March 21, 2007
My Thoughts On Payday Loans
Are cash advance loans really that scary? Do they end up helping some people that are in need of financial assistance? Probably… I mean there are exceptions to every rule. I’ve only read and heard horror stories about payday loans and how they are out to get you. I will never apply for a payday loan (at least I hope so), but for some people it could possibly get them out of a rut if they end up paying the loan back in full on the day it is due. People need to always read the fine print and always plan ahead. If you ever end up applying for a payday loan, paying it back immediately needs to be your top priority. This should be a last resort and make sure you have exhausted all other types of financing (i.e friends, family, neighbors, and trying to be beggar on the streets).
The following statements are not mine and they belong solely to National Payday.
Cash advance loans, also known as payday loans, can be a necessity in a financial crisis. You may be forced to give up your paycheck to take care of emergency bills or the stress of living paycheck to paycheck is just too stressful at certain times of the month. There are several excellent finds on online for cash advance loans. You will be able to find many options from the comfort of your own home.
A cash advance is so simple to do over the Internet and many online lenders offer free cash advance loans to people who are using the service for the first time. This can save you a lot and make the process of getting a cash advance cheaper and easier. The process is a breeze and it only takes a few minutes to fill out your online application. All you have to do is show that you are 18, have a job and a checking account and you can be approved within minutes. The money can be in your checking account within 24 hours and your stress will be relieved. If you find that you have extra cash come in, you can pay your loan early on online or allow the lender to withdraw the amount on the loan’s due date.
Borrowing money has never been easier and thanks to the Internet it is as simple as ordering something off of eBay. You don’t even have to leave your house or be seen walking into a payday loan lending office, which is often a concern for some people.
My husband and I were at a lost when I became disabled and turned to payday loans and are now in debt because we werent able to pay them off at one time because bills kept comming in forcing us to only pay the intrest and try to come up with more money. We are now forced to try and take out a bigger loan to try and pay off all the smaller loans. Here is the site were we are trying to get a loan and would really like it if you kind hearted people would help.
Payday lending has been a lightening rod for criticism from all directions, including the mainstream media, the military, Congress, federal and state regulators, community groups, and the plaintiffs bar – to name a few.
Yet, few deny the demand for small dollar lending. Unfortunately, banks and credit unions have yet to put forth a product that competes when it comes to convenience, approachability, privacy, and simplicity.
We developed the RevelCard as a means to bring consumers an affordable payday loan alternative. The RevelCard’s “Bank on a Card†objective delivers all the common services expected at a typical bank branch through nonbank, alternative delivery channels – meeting the consumer on his/her terms and where he/she feels comfortable conducting their financial business. Features include:
• A low cost transaction account through a prepaid MasterCard
• Full online banking capabilities, including bill payment and money transfers
• RevelAdvance – a small dollar loan feature 40-60% less than a payday loan
• RevelSave – an integrated savings account
• RevelSpendTrend – online budgeting and expense tracking
Check out the first scalable banking alternative to payday lending at http://underbanked.blogspot.com and http://www.revelcard.com.