Payday loans are a good source of emergency cash, especially for those with poor credit history and poor credit scores. For those people, it is almost impossible for them to find emergency cash, in addition to being exposed to high interest rate lenders and even being severely punished for not being able to pay.
These punishments are more like the Chicago rogue movies of the 1920s, not the 21st century society, but they still exist. Well, thank God, the ordinary people are provided with payday loans, so that ordinary people can quickly borrow money to get out of trouble. I know what it is like because I have to do this.
I will tell you how to get a payday loan in the near future, but first explain why you need to borrow. Many people think that they are not eligible for a payday loan for some reason. Here are some of the factors that make them feel this way.
Reason 1: My needs are not big enough, so I will be rejected.
Fact: Wrong! You don't need to give any reason. No one will ask you why you want a loan, or if they want, you can tell them what they are, because it has nothing to do with them. Consumer law does not require you to provide a reason for any loan you want, but the interest rate on the mortgage is lower than the normal rate. You can use a payday loan for vacation, wedding or pay for your child's school trip. You can even blow it in the bar or on groceries.
Reason 2: I can't return it on the next payday, so this is not a payday loan, I can't receive it.
Fact: Wrong! You can ' your payday loan and then repay on the next payday. That will cost you extra, but you can do it. However, don't try unless you are waiting for someone's life insurance to pass and you have to pay.
Reason 3: My credit history is poor and my credit score is rejected. I will never get a loan.
Fact: It's wrong again! Most payday loan companies do not conduct credit checks. If they do, they may just set your fees. Let us face the reality. If you are in good standing, you will use a credit card instead of a payday loan. Therefore, few people seek emergency cash with a good reputation.
Reason 4: I don't have a house or a car, so there is no security.
Fact: Wrong! Your fixed salary is your safety. If you do not pay, the lender can get a court order from your salary, and your employer must pay the lender before paying the lender.
Reason 5: I don't have a job or a bank account, so I don't get a payday loan.
Fact: Finally! Your job and salary are the margin you can provide to repay the loan – see Reason 4 above. In addition, the loan has been paid into your bank account, so if you don't have a loan, you won't be able to get a loan. You can get a mortgage on a house or anything of value, but no mortgage can't. In fact, most unsecured loans are collateralized by your income, and even if your wages are paid in full, your employer can pay the lender through a court order and then pay the lender!
But don't let the last paragraph worry you, because few lenders go so far without good reason. Your loan can be renewed until you have enough money to repay it, and some better lenders limit the rollover to attract more. Some people stop them at two points, giving you time to get together and pay back.
Many people bless payday loans because they provide emergency cash to help them get out of trouble. I did this, and although I was no longer in that situation, I urgently needed short-term emergency cash and applied for a payday loan to a company in the UK called payday. This is how my app works.
I need a $700 equivalent, so I only spent that much money [never get more payday loans than you need]. I found the company online and started filling out their online form. The initial habits are: name, address, date of birth, etc. I am waiting for the question: income, expenses, credit card details, how much other debts I have, etc., but they have passed from the future.
Of course, income will affect the amount of your payday loan. Not related to credit cards, credit ratings, expenses or other loans. No! I could have owed the Bank of England to Monte Carlo, but they are not interested.
My employer's name, address and phone number – fair. The amount required and my bank account details. Click "Submit." I did this and waited for a credit check. But no – after a few minutes, I received a call from the company reception. I received an external call to me: it was a payday loan company, just checking if the reception could transfer the call to me, which indicates that I did work there.
After about 10 seconds, I received an email confirming the loan and deposited the cash the same day. How easy it is! This is not only incredible, but also completely friendly, non-condemned and efficient. I can easily order a bunch of flowers for my wife. But this is not all.
The payment was made on the 30th of each month [I borrowed on the 2nd], but I was unable to pay, because although I said 30, I actually paid on the last day of the month, this is March 31 day. I made a mistake, so I called them and told them that they had no problems: they delayed the time for a week until the 6th of the following month, and gave me time, no extra charge.
For me, payday loans are a great way to get emergency cash quickly, as long as you know the high cost. I paid a 25% loan, and although the loan is high, it is OK for me because it solves a serious problem. I was 100% happy at the time, and this is the purpose of the payday loan. Not for buying a car or any other normal financial need, but for a real emergency.