WHY CHOOSE ICASHLOANS ? : When you need cash quickly you want to work with a service that is reliable and experienced in the payday loan industry - iCashLoans is both. We pride ourselves on connecting our customers with the best payday lenders to meet their needs. Why waste time visiting dozens of websites trying to figure out which lender will serve you best? iCashLoans is the only site that you need to visit when you’re looking for a fast, secure payday loan.

Cash Loans: "We Search 100+ Lenders Money in Your Account Next Day"

About Us:

Our services are designed to help you find a reputable payday lender to work with. iCashLoans has a large number of lenders in our network, and we are confident that we can assist you in obtaining the best payday loan to meet your needs. Everyone hits a rough patch financially at some point, and payday loans are a great solution for short-term cash flow problems. You don’t have to worry about how you are going to pay an unexpected bill, or cover an emergency expense, between pay checks - iCashLoans is your source for finding payday loans. Using iCashLoans is 100% free to you - we do not charge any fees for our services. When you use iCashLoans you will save time and money. All you have to do is provide us with basic information and we will instantly search our network of lenders to find you the loan that meets your needs. At iCashLoans we pride ourselves on working with lenders that are fair and honest in their lending practices. Our main goal is to provide you with a great experience when searching for a payday lender. All lenders in our network are required by law to follow all of the rules and regulations related to payday lending. Don’t drive around town to visit payday loan shops, and forget about looking at website after website trying to find a loan with fair terms. iCashLoans is the only place you need to go to find a payday loan. We will search our vast netowrk of lenders instantaneously to find you the loan that you are looking for.

Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

Tuesday, July 30, 2013

Do Payday Loans Affect My Credit Score?

Do Payday Loans Affect My Credit Score
Oftentimes in life, the need arises to borrow quick cash, which is what makes the payday loan so appealing to many borrowers. Payday loans are the fastest type of loan to receive, and borrowers with all types of credit histories can obtain them because there is no credit check required to receive this type of loan. A payday loan can also be known as a cash advance or guaranteed loan. Because of the lenient requirements to receive funding in this manner, even those borrowers who have been through bankruptcy, divorce, repossession, and garnishment can be approved as easily as those with outstanding credit histories and great performance with past debts.

Applying For A Payday Loan

To apply for a cash advance loan, you will visit the website that has been established by the lender. There you will fill out an online application where you will be asked questions about your income that will be used to determine the amount of money that you can qualify to borrow. You will also be required to provide the lender with your checking account information, including ABA bank routing number so that your money can be deposited into your account. The term of the payday loan usually runs for around two weeks to one month. When the loan is due, the lender will make an electronic debit from your checking account to recover the money that is owed to them. As long as you have steady income from employment, retirement, or other benefits and a checking account, you can receive a cash advance loan.

How A Payday Loan Can Affect Your Credit Score

Although a payday loan is not granted based on your credit history, it can be very useful in improving your credit ranking. Many lenders (although not all lenders) report your payment of this loan to the major credit reporting bureaus. That means that even though a credit check is not needed to receive a cash advance loan, your prompt repayment can be noted on your credit record, effectively improving your credit score and credit ranking.

Inversely, if you are not a good steward of your payday loan and fail to repay the lender on time or make arrangements to do so, a negative report against you can be issued that will lower your credit score. Be sure that you are confident in your own ability to repay the lender prior to taking out a payday loan as the payment or payments are due rather quickly. Also, be aware that taking out any type of loan affects your debt to income ratio and therefore your credit ranking. Use the payday loan only when you have exhausted your ability to borrow money using a personal loan.

Why Choose An Online Lender?

The most expedient means of getting a cash advance loan is to go through an online lender. While there are brick and mortar establishments and lending institutions that offer the payday loan or cash advance loan, they often take more time than online lenders to process your application and provide you with the money that you need, and may have lower borrowing limits that will not adequately meet the emergency or urgent need that you have. Online lenders also offer an almost immediate deposit of your funds directly into your bank account so that you can have access to the money from your cash advance loan even faster.


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