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.

Wednesday, July 17, 2013

Payday Loans - The Good and the Bad

Payday Loans - The Good and the Bad
Payday loans are a quick and easy method of getting cash when you need a short-term loan.Once you have one, they are then repaid from your next months' salary (hence 'payday' loans). The sums lent can vary but they are usually for small amounts, from £50 to £1000. They can be used as an easy way to get hold of cash for sudden emergencies and loans can be processed and approved within hours rather than the traditional loan you may get from more established financial providers. They are also available for people who have a 'high risk' financial history that would normally preclude them from getting a loan elsewhere.

They can have drawbacks; one of which is the very high cost of the loans that can be charged with up to 20% a month interest. This is a lot more than you would normally pay but at the same time cheaper than paying bank fees for unauthorised overdrafts. Other cons are fixed repayment dates that may not coincide with your normal working payday, causing costs to be added to the loan.

To apply for payday loans is a very easy process and can be done online or over the phone. Once you have requested an amount, the company will do a quick credit check (some companies actually offer loans without these) with regard to confirming your employment or your benefits either by checking your bank statements or other documents and if successful, your money will be with you in 24hours or even less. Most companies will offer you the option of repaying the loan early but if not, the money will be deducted on or close to your next salaried payday. You are given the option of carrying the loan forward to your next payday but are warned, this can be expensive as fresh charges are applied.

The advantages of payday loans are many and as mentioned before, they are a great way to get very quick access to cash in an emergency. You can manage them online rather than having to visit a branch or bank offices. If you pay them back promptly and on time, they can also be a good way to boost your credit rating if you don't have one already. They can save you from having to borrow from friends and family which can always cause conflict and they save time filling in huge application forms with normal lenders.

As always though, there are disadvantages and as mentioned before, the charges can be high. This is due to the risky nature of the lending and the potential for default meaning the lender passes these costs onto the customer. It can cost around 20% of the loan just to borrow the money and if you miss a payment then these costs can escalate, leaving you in more trouble than before. Bailiff costs are added to the loan if in arrears as well as various 'admin' costs too. These could double the amount you previously owed. Also be aware that some loans may also be secured against assets you own such as a vehicle and even your house. Getting into trouble could see you losing more than just money.Be aware that the market for payday loans online is still at a stage where unregulated and unscrupulous lenders are getting involved. This can mean a dangerous combination of high interest rates when repaying the loan and some unethical business practices if you go into arrears so be careful who you are dealing with.


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