These days everyone is feeling the pinch. The economy has slowed, credit is tighter, gas prices are up, and it's just all around harder and harder to save money and pay all the bills. When budgets are already stretched tight, any extra expense that arises suddenly can put you behind in your finances. For example, you can't predict when your car will break down and you need to have it fixed right away. Anything where you need cash immediately and unexpectedly is going to put a dent in your weekly savings. For some folks, the combination of rising prices, lack of credit, and sudden need for emergency cash can mean falling behind and losing the ability to make a payment. For them, a cash advance can be the answer.



If you are employed, and the circumstances described above fit your situation, you may need to know about an emergency cash service called a cash advance or in some cases it's called a payday loan. With the guarantee of your next paycheck as a way to repay the loan, you can borrow up to $500 and in some cases $1000 on a short term time span. You get cash quickly, and it's due on your next paycheck. You pay a fee for the service, which for many people works out to be less than a fee they'd pay for missing a credit card payment or other hazards of not paying bills on time.

The fees for the typical cash advance online are $15 for every $100 borrowed. If you pay back the cash advance on time, that's the end of the transaction, no more fees and no interest payments. And, since you must have a job with steady income above a certain level to get the cash advance in the first place, the system should work for folks who just need a shot of cash until the next payday.

In addition to the employment requirement, borrowers must also be at least eighteen years old and be a citizen of the United States. And also you must have a bank account. The cash you borrow is transmitted to you, the borrower, by way of electronic transfer, directly into your bank account. It's like direct deposit. This ensures quick delivery, which is what you're paying for in the fee for the cash advance. By the way, the application is done online, and it's a very quick and simple application form. It's either one or two pages, depending on the lending service you are working with. Lenders of cash advances don't need to do a credit check, no credit history, no financial history, nothing that requires any documentation or faxing. They have the guarantee of your next paycheck to ensure repayment of the loan, so all the other things that slow down and complicate a traditional loan are not present here in this type of loan. Therefore, cash advances are very easy to apply for. They just ask you for basic information, from your driver's license, and employment information. You can finish the online application in just a few minutes. This is another reason why cash advances are easy and fast, for people who need fast cash for an emergency.