Advance Payday Loan
Advance payday loan is a short term advance cash designed for those in emergency situation. Generally, this loan required to be repay back within 2 weeks. Borrower may request for extension, but extra interest will be charged according to the extension period. The loan are ranging from $500 until $1,500, some lenders set their limit much than $1,500, all depend the lender companies.
To qualified for the loan, a borrower must :-
1) Have an income above $1,000 (monthly)
2) Having a checking account at least 3 months old
3) Employed more than 6 months
Some facts regarding the payday loan that borrower must know
1) Read and understand the whole agreement of the loan, you must know how and when to pay back the loan. Ask about for earlier pay-off requirements if you want to save some interest, some lenders will allow pay-off earlier with discount. (There are many "loan-shark" in the loan market, make sure all details are stated as per negotiation and rate is correct as promised before signing loan agreement.)
2) Borrow as little as you can, always think about the additional interest and fees pay to the loan. This loan is solely for emergency use only. The expensive interest will turn you down and make you default the payment.
3) To save money and build a good relation with lenders, you must make your payment on time. And try to pay-off earlier if you can.
4) Other than payday loan, there are other sources to get financial assistance such borrow from friends or relatives. This might be hard for some peoples, after all the interest and risks are smaller than payday loan.
For more cash loan information, please check out Cash Loan Guide instead of Advance Payday Loan
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