The option of the one hour payday advance can provide a quick financial alternative for individuals who need money fast. Many online providers claim to be able to get money to clients rapidly while requesting a minimal amount of information. A potential borrower's name, address, age and amount and source of monthly income are generally the only data that is required to secure these rapid loans. The money may be made available through a variety of methods. Some providers will deposit the needed cash directly into a client's checking account. Others will send the money via telegraph. Once an application has been filed, a potential borrower may need to send documents by fax to the lender that verifies the information. Some lenders have specific pay back requirements. These providers may automatically deduct the loan amount plus interest from a borrower's checking account after money has been deposited following the nearest future payday. Whatever method is used, the one hour payday advance is a popular option for some individuals.
The fees and interest charges that are assessed by these lenders can vary widely so potential borrowers should definitely shop around. Fast cash usually requires fast pay back and steep penalties if a payment is missed. A financial emergency can happen to anyone, but the method of coping with these emergencies may require careful examination. Credit cards could provide a better option in these emergencies. The interest rate that will be charged will often be lower than those that are offered with the one hour payday advance and a card holder will generally have much more time to pay off the debt. For anyone who lacks financial discipline, these advances could prove to be both addictive and expensive. Some states limit the practices of these extreme short term lenders while some have outlawed them all together. The ability to pay these advances back is not a major concern for these lenders. Some companies do not even require the potential borrower to fax documents that verify the information that is needed including proof of income or employment. If a borrower finds themselves in default of these short term loans, it can work to the lender's advantage. Extra fees and higher interest rates may apply every time that a payment deadline is missed. These factors can make the one hour payday advance a risky proposition for the borrower.
These advances come under the category of the unsecured loan and can range from as small as one hundred dollars all the way up to one thousand dollars, fifteen hundred dollars or more. These loans may go under a number of names including the payday loan, the cash advance, the deferred deposit, fast cash loans, or bad credit loans. The main selling point of the one hour payday advance is the quick turn around on funding. Folks who need cash fast may turn to this kind of lending option in a pinch. While the requirements for these advances are far from stringent, a potential borrower must be at least eighteen years old, must have either a job or some source of income that is regular, and a checking account that is active. Some of the issues that could cause an individual to be turned down for one of these loans could include a history of default in regard to short term loans.
Most one hour payday advance loans require that the amount of money that is borrowed be paid back following the next pay date. The trap here can involve fees that are charged when a payment deadline is missed. Many lenders are more than happy to refinance the short term loan if a borrower can't pay the funds back on time. In fact, many lenders will go ahead and automatically refinance the amount of the advance once a borrower has missed a payment. A borrower could find themselves significantly and rapidly in debt simply by doing nothing. Many of these providers of the one hour payday advance will also allow a borrower to pay for interest and fees only, keeping the high interest loan alive. Many of these companies offer borrowers the opportunity to apply for an advance twenty four hours a day, seven days a week. While the standard banking holidays can occasionally slow things down, the one hour promise is generally consistently fulfilled for applicants who qualify. Exceptions to this promise could occur if a potential borrower does not have a checking account that will accommodate direct deposit.
Even though these loans might seem to be easily obtainable, there are certain circumstances that can present roadblocks, at least temporarily. If a potential borrower does not have an active checking account, but does hold a savings account, there are lenders who can accommodate this circumstance, but a borrower will need to seek these out. Individuals who are living on a fixed income or on government benefits can still be approved for a one hour payday advance. Proof of a regular income is the only requirement that many lenders need. The lack of a valid driver's license need not be a deal breaker. Many providers will accept a passport or a social security number in lieu of a valid driver's license. The fact that these advance providers will generally not do a credit check on potential borrowers has made this option a popular one for some.
The fees and interest charges that are assessed by these lenders can vary widely so potential borrowers should definitely shop around. Fast cash usually requires fast pay back and steep penalties if a payment is missed. A financial emergency can happen to anyone, but the method of coping with these emergencies may require careful examination. Credit cards could provide a better option in these emergencies. The interest rate that will be charged will often be lower than those that are offered with the one hour payday advance and a card holder will generally have much more time to pay off the debt. For anyone who lacks financial discipline, these advances could prove to be both addictive and expensive. Some states limit the practices of these extreme short term lenders while some have outlawed them all together. The ability to pay these advances back is not a major concern for these lenders. Some companies do not even require the potential borrower to fax documents that verify the information that is needed including proof of income or employment. If a borrower finds themselves in default of these short term loans, it can work to the lender's advantage. Extra fees and higher interest rates may apply every time that a payment deadline is missed. These factors can make the one hour payday advance a risky proposition for the borrower.
These advances come under the category of the unsecured loan and can range from as small as one hundred dollars all the way up to one thousand dollars, fifteen hundred dollars or more. These loans may go under a number of names including the payday loan, the cash advance, the deferred deposit, fast cash loans, or bad credit loans. The main selling point of the one hour payday advance is the quick turn around on funding. Folks who need cash fast may turn to this kind of lending option in a pinch. While the requirements for these advances are far from stringent, a potential borrower must be at least eighteen years old, must have either a job or some source of income that is regular, and a checking account that is active. Some of the issues that could cause an individual to be turned down for one of these loans could include a history of default in regard to short term loans.
Most one hour payday advance loans require that the amount of money that is borrowed be paid back following the next pay date. The trap here can involve fees that are charged when a payment deadline is missed. Many lenders are more than happy to refinance the short term loan if a borrower can't pay the funds back on time. In fact, many lenders will go ahead and automatically refinance the amount of the advance once a borrower has missed a payment. A borrower could find themselves significantly and rapidly in debt simply by doing nothing. Many of these providers of the one hour payday advance will also allow a borrower to pay for interest and fees only, keeping the high interest loan alive. Many of these companies offer borrowers the opportunity to apply for an advance twenty four hours a day, seven days a week. While the standard banking holidays can occasionally slow things down, the one hour promise is generally consistently fulfilled for applicants who qualify. Exceptions to this promise could occur if a potential borrower does not have a checking account that will accommodate direct deposit.
Even though these loans might seem to be easily obtainable, there are certain circumstances that can present roadblocks, at least temporarily. If a potential borrower does not have an active checking account, but does hold a savings account, there are lenders who can accommodate this circumstance, but a borrower will need to seek these out. Individuals who are living on a fixed income or on government benefits can still be approved for a one hour payday advance. Proof of a regular income is the only requirement that many lenders need. The lack of a valid driver's license need not be a deal breaker. Many providers will accept a passport or a social security number in lieu of a valid driver's license. The fact that these advance providers will generally not do a credit check on potential borrowers has made this option a popular one for some.
For more information: http://www.1HourCashKing.com
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