More consumers are taking advantage of short term personal loans to meet cash needs for emergencies and monthly bill obligations.
Cash advance loans are unsecured personal loans offered to consumers in 24 to 48 hours. These loans are unsecured because the consumer does not need to secure the loan with a valuable asset such as a home, car or other valuable assets.
Loans are usually offered in amounts of $100 up to $500. Most consumers take out loans between $200 to $500 at a time. Others who earn higher incomes, can get up to $1,000 but it is advisable to keep loan amounts to the minimum that you need.
How can I get a cash advance loan?
The two main options include getting a loan, online or visiting your neighborhood cash store. In most cities, a quick search in the phone directory or online search will yield a list of neighborhood cash store locations, that you can visit in person and apply for a loan. A loan representative can answer any questions that you have about the loan process.
There are advantages to using both.
Online cash advance loans offer cash, discretely and everything can be done in the privacy of your home or even via a mobile device. The application process is completed online, by filling out a form with basic information, including your name, address, income and place of employment. Once your loan application is submitted, a representative of the lender will call you to verify your information and approve your loan. Cash is wired to your checking or savings account, in a few hours.
What does "no faxing" mean?
Some cash advance lenders offer a "no faxing" solution. The term refers to a feature that allows, a consumer to take out a loan without having to fax over documents, including pay-stubs, bank statements and other documents that would be, usually required for a loan. No faxing, therefore makes the loan application process, easier, convenient and faster.
What does "no credit check mean?
The "no credit check" feature is advantageous for applicants with less-than perfect credit or no credit history. Unlike the traditional process of getting an unsecured loan, a no credit check advance, does not require, the lender to get your credit report from the three leading credit bureaus: Equifax, Experian and TransUnion. This means that you can get a loan, even if, you just filed for bankruptcy or foreclosed on your home.
Another advantage to bypassing the credit check process is that, there are no inquiries against your credit report. This is advantageous because credit inquiries can lower your credit score.
How do I repay my loan?
Loans are usually repayable in 14 days, with some lenders extending the repayment period up to 30 days. The interest rate on your loan depends on your loan amount.
What are the qualification requirements?
Most lenders require applicants to earn at least $1000 per month, be 18 years or older and be a citizen of the United States. Another important requirement is that the applicant must be employed with the same employer for a least 90 days (approximately 3 months).
Ensure that you complete your loan application, truthfully and thoroughly for expedited approval.
0 comments:
Post a Comment