
If you are considering a fast cash loan (Payday loan, fast loan cash advance pay, etc...) to the user through a difficult financial time, we an intelligent decision. Despite the ridiculously high APR to the loan providers charge a Payday loan is often cheaper to pay the cost of return control, credit card late fees, costs of re-connection etc.
Here are 3 myths that are often mistakenly associated with a loan Payday advance.
MYTH: Quick Cash Loan providers charge outrageous rates
THE TRUTH ': you need to compare. A Payday loan is cheaper than other alternatives customer.
Here's a scenario: You have forgotten that they had no money in your account, but still bought stuff debt with your credit card? Maybe you have only 4 times in one day.
It 'amazing how you can lose track of our finances, but for all of us ..
Guess what ...
Each incident costs only $ 35 in NSF fees from your bank. 4 These withdrawals of $ 10 cost only $ 140 dollars in taxes! Ouch! The cost of borrowing $ 100 from a supplier to pay cash loan is $ 15 - $ 20 to $ 100. The APR of this method is 391% which seems high, but the sky compared to over-charge from your bank, it makes sense.
The solution here is if you know that there will be short of cash, but you need to use checks or debit cards, the costs. May be better to put a Fast quick cash account and use only when you know that you incur any late fees.
MYTH: fast cash loans still create a spiral of debt for the client
Truth: most users are responsible borrowers, and have no problems in managing the short recovery period.
These loans are short-term solutions and most borrowers realize the danger of being wider. About 60% of users again - which means that the loan not to renew or extend the recovery period.
Studies have also revealed that:
66% of Payday loan customers use the service only covers unforeseen costs
34% use the prepayment of loans for an estimated cost
70% of the loan cash fast that users use the service 1 time per month.
MYTH: ready to prey on unsuspecting customers
THE TRUTH ': There are strong laws in place to protect customers to be exploited.
The immense popularity of these loans as a discreet and dignified way to solve temporary cash flow speaks for itself.
70% use cash loans fast because of the convenience (fast, easy ...)
96% are fully aware of the rights they will face. Most of State that have been cited as the tax APR. Most believe that fast cash loans are useful (92%) and only about 12% of state who were dissatisfied with the service.
In addition, 33 states and DC provide balanced, responsible for the regulation before paying companies.
Summary
Why not consider a loan of money quickly when you know you will be short of cash and will face fines or charges? As a workaround, May is a lot of money, despite the high APR. It 'easy to find quickly a reputation One hour Payday loan provider (see link below) and put in place and approval takes just minutes.
It is essential to find a quick cash loan provider of online trust. Understand how to choose a Payday fast cash loans or supplier - put your identity and get the money you need.


