Why Should You Choose an Online Payday Loan? Are They Really Worth It?
Whenever you find yourself in a tough financial spot, you may feel that you have run out of options. Millions of Americans experience this every year, especially in the present tough times. So, if you are currently facing a financial crisis, remember that you are not alone.
However, there is one option that you should not ignore - payday loans. Of course, there have been some horror stories and bad press about payday loans. But the truth is payday loans are regulated both federally and by each state. In fact, each state has its own regulations and restrictions on these types of loans. They are not as bad as many people portray them.
Here are some reasons why you should consider an online payday loan:
Easy and Fast Application Process
Traditional lenders like banks require tons of paperwork, long waits, hard credit checks and still deny most loan requests. Payday loans are often done online. The loan request form is very short and simple and can be done in just 2-3 minutes. You get an answer in seconds after submission and, if approved, are connected directly to your lender. The whole process is so much simpler, easier, and secure.
Perfect for Emergency Situations
Cash shortage emergencies can be really scary. Whether your car broke down or you have emergency medical expenses/ overdue utility bills that need to be paid, you may find yourself in a financial emergency.
A payday loan can be requested with incredible speed right from your smartphone or pad/pc. Your current and near-term income is the primary factor in gaining approval. This makes the whole process simple, easy, and stress-free. If approved, you get cash in your bank account in 1 business day. You can use it however you want, and there is no collateral required (you no longer have to risk your car for a small loan).
Bad Credit? It Really Does Not Matter
Many people have poor or bad credit, and it is often just a result of tough circumstances. Banks and credit card companies do not care; you will not get money from them with a poor credit score.
With online payday loans, it does not matter. Your credit situation is not really important. Your current income is the best indicator of your ability to repay your loan, and that is what online payday lenders want to know.
Why Do You Need a Payday Loan?
As mentioned above, there are many reasons people need a payday loan.
All of them are legitimate. Lenders do not care what the reason is. They know tough situations can occur for a thousand reasons and can provide that emergency cash for those who need it. Keep in mind that online payday loans are fee-based loans. You often pay between $15-30 per hundred dollars borrowed. However, that is far less than what your bank will charge you for those 4 checks you wrote that are about to bounce. At $35 per check, you will get hit for $140! Your fees will be far less than the bank fees. And utilities are worse. They will hit you with fees, penalties, new deposits, setup fees, and so on, amounting to hundreds of dollars.
If you need an online payday loan right away, then FaaastCash is here to help.