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Although there are a number of benefits to being able to get fast cash when you need it, the most obvious reason for cash advances is to help out when unexpected emergencies arise. As their name implies, cash advances grant borrowers a certain amount of money secured by their next paycheck. When one of life's unexpected events occur, you can use cash advances to make sure that the unexpected isn't the unaffordable.
If you are in a temporary slump resulting from unforeseen expenses, such as a car repair, doctor bill or perhaps even a higher heating bill during the winter, you may find that it's difficult to squeak by with your finances until the next payday arrives. Perhaps you took a vacation, which not only costs money but may also involve days missed of work, and you need some extra money for the necessities until payday or maybe you need to take care of some necessary home repairs. Whatever the case, one of the main benefits of cash advances is to be able to get quick cash when and if you need it.
Many people may not realize this but obtaining a loan, even a very small one, can be a task if you have bad credit. Cash advances do not typically require credit checks, which means that your credit history may have little or no bearing on whether or not your loan is approved. When it comes to payday lenders, they are more concerned with your current ability to repay than your past. In order to apply and be approved for payday loans, you must have a steady job and enough income to repay the debt. As such, the ability to obtain fast cash with less than perfect credit is another benefit of cash advances.
With credit cards or traditional bank loans, even when requested in small amounts, the approval process can be lengthy. With a credit card, you have to apply and wait for days before your card arrives in the mail. If you apply for a traditional loan, you may have to wait for several days before getting an approval. Cash advances, on the other hand, are fast and convenient. Because they are designed to provide fast cash, the application process is nothing short of the same.
If you are able to repay cash advances quickly, you will enjoy not being inundated with finance charges and fees. If a cash advance continues to roll over, or remains unpaid, additional fees may occur. As is the case with any type of loan, the faster you pay it off, the less money you will pay in the long run. If you are in a situation where you cannot repay cash advances on the date of your next paycheck, you will need to check with your lender to see if they will extend the loan for a longer term.
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Cash Advances In The News
SHANGHAI/HONG KONG (Reuters) - China's biggest manager of bad debts is trying to exit early from at least three loans and investments as it wrestles with a liquidity crunch triggered by an anti-corrup...
Published: Mon, 23 Jul 2018 05:35:00 GMT
MUNCIE, Ind. (AP) - An ongoing audit of Muncie Community Schools has delayed a $12 million state loan the financially struggling central Indiana school district needs to continue its recovery. State-a...
Published: Mon, 23 Jul 2018 01:05:00 GMT
LAFAYETTE, Ind. (WLFI) - Lafayette police are looking for a man who robbed a Cash Advance store at gunpoint Tuesday morning. Lt. Scott Galloway said police were called to the Advance America Cash Adva...
Published: Tue, 29 May 2018 16:20:00 GMT
Louisiana State Police detectives made an arrest Friday in a string of burglaries. Shawn Ramon Freeman, 49, of Greenwell Springs, was arrested around midnight during a traffic stop in Golden Meadow. H...
Published: Thu, 24 May 2018 01:28:00 GMT
Credit card companies look to reduce their exposure to the crypto market by classifying cryptocurrency purchases as cash advances. Cash advance classification could lead to further declines in demand ...
Published: Wed, 14 Feb 2018 12:05:00 GMT
It's possible to think of reasons for getting a cash advance with a credit card. Maybe your car is broken down in the dead of night, and you meet a tow truck driver who inexplicably won't accept credi...
Published: Fri, 11 Aug 2017 13:07:00 GMT
Nine months after raising $22 million for its unique take on the cash-advance business, Activehours has gone back to the venture capital well and pulled out another $39 million in financing. Led by An...
Published: Thu, 21 Sep 2017 09:01:00 GMT
STOCKTON - Mayor Michael Tubbs first went public with his interest in a violence-prevention program called "Advance Peace" in early July. Tubbs' critics quickly dubbed the program "Cash for Criminals" ...
Published: Sat, 06 Jan 2018 14:19:00 GMT
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