Some of us find ourselves on the
wrong side of the credit system. It is hard, if impossible, to get financial
help when you really need it if your credit is less than good. Cash advance no
credit check loans are designed for use in dire situations, and when other
options are not available.
A cash advance loan is a short term
consumer loan that is offered against a paycheck. There are no credit checks
and the only collateral you need is a forthcoming paycheck. Most lenders prefer
to work with borrowers who have direct deposit, though this is not always
mandatory.
Payday cash advance loans have come
under fire and closer scrutiny from various quarters due to the interest rates
they charge. Despite this, the industry has continued to grow. And while they
are illegal in some states, they sometimes will exist under different names.
Are they all evil as has been purported?
Used as a one-time solution to a
pressing problem, and in the absence of other alternatives, these loans are
okay to use. In fact, it may be recommended that you get one if the situation
calls for it - such as paying for a medical prescription that just cannot wait.
In such a case, these loans can actually be a blessing. It is the continued or
long term use of payday advances that should not be encouraged.
How do you go about getting a payday
cash advance with no credit check? The best way is to apply online as you can
quickly and easily compare costs and requirements without ever leaving your
home or office.
You see, requirements differ from
lender to lender. For example, one lender may require a six month work history
with the same employer while another requires only one month. Also, the loan
amount offered can greatly differ as some lenders are quite stingy and might
offer you an amount far short of your need, which may not be much help.
There are a few things to watch out
for when searching for a payday cash advance loan. No credit check means just
that. If a lender turns around and tells you that they will need to run your
credit, walk away. You are taking on a high interest loan; don't add a credit
check onto your credit file.
Also look out for a lender that does
not disclose all information, especially concerning fees charged, right on the
onset. Though it is required by law that you receive such disclosure, some
lenders do not do this knowing that borrowers are usually in desperate
situations. They then surprise you with exorbitantly high rates, even by payday
loan industry standards. They often get away with this by having you sign a disclosure
statement along with the loan agreement.
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