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.

Saturday, November 9, 2013

Payday Loans Can Help Alleviate Short Term Financial Woes

There can be little doubt that payday loans have received a lot of bad press over the years. But despite the heavy criticism leveled at the high interest rates on low loan sums, there can also be little doubt that, properly used, these paycheck advances, as they are also called, can play a significant part in alleviating the financial pressures that individuals can find themselves in.

The whole structure of the loans place them in a completely different category to other aspects of financial lending. The very fact that they are loans repaid on payday means they are amongst the shortest term loans available. Basically, they are parachute payments that are design to cover the borrower for essential debts but which can be repaid in full within a matter or weeks.

Understandably then, payday loans are mostly sought by low income workers who have a limited amount of excess funds to spend on extra or unexpected vital expenses, such as health bills, for example. However, there are definite risks that come with these paycheck advances, but equally advantages that make a real difference.

The Risks Involved

While statistics have shown that there has been a large percentage of defaults on payday loans, the reality is that there is always a degree of risk involved in any loan agreement. The crucial difference is that loans repaid on payday are designed specifically to advance a percentage sum of an imminent income. What this means is that the repayment only needs to be taken from the salary when it comes though.

The problem with defaults on paycheck advances is that the repayment agreement is not adhered to, but the term of the loan is so short that restructuring the repayment schedule is not possible. However, the assurance that the borrower would direct perhaps USD200 of their next paycheck to the lender, is simply not honored.

The result is that losses on payday loans elsewhere must be covered and so interest rates are high. However, what is equally true is that the actual interest sum is relatively low, with just USD15 per USD100 on a USD500 loan is manageable. It only seems extremely high when presented as an APR, which can work out at 390 percent.

Why Seek Payday Loans

The question then is why anyone would want to apply for such a loan. Well, much of the default ratio is down to borrowers, who are unable to guarantee that loans repaid on payday, stating that they can. But there are many who do not misuse the loan option.

For them, there is an emergency that needs to be met and a paycheck advance is the best way to ensure it is paid. Often, there is no logic in seeking even a short term loan from a bank and committing to several months of repayments when the full amount can be repaid once a paycheck is received.

The advantage of payday loans then is that the debt is already covered, but there are insufficient funds to pay the emergency expense immediately. All that is needed is to gain access to the cash that would otherwise be spent on the pay check. Sticking to this philosophy will ensure no financial grief.

Donna Hammond is the author of this article. For more information about Bad Credit Unsecured Loan and Mortgages for Bad Credit please visit her website at


Post a Comment