Most Americans buy products and services and pay for them later. Cash advance payday loan fits their lifestyle perfectly as apart from helping them out during an emergency, fast cash payday loan allows them to indulge in other expenses before they get their next paycheck. There is a one time fee applicable to a guaranteed payday loan and the borrower is supposed to return the loan amount along with the lender’s fee and interest charges when he gets his next paycheck.
Getting a cash advance payday loan is very easy as all that you have to do is to provide information to the lender regarding your employment, monthly income, checking account details and age. The approval to the payday cash loan application does not take much time and a loan amount up to $1000 is normally deposited into your checking account in no time at all. However, you will have to give the lender either a post-dated check for the amount of the loan plus the interest charges or an authorization for electronic checking withdrawal of that amount. This authorization will automatically credit the account of the lender with the agreed loan amount that will be debited from the borrower’s account.
The most important aspect of cash advance is that the borrower must honor his commitment to repay the loan when he gets his next paycheck. There are many people who opt to roll over the original loan amount every month and merely pay the finance charges. This is a very dangerous practice as the service charges will keep mounting and the borrower might end up paying $30 every two weeks for a $100 dollar loan. Eventually, the amount to be paid in fees will exceed the original loan amount.
Hence it’s essential to realize that a cash advance payday loan is an emergency tool that should preferably be used only in times of grave crisis when you find no other alternative to solve your financial predicament. Let’s face it – the interest rate applicable on such loans is by no means small and there’s no point in giving away your hard earned money to lenders if there is no real emergency.
A cash advance payday loan is an ideal solution to your urgent requirement of money but taking such a cash advance should only be resorted to in an emergency. With no credit checks in place, you get a guaranteed payday loan. With the facility of a fast cash payday loan, you can get cash instantly. Visit Best Payday Loan to find out more about payday loan application process.