Have you ever run so low on cash you couldn’t afford to pay your bills? It has happened to at least half of the Americans, and not just during overall economic downturns. Sometimes finances can be so troubling that it’s difficult to find help, especially if your credit score has collapsed. One way to provide at least a short term solution is with an Emergency Payday Loan.
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A Hassle-Free Solution
One of the attractions to a payday loan is that it saves you from embarrassment that can happen when dealing with traditional lenders. Not only will your cash advance be confidential, it does not require a credit check, which itself can lower a credit score. You can even have bad credit and still get approved. Turnaround time after submitting an application is usually less than 24 hours.
The great thing about an emergency payday loan is there’s a strong chance you’re eligible for one if you’re at least 18 years old and have some source of regular income. As long as you have a steady job or can provide proof of income from your own business (such as your most recent tax returns), then you will likely be approved. Even if your only source of income is from disability benefits or alimony, you can still qualify.
Understanding the Terms
The contract you sign with a payday lender is required to clearly express all terms of the agreement. While each lender has its own specific requirements for repaying the loan, it is common that these loans must be paid back within 30 days or when you receive your next paycheck. In many cases, these deals require you to give the lender your bank account information so that the lender can withdraw money automatically when the payment is due.
It’s important to consider all your financial options first before applying for an emergency payday loan, which will inevitably have a much higher interest rate than a conventional loan. But as long as you repay the loan on time, the interest rate will have minimal impact and you will at least enjoy some financial relief. When it comes to help you in your hard financial times, CashOne is always ready with solutions.
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