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Tips For Getting and Repaying a Payday Loan

Whether you're considering applying for payday loans or are currently attempting to repay one, the following tips are designed to help you get the fast cash that you need or repay your lender without further delay.

When applying for payday loans, you can help the process to move along more quickly by having the necessary information available for quick reference. This may include your checking account information, your income and the contact information for your employer.

If you are thinking about applying for payday loans, make sure that the fees are spelled out clearly. Avoid a company that is vague or will not directly answer your questions regarding costs associated with a cash advance.

If you want to avoid additional fees, paying off your loan quickly will help you to accomplish this goal. You can save money for repaying your loan by clipping coupons, packing your lunch instead of eating out and selling some of your household items on eBay or Yahoo auctions. Getting creative by saving or earning money where possible will lead you toward financial and personal freedom in no time.

When applying for payday loans, it's important to request only the money that you need. The reason is because you will be charged a fee that is based on the loan amount, which is why it's essential that you use only what is necessary and repay it as quickly as possible.

Payday loans often provide cash within 24 hours, which means they are ideal for having access to fast cash for unexpected emergencies.

When it comes to repayment, the most common option used is an automatic debit from your checking account. In some cases, you may be asked to write a check to the lender, which will then be cashed on the agreed upon date unless other arrangements are made.

If you have applied for one or more payday loans and they are continuing to roll over due to your inability to repay them, there is still hope. You can always take out a cash advance on a credit card to repay the loan. This is especially helpful if your credit card has a 0% introductory APR or a very low fixed rate, which will stop the payday loan fees from accruing and will also help you to get the debt repaid much faster.

Payday loans do not typically require a credit check, which means your past credit history will not be a factor in determining the status of your application. You must, however, have a steady job and regular paycheck in order to qualify for payday loans.

Because a credit report is not usually a part of the payday loans process, future lenders will not know that you ever applied since the loan will not appear on credit reports.

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Payday Loans In The News

Senate approves payday loan regulation bill by 21-9

Looking to fix a failed 2008 law and address what are among the highest rates in the nation for small-dollar loans, the Ohio Senate convened a rare summer session Tuesday and passed new payday lending ...

Published:  Tue, 10 Jul 2018 12:29:00 GMT



Payday loans not just a poor person's issue

A team of researchers led by faculty at the University of Georgia found that payday loan borrowers often come from middle- and higher-income households, not just poor or lower-earning populations. Mar...

Published:  Sat, 26 May 2018 18:00:00 GMT



Payday loans going before UARB

If you're short on cash and bills are piling up, a payday loan may be a solution. That's how Cash Money promotes its outlets online, but a financial adviser says there are better fixes. "They serve a ...

Published:  Thu, 31 May 2018 13:18:00 GMT



Our View: Don't repeal rules on payday loans

To its credit, North Carolina was a national leader in saying no to the payday lending that takes advantage of people who struggle to get by from paycheck to paycheck. Payday lending has been illegal ...

Published:  Tue, 15 May 2018 01:30:00 GMT



Digging out of Debt: Minnesotans tackle payday loans

FARGO N.D. -- Banks and churches are teaming up to get people in crisis out of payday loan debt. People in Minnesota are more prone to falling into this debt trap. In North Dakota, you can have up to ...

Published:  Mon, 04 Jun 2018 21:01:00 GMT



Finally, a crackdown on predatory payday loans

The Consumer Financial Protection Bureau's new rules for payday loans and car title loans have drawn the predictable cries of outrage from lenders, particularly small storefront operators who say the ...

Published:  Mon, 09 Oct 2017 18:00:00 GMT



Senate approves payday loan regulation bill

Looking to fix a failed 2008 law and address what are among the highest rates in the nation for small-dollar loans, the Ohio Senate convened a rare summer session Tuesday and passed new payday lending ...

Published:  Tue, 10 Jul 2018 16:03:00 GMT




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