Applying for payday loans is easier than ever now that they are available online. These short term loans secured by your next paycheck have been around for years. Actually, the first payday loans were actually cash advances made by employers to their own employees, but that?s not too common these days. Check cashing stores got into the business of payday loans and over the years the business has grown tremendously. Naturally, in this difficult economy that is causing problems for so many people cash advance loans have become more interesting to more people than ever before.
What are cash loans and what are the payday loan benefits? They are short term cash advances on your paycheck, it?s that simple. The loan agreement is set up for a very short period of time, as short as seven days, and so it is not an installment loan at all. There is no option to make small monthly payments when you obtain cash advance loans, although many people ask about this issue. It?s just not the way these quick and easy, but short term loans work.
When you stop in to a no fax payday loan store you?ll probably find that they offer check cashing, bill payment, monthly car insurance, and auto title loans along with cash advance loans. These loans are also called payday loans because that?s when your loan repayment will be due and when it will be paid. It?s easy to remember, since most of us remember our paydays pretty well.
Nobody has to make a special trip back to the store to make that loan payment, however, because it will be set up as a pre-authorized debit from the same checking account that received the loan funds on the day the loan was made. In other words, you provide banking information for both an auto deposit and an auto debit when you apply for a cash advance loan.
Cash advance loans have a loyal following of customers who appreciate the opportunity to obtain fast cash without a credit check. That?s one of the most popular features of payday loans. There?s not credit check and no collateral required, simply proof of a regular job with a regular paycheck, and maintenance of a regular bank account. If you are 18 years of age or older and have ID documents along with the items mentioned above, you have a good chance of qualifying for a cash advance loan, wither at a local store or online.
Many couples nowadays often find themselves requiring a fast cash payday loan. Our company offers people an easy means for getting the same day loans they require with low service fees and interest.
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