One Hour Cash Advance

Obtaining one hour cash advance loans is more convenient than ever today with so many companies offering customers a quick way to get money between paydays simply by using the Internet. A bit of caution should be mentioned though, these short-term loans are not permitted in all 50 states. Those states that do allow these business practices also have established specific regulations and guidelines regarding finance charges, the maximum amount that can be borrowed and usually several other criteria. Requirements for obtaining this type of financing are quite similar to the conditions found when applying for a traditional payday loan, which can be received online or through one of the numerous companies offering these services nationwide. Whether a person has good or bad credit or even previously filed for a bankruptcy is irrelevant to receiving instant cash in this manner since lenders providing this service generally do not conduct background credit checks.

Overall the general requirements for receiving a one hour cash advance loan include an applicant must have a job, or at least a steady income, be at least 18 years old and have an active checking account. Some companies also accept savings accounts for deposit of these funds. The amount a person can borrow will vary from state to state but usually will range from $50 to $1,500 depending upon an individual's income. Since these cash advance loans are for short term periods, typically around two weeks, the corresponding Annual Percentage Rates (APR) are very high. Additionally, fees accessed for receiving instant cash in this manner are high as well.

Applying for a one hour cash advance loan takes very little time and is incredibly quick and simple. Using a computer, a person only needs to access the Internet, conduct a basic search for these types of businesses and select one of the numerous companies that either provide this type of financing directly or will match a customer with a lender. After selecting a company, the individual will need to take a few minutes and type in the requested information and submit the completed online application. Once an application is approved, which usually takes about an hour, money can then be electronically wired and deposited in a bank account. Customers receiving a cash advance are required to agree to pay the loan in full by their next payday. To accomplish this, an applicant usually consents to allow the lender to automatically debit their bank checking account for retrieval of the funds borrowed.

For many consumers, acquiring a one hour cash advance loan can be a very convenient way to get money for an emergency situation or to simply pay bills in between pay periods when cash simply isn't available. It can also be a means for individuals to avoid writing a bad check, which will then lead to having to pay bank overdraft charges and other associated fees. This method of obtaining instant cash also provides an individual an effective way of not accumulating revolving debt, which often includes fairly high interest rates and late payment fees if the borrower fails to pay the account in a timely manner. Since the entire transaction for receiving the money takes place online the shame often associated with applying for financing is removed. A person can safely and securely obtain this type of funding in the comforts of their home or even while at work, anywhere they have access to the Internet.

A further word of caution to consumers, these are unsecured loans and the amount provided to an applicant will never exceed the customer's current income. Some companies that offer one hour cash advance loans also provide different ways for the borrower to refinance the initial amount borrowed in the event that the applicant is unable to pay in full by the agreed deadline. Several restrictions may apply and additional fees will be assessed for an extension. Consumers are advised to definitely carefully read the conditions of the original contract to better understand all the terms. Again, restrictions for obtaining this type of financing varies from state to state and one hour cash advance loans are not legal in all 50 states.

As with specific rates and conditions of one hour cash advance, some states may also require a waiting period before a person can apply for new funding. Additionally, many lenders will not allow borrowers to have more than one contract for this type of financing. These short-term loans are designed to be used only as temporary financial management tools. Certainly, applicants should understand that obtaining money in this manner is not an effective long-term financial solution. Seeking a financial counselor to address recurring financial problems would be a better resolution than continually obtaining a cash advance.

Whether a person receives financing using the traditional method of applying through a bank, or similar financial institution, or if an individual submits an application online for a one hour cash advance loan from a lender, either way, the consumer has an obligation to repay the loan in a timely manner according to the agreed terms and conditions. Careful scrutiny should be taken reading the requirements of the contract before an applicant signs an application. "Better it is that thou shouldest not vow, than that thou shouldest vow and not pay" (Ecclesiastes 5:5). Many years ago a man's word was as good as a handshake and just as binding as a signed contract is today.

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