Have you ever been caught unexpected by surprise expenditures? Maybe your loved one suddenly falls ill or your phone bill for a certain month is unexpectedly high due to unforeseen overseas calls? Utility bills are increasing as the cost of living increases each year and sometimes we may not always have the cash on hand to pay all these bills. If your savings are sufficient, they could easily cover these costs and only minimally inconvenience your life. But if they aren’t sufficient, direct cash advance lenders could be a solution for you.
When bills are big and unexpected, they could cause unnecessary stress on your health. In fact, in this economic crisis, cash is getting increasingly hard to come by as a high paying job and easy credit is hard to find. It is tiring to have to fret over these bills and brainstorm on how you can repay them in the short period of time. However, you could find out more about a good loan for unexpected expenditures. Find out more about direct cash advance lenders and maybe the unexpected expenditure will no longer stress out your life.
In our world today, there still exist some lenders who are able to make loans with little regards to credit ratings. They are direct cash advance lenders. They could help you tide over a difficult financial period, at least until your next pay check comes in.
The main qualification criterion for payday cash advance is your current employment. Also, you will need to have a transactional account and be greater than or equal to 18 years old. Direct cash advance lenders operate online and the time taken to take a loan is usually short, sometimes lasting for only a few minutes. Approval is almost straightaway too. This is because direct cash advance lenders understand that its customers require fast cash and try their best to meet these needs well. The loan is usually transferred into the customer’s account within 24 hours to guarantee customer satisfaction.
Before a cash advance loan is done, the company does due diligence on its customers too. Unlike protocol procedures used by traditional institutions that give our loans such as banks and credit unions, payday loans are made based on your current employment, whether you are receiving a steady pay check and verification of personal information. These procedures are set in place in order to protect direct payday loan lenders from default payments. This goes to show that the company has thought through its loan procedures methods and companies that don’t have proper due diligence procedures are usually more likely to be dodgy.
However, because of the expenses incurred in the due diligence process and because loans are made over only a short period of time, interest rates charged by direct cash advance lenders are slightly more expensive than that of traditional loans by banks and credit unions. Also, most payday loans are commonly returned within two weeks from the date of receiving the loan. But despite this, direct cash advance lenders are still a good option as they do not discriminate against customers with bad credit history as credit ratings are not one of their most important criteria for loans.
To find the best direct cash advance lenders, it is advisable to compare lenders across the industry. You can get a recommendation from an online agency. These recommendations are not charged and if you get many recommendations, you can compare them and make a decision. If a company appears often on many of your recommendations, you should highly consider going for it as they are probably reputed firms that operates across the country and provide superior customer service.
Top direct cash advance lenders typically have these few characteristics. They usually provide INTERNET access to your personal account so that you can easily check your account and manage your loans from there. You will then be able to determine the balance owed, payment dates, interest rates and up to date account information. In addition, the website should also have an updated Frequently Asked Questions page to answer your common questions as well as a customer service email or hot-line that is friendly, helpful and responses fast.
Last but not least, before accepting a payday loan from a direct cash advance lender, you should review all the term carefully and ask all your questions to avoid getting into a contract that you are not agreeable with. Also, remember to check that you are able to make all the repayment dates. It is a good idea to set the repayment dates a few days after your usual salary payday so that you will have sufficient funds to return the loan. This is important to avoid paying NSF fees. However, for safety, do also remember to inquire about the costs of not meeting repayment deadlines as well as the availability of extension of deadlines. After all, it is good to ask as you never know if you will run into liquidity problems and not be able to meet your repayment dates.
If you do the necessary research, I’m sure you will find that direct cash advance lenders are a great solution for fast and easy credit.