Payday Advance Cash Loan

A payday advance is a small cash advance from a lender or lending company to anyone who is in an emergency situation and is in need of quick cash. Payday advance loans are loans that are repaid to the lender with a post-dated check from the borrower's checking account. The post-dated check is cashed by the lender, or lending company, on the borrower's payday. There is a fee attached to these transactions, and a post-dated check amount will usually include that fee.

Emergencies are never timely. Often, a person may find that they are in need of a payday advance due to untimely circumstances that are proven to be out of their control. Severe and unexpected illness, death in a family, or critical car and home repairs can occur when cash is in short supply. These short-term loans serve to extend quick cash for emergency purposes to those in need of short-term financial aid. When a person needs cash now, but payday is still a few days away, payday advance loans can help.

It's fairly simple to obtain a payday advance. Generally speaking, a proof of employment is all that is needed to obtain these short-term loans. If a poor credit rating, or credit problems in the past, payday advance loans might be an option for obtaining quick and easy cash. Many companies that offer these transactions will not even research credit histories. By supplying the lender with a post-dated check, a borrower is somewhat guaranteeing that the money will be paid back. On the day that a borrower receives their monthly income check, the post-dated check to the lender is cashed, paying back the loan plus a fee.

As with any financial matters, obtaining a cash payday advance loan should be carefully considered before entering into an agreement with a lender. Payday advance loans exist to serve those in need of emergency cash, and they do not exist to help the financially troubled float from one paycheck to the next. Anyone wanting to investigate these transactions should speak with several money lending agencies, and comparison shop for the cheapest fees. In the Bible, the book of Proverbs teaches us much about day to day living and how to do it wisely. Proverbs 1:5 tells us that, "A wise man will hear, and will increase learning; and a man of understanding shall attain unto wise counsels." Seek advice from friends and family members who can trusted to guide with sound advice when money matters become critical before securing one of these short-term loans.

Add to: File Insurance Business article Teen Photo Images