What's the hardest part about getting a payday loan?
No, it's not the application process. The loan companies make that quick, easy and painless.
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No, it's not understanding the terms of the loan. The lending institutions are required to make their fees and term understandable and available upfront.
So what's the hardest part? Paying the loan back on time of course. Which is one of the most important aspects to getting a payday loan in the first place. If you can't pay the loan back in a timely manner you are going to accrue additional fees and charges making an already difficult financial situation that much harder for you to deal with.
I don't know about you but say I borrow 500 dollars for emergency car repairs today, which is Thursday, the 15th. Most lending companies want to be repaid on your next payday. My next payday would be two weeks from tomorrow, on Friday, the 30th. OK here comes Friday the 30th. Rent is due tomorrow. Can I repay the payday loan along with the interest and still pay my rent? Most likely not.
People who live from payday to payday like a lot of them do (myself included) have the same bills this paycheck as they did on the last months paycheck. I still have to pay my regular bills, plus I have to try to repay this payday loan. Can't do it guys.
Wouldn't it be nice if you could have a little more time to repay that loan without being penalized or having extra fees and interest added on? This would give you a few paychecks under your belt to set aside a little money each time. Well now you can. IF you go to the right company in the first place.
You need a company that will search a large database of different lending institutions to find the right one for you. They can get you the most money for the least amount of interest and still give you up to 100 days to repay your loan. The process is the same as applying to an individual lender. You still fill out the application and provide your personal, residence and income information. They just set you up with the best match for your qualifications.
You can sometimes get a lot more money in a lot less time than by going on your own to each individual payday loan company mainly because by filling out that original application you are getting pre-quailfied so to speak.
It brings to my mind being sort of like a dating service but instead of "eHarmony" it's "eLoans"!
So if you need a payday loan today but aren't positive you can pay it back on your next payday, you might want to consider a loan matching service such as this. Their fees are reasonable and your peace of mind is worth it.
100 Days to Repay Your PayDay Loan?
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