Is
your car broken down and in need of repairs? Washing machine made its last trip
through the rinse cycle and needs to be replaced immediately? Forget to pay
your cell phone bill and now you are facing disconnection? Life's emergencies
call for fast cash.
If
you have bad credit but you need cash fast, you may want to look into a fast
cash loan. A fast cash loan (sometimes called a payday loan or payday advance)
is a short-term loan that can help you make "ends meet" until your
next payday.
No
Credit Check Required
The
fast cash loan process is simple. The only requirement is that you have steady
income and a checking account with a positive balance. The best feature of this
loan is that there is no credit check. Virtually everyone can be approved for a
payday loan regardless of past credit blunders. That makes getting the cash you
need now a simple and convenient solution that will help you avoid the
embarrassment and hassle of bouncing cold checks.
Easy
Application, Fast Approval
To
apply for a cash advance loan, you will first fill out an application. You will
be asked general contact information and employment information. You will need
to present copies of your picture identification and recent paystubs. Some
processors will ask for two to three personal references that they can contact
in the event that you default on your loan. You will also need your last bank
statement, as well as a blank check.
You
will write a post-dated check in the amount of the fast cash loan and a modest
interest charge to cover servicing the loan. The processor will hold the check
for an agreed upon period of time, usually not exceeding one month. The loan
processor will give you either cash or a check for the amount of your loan; in
some cases, the funds will be electronically delivered into your checking
account.
Discount
for Pre-Payment
When
the loan becomes due, you will either come back to pick up your post-dated
check, or the lender will deposit it into your checking account to receive
payment. Some lenders offer a discount on the interest that you pay if you pick
the check up early.
Online
Lenders Offer Savings and Convenience
The
most convenient way to receive a fast cash loan is to apply online via the
Internet. There are many excellent lenders online who not only offer the speed
of an electronic application and electronically signed documentation - they
sometimes offer less interest than a traditional walk-in payday loan store. You
may be required to fax or email a scanned copy of certain items, such as your
driver's license or state issued identification card. Online fast cash loans are
typically deposited into your checking account almost immediately, and the
approval process is nearly instantaneous.
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