If you're anything like I was, you'll know that you find yourself strapped for cash fairly often, sometimes with no foreseeable way out. Sometimes, a fast payday cash advance solution can quickly solve all your problems. Now I know your thinking that you've seen the ads and you know they're a scam, and yeah I'll agree that they charge far more interest than they should. Well, let me tell you this. There are loads of people who needed money badly, and were saved by a fast payday cash advance at the last minute. I know this because once upon a time – and this may come as a surprise – I was one of those grateful people.
Yes I know that now I am comfortablt and prosperous, and don't want anything, but things were not always the same. There was a period in my life when I was on the poverty line without a possession to my name. It got so bad, the banks were considering repossessing my house and car, which would have meant I couldn't have even got to work. I needed money and I needed it urgently. So, I decided to get a few dollars quickly in a fast payday cash advance.
When I say a few dollars, I actually mean a few thousand. It's really strange having that amount of money in your hands and knowing you can't spend any of it, especially when you're not used to having anything. It was all earmarked for important expenses and debt repayments, apart from a grand left over at the end. I received a hot tip from one of my closest friends who was about to take his dot com company public, and wanted to know if I wanted to some stock. Sure, it was a risk and if I'd lost my fast payday cash advance money, I would be in real hot water. I'd have nothing to pay back my numerous loans and I'd have been in a worse position than ever before. But when you're that low, you feel like there's nothing to lose, and so I decided to take the plunge and go for it, and used those fast payday cash advance dollars to buy the stocks. Fortunately, I made the correct decision and the risk paid off.
Literally overnight, my one thousand dollars turned into tens of thousands. Although I was not overly rich, I had enough to get back on my feet because I risked that fast payday cash advance money. I even had some money left to invest in my own business, and I have never looked back.
So let that be a lesson. The moral of my story is that, yes, these schemes charge high rates of interest, but it's important not to rule out a fast payday cash advance. In times of trouble, it could just save your butt like it saved mine.
Fast Payday Cash Advance
Your Rights
Payday loan lenders must abide by both federal and state laws. State laws will dictate amounts you can borrow and your repayment period. For example, Montana limits cash advances to $300, while Illinois sets caps at $1000. Regardless of where you live, you can expect some basic protection under the law.
Know The Costs Involved
Before you sign for a cash advance, you have the right to know the cost involved. This includes both the APR and loan finance fees. Legitimate lenders will post this information on their website or send it when you request more information. You should also receive this information in a loan agreement.
Know The Payment Plan
You also have the right to know what the payment plan is. This should be stated at the beginning of your application process. However, you can often find this information in the FAQ section of a payday loan lender's website. Ideally you should pay back the loan as soon as possible to avoid paying costly late fees.
No Threats
Payday lenders are not to threaten you with criminal prosecution to collect late loans. You may be hauled into civil court where your wages might be garnished or a lien can be placed against your assets to pay for the loan and court costs. Some states don't allow for collection of court costs.
State Rights
Some states extend more rights to you as a borrower. For instance, in Washington, you can change your mind and cancel your payday loan within one day. However, with electronic money transfers, it is better to take a serious look at your decision before you submit the application. To understand your own state's payday loan laws, you can find information through the department that handles financing issues.
Before you commit to a payday loan lender, research the company. Request information on their rates and payment plans. Compare this information with several companies to find the best deal.
Both I Henman & Carrie Reeder are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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