Cash Advance Amounts

Written By Heru Kusnadi on Wednesday, July 17, 2013 | 3:48 AM

Cash Advance
Cash Advance
Immediate approval of a loan for someone with bad credit? No, you're not dreaming. Those kinds of loans are becoming more and more of a reality than they were in past years. Some of that is due to the economy. These loan companies know that people are struggling right now - some of the companies, though, are booming because there are so many people who need cash advances right now. A lot of people take out cash advances on their credit cards, but once they've maxed them out they have to do something else. A payday loan is often the next choice. It used to be a desperate, last resort choice for people who had nothing left. There was a lot of stigma attached to it. Now, though, there is much less of that. As more people need payday loans and cash advances because of the economy there is a lot more acceptance directed at these companies and the people who use them. They aren't loan sharks. They are legitimate companies that can provide short term loans and cash advances to people who need to pay a bill or handle an emergency before they get their next paycheck - and they can even do this for people who have bad credit.

The key to this is that most of these companies don't really care whether you have lousy credit or not. They aren't interested in whether you've had financial problems in the past, and they assume that you're having them now or you wouldn't have come to see them. What they look for are three things: are you old enough to sign the contract, have you been on your job the required amount of time, and do you make enough money to repay your loan obligation. That's what they want to know. Sure, they ask for other things too, like banking information and references, but there's usually no credit check. As long as you repay the loan it won't show up negatively on your credit, either. There's nothing derogatory about taking out a payday loan, so it won't make your credit worse provided you aren't late on the payments or have other problems with the repayment of the loan.

Not all companies do it, but if you make enough money and have been on your job long enough, some places will let you borrow up to $1000 against future paychecks. Not everyone qualifies for that much, but if you don't it certainly won't be because of anything on your credit report. You can even apply online, get approved, and have your money transferred into your bank account. You never even have to leave the house! Companies say you'll have the money in 24 to 48 hours, but often you have it less time, and then you can get those bills paid before they end up overdue, take a sick child to see the doctor, get your car fixed, or whatever you need to do that couldn't wait until payday.


Post a Comment