Throughout the difficult economic times, the entire country seems to feel cash-tight, and many people seem to have no enough money to pay for the necessities, and most people have already pawned everything in the local pawnshop. There are many options to get cash quickly, including payday loans and signed loans.
Payday loans are easy to obtain and do not require a credit check. Many payday loan companies only require a valid state ID or driver's license, proof of income, a valid current checking account, and your social security card. Although these loans usually have high interest rates, they are one of the easiest ways to make money quickly. Most of these loans are based on your current income, so your loan will not exceed your income, as the loan you get from the bank will depend on your current debt. Payday loan companies usually give you 14 days to pay off your loan, and your due date is based on payday. They are renewable so you can use it when you need it. Some states have restrictions on the number of times a payday loan can be issued continuously. In Oklahoma, you can get five consecutive loans, and then the state needs a forty-eight hour "cooling-off period" to renew. Oklahoma has also enacted a law prohibiting you from lending to more than two different loan companies at the same time. The easiest way to find out the laws and restrictions in your state is to contact the nearest payday loan company, which makes it easy to find your yellow pages.
Signed loans or unsecured loans are slightly different from payday loans. These are usually based on your credit and require a state ID, driver's license, social security card, valid checking account and proof of income. Although you can only get some unsecured loans with a good credit score, there are still many places that can help those with bad credit, bad credit or no credit at all. Find the best method for you; contact your local unsecured loan office on your local Yellow Pages. Signed loans do not require any collateral, just pay to pay for your words [your signature]. Just like payday loans, these loans usually have high interest rates, so be sure to ask the total loan amount before the loan. Unlike payday loans that expire on each payday, signed loans are usually split into equal repayments over a longer period of time, and sometimes repayable.
Both forms of lending are quick and easy ways to get cash. Keep in mind that both of them have high interest rates, so make sure you can repay the money you borrowed. Failure to pay between the two will have different consequences. If you have not paid the loan to the payday company, they will immediately deposit your check for settlement. If your check does not clear your bank account, they will sue your full loan, including court fees and account fees. If you don't pay off, the microloan will quickly become a nightmare. Signing a loan takes many of the same steps. If not repaid in time, both loans may eventually be jailed for fraud. But don't let this be too scary, because these loan companies will work with you to prevent it from going too far. Anyone considering considering borrowing from either of these two options should do their homework thoroughly and fully understand the services offered by each unique company! All companies offering these loans should have enough information to provide you with the easiest way to get cash.