Some of you may be more experienced and more practiced at money management than others making sure all bills are paid on time every month, full amounts paid to avoid interest charges on credit cards, keeping your credit rating as high as possible. From a financial perspective this is a great position to be in knowing that you have the cash flow to live the lifestyle you want without the worry and stress of having to make ends meet. What do you do, however, when you are hit with expenses that are totally unexpected?
There are times when almost all of us will be faced with this dilemma. It could be an unforeseen bill that has to be paid, an emergency repair to your home or car, a dental bill or hospital bill that was not planned for. Even the most vigilant of money managers can get caught with having to find cash quickly and not quite sure of the best option to take knowing that the bill has to be paid before the end of the month. For example you could:
- Ask friends or family to lend you the cash until pay day.
- Apply for a bank loan.
- Get a quality payday loan.
It can be very uncomfortable for both you and the friend or family member when asking if they can lend you money. This can place them in a very awkward position if they are unable to help even if they were prepared to. Also, if there were further unforeseen circumstances where you couldn't pay back the loan in full when you said you would could cause friction and ill feeling. If possible it is better to find an alternative way to raise the cash.
Apply For A Bank Loan
The first point to mention is that in order to get a bank loan, usually, the approval process takes time and time may not be the luxury you can afford. If you need the cash quick or as soon as possible the lengthy approval process will not work in your favor. The other drawback with a bank loan is that you will have to provide a lot more information and documentation compared to a payday loan for example.
The big benefit of a bank loan is that you are not obliged to pay the full amount back in one go thus you can spread the payments over a longer period. There is always a price to pay for the benefit you obtain. In this case it is likely that you will pay higher fees and higher interest rates than you would for a payday cash advance.
So even if you are not concerned about the higher charges the time taken to get approval may be longer than you can wait in which case a bank loan will not be of any help to you. In addtion, Bank fees are sky high these days when you bounce a check and do not have the money in your account to cover the outstanding checks. Payday Loans make more sense. Apply for a Secure and Discreet loan at www.NationalCashCredit.com
Apply For A Payday Loan
Payday loans continue to grow in popularity because they are processed very quickly and little documentation is required. Another very important reason is that the demand for payday loans in today's economic environment also continues to grow. For those of you who may not know what a payday loan is quite simply it is a cash advance or unsecured loan which is approved based on a few prerequisites. The process is straightforward and approvals are normally given within 24 hours if not sooner and the money is deposited directly into your bank account.
These have been designed especially for those of us who use a mobile device to get access to fast cash to meet an emergency. They are called payday loans because the expectation is that we pay back the full amount when we are paid by our employer.
You fill out an online application form providing some personal information, job information and your employer. Also, you should be 18 years old or over and be a salaried employee.
As long as you meet the requirements a payday loan could well be the best option for you to raise the cash you need very quickly. However if paying the full amount back on pay day will cause further financial difficulties you may need to reconsider your options.
Consider all the advantages and disadvantages of both a bank loan and payday loan before you finally decide which one will serve your needs best. Visit www.NationalCashCredit.com for a Quick, Easy and Secure Cash Advance today. National Cash Credit, Where Payday Loans are our specialty.
Payday loan APR fees compared to other finance fees
By the numbers
| Finance fee |
APR |
| $32 fee on $100 bounced check |
2,336% |
| $37 late fee for $100 credit card balance |
965% |
| $46 reconnect/late fee for $100 utility bill |
1,203% |
| $15-$25 loan fee for $100 payday loan |
391%-638% |
What are you waiting for? Apply Now and put us to work saving you bank fees by getting you quick cash with a No Fax payday loan or cash advance.
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