Find out more on Debt Consolidation Credit Counseling In Phoenix Now!
Monday, January 5, 2009
Guaranteed payday loans are temporary loans that are designed to get you to your next pay check. Getting a loan of this type is very easy and fast, in fact you can usually secure funds within one business day. You can often secure funds on the spot, as long as you are trying to get the loan in the store, as opposed to online.
If you plan to apply for an advance in your pay, youll want to do the research to pick a lending institution. Legislation on these types of loans can be different depending on what state you live in. If state you live in offers no legislation, youll want to be completely clear on what the fees and finance charges will be before you borrow the money.
Finance charges on loans of this type can range anywhere from 15 to 30 percent of the amount borrowed in most situations. Since the finance charges can be quite large, youll want to only borrow what is truly needed. Youll also want to be sure you will have no problem paying the money back in full by the collection date.
Borrowers that are unable to pay the money back when it is owed, in most cases two weeks from the lending date, the interest will continue grow exponentially. The best plan is to be wise in the amount you borrow.
Some lenders will automatically withdraw your payment from your checking account, and others will ask you to write a post dated check. Either way, lenders usually want you to come back in to make the payment yourself.
In order to avoid a ton of extra fees, make sure that you can pay back the loan on time. People often end up paying late fees, and sometimes bounced check fees from their banks because they don't have the funds to cover the post dated check.
This type of loan is extremely quick and easy to get, but isn't usually recommended. If you take out a payday loan, use it with extreme caution.
If you plan to apply for an advance in your pay, youll want to do the research to pick a lending institution. Legislation on these types of loans can be different depending on what state you live in. If state you live in offers no legislation, youll want to be completely clear on what the fees and finance charges will be before you borrow the money.
Finance charges on loans of this type can range anywhere from 15 to 30 percent of the amount borrowed in most situations. Since the finance charges can be quite large, youll want to only borrow what is truly needed. Youll also want to be sure you will have no problem paying the money back in full by the collection date.
Borrowers that are unable to pay the money back when it is owed, in most cases two weeks from the lending date, the interest will continue grow exponentially. The best plan is to be wise in the amount you borrow.
Some lenders will automatically withdraw your payment from your checking account, and others will ask you to write a post dated check. Either way, lenders usually want you to come back in to make the payment yourself.
In order to avoid a ton of extra fees, make sure that you can pay back the loan on time. People often end up paying late fees, and sometimes bounced check fees from their banks because they don't have the funds to cover the post dated check.
This type of loan is extremely quick and easy to get, but isn't usually recommended. If you take out a payday loan, use it with extreme caution.
About the Author:
Trinity teaches individuals how to get easy guaranteed payday loans and about many other types of loans for individuals with bad credit.
posted by Credit Counseling at
3:49 AM
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