There are always times in life that challenge our financial health, and how we deal with them can determine how our finances go in the future. Millions of Americans live paycheck to paycheck and have little to no ability to deal with sudden challenges to their financial health. Where are these individuals to turn when they need money fast to solve a problem? Banks and credit unions are likely to turn them down, especially if they have poor credit or none at all. Instead, these individuals should consider a cash loan to solve financial problems they are facing.
A payday loan is a cash advance designed to help individuals solve short term financial problems they might be facing. A cash advance is a small, short term loan that is available to many without a myriad of hoops to jump through in order to obtain it. The typical requirements for a cash advance include the following:
- Be at least 18 years of age
- Possess a valid checking account
- Proof of stable employment
- Provide valid contact information
The benefit of obtaining a payday loan from an online lender is the speed and ease of the process. Not only can you submit a request for approval online, lenders can direct deposit the funds you need into your checking account as soon as the next business day, if approved. Lenders can not only direct deposit your loan money into your checking account; they can also automatically collect your loan repayment at the end of the loan period from your bank account.
Any individual considering a payday loan should make sure that there need for the loan is a true emergency. Payday loans are ideal for dealing with costs stemming from auto repair costs, home repair costs, or sudden medical bills. They are also useful for avoiding late fees on bills or overdraft charges on checking accounts. Be careful when using a payday loan for more luxury based purchases such as big screen televisions, video game consoles, or vacations. Payday loans are very short term and if you don’t have the money for luxuries now, you aren’t likely to when your next paycheck arrives.
If you think a payday loan is right for you, turn to AAAcash.com for all the information you need or to apply for a loan of your own.
Note: “One hour cash,” “instant cash” and other disbursal time estimates indicate possible disbursal rates. Actual disbursal may vary, but will arrive no later than the following business day.