan to a person in as little as 24 hours, if their application gets approved without any issues. Some of them work entirely online and also mention the convenience of applying for a loan at home, without the need to wait in lines and submit tons of paperwork.

Why Do People Distrust Direct Lenders?

In theory, the idea of a loan that is accessible to almost anyone which can be provided without hassle in under a day sounds ideal and should be a valuable service for many people. However, plenty of people that are financially conscious still would rather avoid these payday loans unless absolutely necessary. There is an ongoing debate whether these fast cash advances are truly worth it, with one side praising their promptness and accessibility while the other warns against the hidden traps.

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www.MoneyBee.com

You may know adverse credit history in many different ways because it is also called bad credit, poor credit, horrible credit, and many other names of that sort. This term means that you don't have a very high credit score and are not considered a top candidate for most loans. If you have missed payments on a loans, credit card, or anything else in the past, then your credit score drops.

This can cause you to end up with adverse credit and if you need financing, you will need to find adverse credit loans for your needs. This is because some lenders won't work with bad or even slightly bad credit. Not to worry, however, because some lenders work specifically with those that don't have great credit or even average credit.

Usually when you apply for any type of financing the lender will pull a credit report and use it to help ensure you can pay the loan back. Between your credit rating and your income, they will decide whether you can handle the payments and will pay the loan back on time. This is not always the case and some types of loans can give you money very fast without any type of credit check. This means you don't have to worry about a long process or worry about your credit at all either.

Most think that having bad credit is an obstacle, and it can be with some types of loans, but not with all. Some lenders work specifically with bad credit and they can provide you with the money you need in many ways. You need to find the balance between the type of loan you need, the interest rate they charge, and the payment that you will have to pay every month or week.

Homeowners have an advantage because they can get a loan against their property, which gives the lender some type of security. This will also help to give you a lower interest rate. Sometimes you can use a broker to help you with the loan you need. This all depends on the type of loan you are going to get and what your goal is with the specific loan. You can use the broker to compare different lenders, but this won't help much if you don't own a home.

www.PittsBurghLoansToday.com

www.PittsBurghLoansToday.com

Payday loans are expensive and no one in the world doubts that. The APR rates for payday loans can be as high as 4200%, definitely signaling that someone is making a fortune out of them.

However, the APR rate does not show the entire picture. Short-term lending is always expensive especially when the amount is ridiculously small. Imagine running a business with just a couple of employees. You will have to pay your employees, buy or rent a workplace, make necessary payments to government agencies for regulating your business, and spend money on advertising and marketing the business. With all these costs adding up to the value of service of product, there is going to be $10 margin for each unit to cover up the costs. The same thing happens when you borrow $200 from a payday loan lender. The lender charging $10 for the amount borrowed is actually paying for a place to work, for someone to process your loan, and for someone to receive the payments. This is the bare minimal setup for a payday loan lender, ignoring all the fees and marketing costs.

Suppose that you are paying $10 for loan with repayment period set at two weeks. If $10 makes 5% of the amount borrowed, annual charge (APR) will 130% without compounding. This seems massive but you have to understand that the APR is for the same money rolled over 26 times.

In the previous example, we did not add any interest. The 130% APR was only because of fixed fee charged for a loan issued for two weeks. This is one of the major reasons that APR goes that high- the fixed fee.

Usually people are confused since they are used to bank loans. They see the APR in comparisons to bank loan without considering the nature of both loans. Payday loans are personal loans with a short-term commitment. Lenders will only lend a small amount, usually one third of your pay. Due to this very nature of the payday loans, their annual charge become gigantic despite the fact that these loans are not expensive when viewed in the right time-frame and amount borrowed.

www.GrantsAvailable.com

www.GrantsAvailable.com

The number of Americans who apply for pay day loans has grown steadily over the past 6 years and the momentum doesn't look to be slowing down anytime soon. Several states have enacted regulatory legislation in order to control the pay day loan sector in response to consumer complaints and allegations of loan sharking by the media.

As far as the big picture goes, the pay day loan industry does not have an exceedingly high complaint ratio. One national pay day loan provider states that it's written customer complaint occurrence is less than 4%, which conversely could be interpreted as a 96% satisfaction rate, depending on who is quoting the statistics.

In the financial products industry and specifically with pay day loan products, one may think that the most common consumer complaints fall directly in line with media reports and revolve around high interest rates, predatory lending practices, collection harassment, or a myriad of other potential complaints, however the actual type of complaints that have been filed with the Better Business Bureau, Federal Trade Commission and various States Attorney General's offices paint a different picture indeed.

Here are the 3 most common type of complaints filed by consumers against their pay day loan providers.

1. Our research shows that the most common consumer complaint is that the pay day loan companies make it very easy to complete a loan application online and provide instant approvals, however they do not provide an easy way to increase weekly or bi-weekly payment amounts on the same website. At first glance this wouldn't even seem like a reason to complain as the company is drawing a very low weekly payment for the loan, however many consumers would like to pay off their loan earlier than originally scheduled in order to avoid added interest charges, but instead of being able to do that online, they must call and speak to a live customer service agent in order to alter their previously agreed upon payment terms. This general area of complaints accounts for over 1/3 of all complaints filed with the Better Business Bureau.

2. The second most common complaint is with late payment fees. Many pay day lenders charge a late fee, much like a credit card company does for payments that are received after the agreed upon payment date. In many cases this late fee can be in the neighborhood of 15% or a $15 fee on a scheduled payment of $100. The credit card industry suffers from similar complaints as a late payment fee of up to $40 can be assessed against even a minimum payment of $40 which equates to a 100% late fee. Late fees would seem to be a significant source of income for both industries.

www.CashNowy.com

www.CashNowy.com

Many folks who live on a fixed income face cash-flow or credit problems at some point in their financial lives. Things happen. Emergencies requiring instant cash can arise. Sometimes the need is so crucial and so immediate that the next payday looks like it might as well be in the next century, even though it might only be a couple of weeks away. Cash advance installment loans can fill the need.

Sometimes a loan is the only way out.

Perhaps it is just not possible to ask friends or family for a loan. Perhaps the troubled individual has no property to offer as collateral for a loan. With those options not available, the only available relief requires negotiations for a cash advance installment loan. One thing that can be tougher than landing a loan, is getting that loan paid back.

Some lenders offer easier repayment terms.

Many lenders offer only the option of repaying the loan in one or two lump sums. Other lenders, responding to consumer demands for easier repayment terms, have stepped up to the plate and are offering special loans that have a more flexible repayment schedule. These loans are known as installment loans.

Installment loans offer relief to those already in distress.

Folks already in financial distress do not need the added hassle of suddenly being liable for a large sum due for repayment in a very short period of time. Cash advance installment loans allow for repayment in small, equal installments, or payments. Thus, they do not put an unnecessary burden on those who must borrow. In many cases, the lender even allows the borrower to determine the amount of the payments and the frequency with which those payments occur - monthly, weekly, bi-weekly, etc.