When someone needs cash and their pay check is still not due for another week, many will turn to a lending source that will offer them a guaranteed payday loan. It can be the quickest and easiest way to get the money you need. It is a short-term loan that can help you cover your expenses until your next payday.
If you need to get a payday loan or cash advance, you'll want to check to make sure it's legal in your state. 12 states prohibit lenders from offering this type of loan. These loans are also illegal in Canada. However, some states allow this practice without any problems.
If you live in a state where there is little to no legislation, you'll want to be especially sure to read the fine print to make sure you are not paying more than necessary in fees to borrow the needed money. In most cases, the finance charges range anywhere from 15 to 30 percent of the amount borrowed.
Guaranteed payday loans should only be used as a last resort. You should make sure to never borrow more than you will be able to pay back on your next payday. Generally speaking, if you don't pay back the full loan amount within two weeks, you will have to pay interest again. Often after 4 weeks the loan amount will double because of the extreme interest of this type of loan.
Many payday lenders will direct deposit your funds directly in your account and will then withdraw your payment automatically. Other lenders will require you to post date a check to make your payment. You are usually expected to pay the loan back yourself and if you don't, they will cash the check you left.
If a payday lender tries to cash a check that has insufficient funds, they will usually charge you extra fees and increased interest. To avoid these complications, you should make sure that you can pay back the full amount, on time.
If you decide to get this type of a loan, it should be fairly easy to find. There are payday loan stores on almost every corner these days. You can also find an online store that provides this type of loan without too much trouble. Be careful so that you can avoid paying too much interest and this loan may be quite useful. - 15485
If you need to get a payday loan or cash advance, you'll want to check to make sure it's legal in your state. 12 states prohibit lenders from offering this type of loan. These loans are also illegal in Canada. However, some states allow this practice without any problems.
If you live in a state where there is little to no legislation, you'll want to be especially sure to read the fine print to make sure you are not paying more than necessary in fees to borrow the needed money. In most cases, the finance charges range anywhere from 15 to 30 percent of the amount borrowed.
Guaranteed payday loans should only be used as a last resort. You should make sure to never borrow more than you will be able to pay back on your next payday. Generally speaking, if you don't pay back the full loan amount within two weeks, you will have to pay interest again. Often after 4 weeks the loan amount will double because of the extreme interest of this type of loan.
Many payday lenders will direct deposit your funds directly in your account and will then withdraw your payment automatically. Other lenders will require you to post date a check to make your payment. You are usually expected to pay the loan back yourself and if you don't, they will cash the check you left.
If a payday lender tries to cash a check that has insufficient funds, they will usually charge you extra fees and increased interest. To avoid these complications, you should make sure that you can pay back the full amount, on time.
If you decide to get this type of a loan, it should be fairly easy to find. There are payday loan stores on almost every corner these days. You can also find an online store that provides this type of loan without too much trouble. Be careful so that you can avoid paying too much interest and this loan may be quite useful. - 15485
About the Author:
You should only use guaranteed approval payday loans with extreme caution. Dave educates people on how to use personal loans instead of high interest loans to save themselves money.
