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Reasons Why You May Need a Cash Advance

Sunday, October 17th

Reasons Why You May Need a Cash Advance

Car Repairs. When your bank account has the lowest balance, it seems as though the highest expenses have a way of popping up. Cash advances offer fast cash, which may help you to get any necessary car repairs to help get you back on the road. Unless you live within walking distance of school and/or work, you will need to have a vehicle. Repairs can be very expensive and, if you don't have the cash, you cannot get the service that you need. Cash advances can help you when the road to your next paycheck seems long.

Car Rental. Speaking of car repairs, they can sometimes take several days. Depending on what is wrong with your car and whether or not the repair center has the necessary part(s) needed to repair it, you may be in for a wait. If you do not own another automobile, a car rental may be your only option. Ranging from $30.00 to 100.00 per day, the cost of a rental car can add up fast. Cash Advances can offer you the cash advance that you need to get you back at work and help you to avoid suffering missed work and lost wages on top of expenses relating to your car repairs.

Doctor and Dentist Visits. Today, many people face every day without having the security of health and/or dental insurance. Although this is a gamble, it is one that many people are forced to take simply because the cost is often unaffordable. When there is an illness or prescription medicine is needed, the expenses can add up quickly. Because most cash advances do not exceed $1,500, they can only be sought for help in paying minor medical operations.

Home Repairs. Perhaps you woke up to find water on your floor instead of in the pipes where it belongs. A leak can cause major problems and may require that you replace certain items within your home. Depending on the severity of the leak, you may need to replace your floors or your plumbing altogether. If your roof develops a sudden leak or you need to winterize your home to help keep the cold weather outside where it belongs, you may need some extra money to help perform the necessary home repairs. Cash advances are simply a way of getting a cash advance on your next paycheck and can help to get those much-needed repairs done quickly.

Utilities. If your phone, power or water bill are due and you are short on cash, cash advances can help you to meet the due date and continue to enjoy the necessary utilities that you have come to enjoy.

Overdraft Charges. If you made a miscalculation and have since found yourself swimming in a sea of overdraft charges at your bank, it's essential that you correct these quickly in order to return your account to good standing. Cash advances may be able to help in getting these fees cleared up and avoiding the potential problems associated with worthless checks.

Emergency Travel. If a family member or friend is ill and you need to be by their side, you may need to make travel arrangements immediately. If you don't have the money available for scheduling a flight or confirming other travel details, the ability to obtain fast cash via cash advances may be the answer you need.

Gasoline. Every day, some people struggle with simply having enough gasoline in their car to get to work. When the money runs out, the gasoline is sure to follow. If you find that you are short on funds and just need a little boost to get you through until the next paycheck rolls in, cash advances may be an option.

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Cash Advance Service FAQ

A cash advance provides you with a loan where you are essentially borrowing from a future paycheck. If you just need a little bit of money to hold you over until your next deposit, a cash advance loan could help.
That depends on the lender you select and the laws in your state. Most cash advance services offer smaller loans to first-time customers and increase the amount available to repeat clients. You can expect to qualify for a loan amount between $100 and $1000, possibly up to $2500.
No, and that's part of the appeal of a cash advance loan. You have to provide proof of income, and that doesn't depend on your credit score.
You'll usually have a service fee that's a percentage of the loan amount, in addition to any interest you're charged. Be aware that interest rates on cash advance loans are extremely high: you may see APRs of over 2,000%! In other words, cash advance services should probably be considered as a last resort.
Most providers of cash advance loans can get your funds deposited as quickly as the next business day, once you've been approved. The quicker you fill out the application and provide any requested documentation, the sooner your funds will be transferred.
Because your loan is borrowing against your next paycheck, you'll typically have until that pay date to repay what you borrow. For example, if you're paid twice a month, you'll probably have a loan term of 15-17 days, or up to 31 days if you get paid once a month.
Frankly, yes. These are some of the highest-interest loans on the market, and you could get stiff penalty fees and other charges if you don't pay them back on time. Laws vary by state; you could have a grace period if you can't pay your loan off by the due date and you request an extension beforehand.
Yes. There are many lenders that have been in business for decades and that have a positive reputation for providing funds to clients in desperate situations without taking advantage of them. However, because of the higher-risk nature of cash advances, you should take the time to read all of the fine print and verify that the lender you're considering is trustworthy before you commit.

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