A Helping Hand: Payday Loans

As the week creeps to an end, you stare at the growing pile of bills on the kitchen table. Black and even red numbers demand immediate payment, and subtle written threats of discontinued service and severe legal action echo the ones you repeatedly hear on the phone. You feel frustration and anger, because it is not that you don’t want to pay these companies. You just don’t have the cash right this moment. That’s where payday loans come in to offer a little assistance.

A payday loan is simply a small amount of money leant to you by a company until your next paycheck when you will pay it back plus a reasonable amount of interest; this is how these companies make a profit. Getting one of these payday loans is a fairly simple process that shouldn’t take over two hours. Generally, there are several simple requirements you must meet in order to qualify for a loan, but speak to the specific company you plan to borrow from to be sure. You need to be eighteen years old, and you must also have a regular paycheck upon which the loan will be based. Some loan companies additionally require you to have a functioning fax machine, but there are also an increasing amount of new programs which emphasize a No Fax Payday Loan, making the process simpler in this new technological age.

If you meet these few requirements, contact one of the many Payday Loan Companies you can view online, in the yellow pages, or, likely, located in your local shopping center or strip mall. This can be done by going into one of their offices or finding their information online. You will need to bring at least one type of valid ID as well as a paystub to prove your employment and income status. The loan company will process your request, put you into their system, and issue your loan. With this money, you will be able to pay your bills, make emergency repairs, or even buy a few Christmas presents for your little ones, and you will have a certain, later, date before which you need to repay the money (plus interest) to the company.

Getting a payday advance loan is simple and unintimidating (unlike going to the bank where they seem ready and happy to reject your attempts), so you won’t be hassled by loan clerks who want to lend to you, even if you do not have perfect credit. If you pay back the loan on time, your credit won’t suffer, either. While payday loans can be used as a rare, necessary helping hand, it is up to the individual borrower to make sure they do not fall into a cycle of using them too much. This can be done by keeping careful track of your finances and expenditures and speaking to a knowledgeable advisor. So, if you’re ready to get out of the deep hole the sinking economy has trapped you in, reach out and accept the help.