The endless cycles of debt are just one of the many reasons that there is so much federal regulation and so many state laws for instant cash loans online. Unfortunately, when people need to find money fast, they often tend to overlook a lot of the normal standards that would offer them at least some protection from the more predatory lenders.
Even if you do not to get money in a hurry and do not have the time to look for the best deals on instant cash loans, and at the same time, to avoid usury and predatory lending practices, there is at least some help for you. There are many free loan service providers like Safe Loan who can help you to find the best deals on instant cash loans and at the same time, help you to avoid those costly and sometimes devastating cycles of debt.
When you use the free instant cash online loan services of Safe Loan, all you need to do is to fill out a single loan application form and we will do most of the rest of the work for you. We will process your cash advance loan application through our proprietary software and match you up with as many direct payday lenders as possible who offer instant money loans that match your needs.
When you have been guaranteed approval for instant cash loans you will receive a notification directly into your inbox. The money can be directly deposited into your bank account, generally within 24 hours, and all of your payments will be automated as well. This means that you never have to worry about getting trapped in a cycle of debt as you know all the related loan fees and all of your costs before you ever sign up for your cash advance loans with Safe Loan.
How Do Lenders Create Debt Cycles?
As was previously noted, there are many State and Federal regulations and laws regarding predatory lending practices and providing protection for instant cash loan borrowers using same day cash loans, ultimately serving to prevent the borrower from getting in to perpetual and endless cycles of debt.
Unfortunately, as we have seen with many credits card companies and pawn shop loans, there are many lenders who are willing to push everything from interest rates to loan fees in order to create an endless cycle of debt. So how do they do that?
If you owe someone a couple of hundred dollars and they say, just give me twenty bucks now, and you can pay me the full two hundred when you have the money. Are you going to fork over the two hundred bucks or just give them the twenty bucks and keep one hundred and eighty dollars for your head, and worry about the two hundred dollars next payday?
What Are Loan Fees?
History has shown us time and again that many people are willing to carry over the full debt and just pay the loan fees so that they can keep most of their money in their pocket. In this way, the lending companies and direct payday lenders are not charging extra interest rates, they are not charging any costs that would put them in violation of any laws.
Many of these direct payday lenders will actually claim that they are providing an invaluable service to their borrowers by charging them hundreds of dollars just to borrow a quick fifty bucks. It does not take long for these loan fees to add up to excessive or even usurious amounts of money, and for the borrower to be left holding the bag for the entire amount of the loan on top of all of the fees that they have already been paying.
How Do Automated Loan Payments Prevent Cycles of Debt?
The best way to avoid giving in to temptation is to avoid the temptation wherever possible. If someone is offering you the opportunity to keep more of your money in your pocket, and at the same time, reminding you that the fee for doing so is only a small fee, it can be tempting. This is especially dangerous if you have taken out a simple fast loan for something other than a financial emergency as many people have routinely done in the past.
They fail to remind you however, that this small fee will add up to real money over the course of a few short weeks. In terms of unpaid balances on credit cards, these fees in addition to the interest rates can quickly add up to many times more than the cost of the original purchase.
The same holds true for pawnshop loans where the pawnshop lenders will allow you just to pay the small fee to extend the loan. It does not take very long at all before those small fees add up to substantially more money than the pawned items cost to begin with.
It is very easy to get caught into a trap of convenience or an endless cycle of debt and pay even more than it would cost to replace the pawned items with brand new ones in many cases. Perhaps among the best ways to avoid this very tempting trap is to avoid the temptation to begin with, and seek out automated cash loans where you are not given the choice.
That may seem a bit callous at first, but have you ever had your wages garnished? They do not offer you any chance to pay off a little less and keep any of your money for yourself, yet people survive wage garnishing on a regular basis. Automating the payments may hurt a little bit in the short run, but it will ultimately help you to save much more of your money and put you in a better financial position at the end of the day.
How Do I Find the Best Deals for Automated Cash Loans Online?
One of the first things you should do is to figure out where you can save money on your expenses. If you get an extra $5000 every year, that will probably help at least some. If you still need some financial assistance from time to time, many of the instant cash loans online are a surprisingly good option and often much better and even cheaper than paying off debts with credit cards or other payday advance loans.
Next, you need to use the free cash advance loan services of Safe Loan so that you can be assured of finding the best deals on instant cash advance loans whenever you need to find money in a hurry. Using such a company will provide you with the opportunity to compare all of the terms and conditions including the pay rates, interest rates, and other fees that may be associated with instant cash advance loans online
Does Same Day Loan Help Me Avoid the Cycles of Debt?
Safe Loan gives you a free service to help you find the best deals on instant cash loans online with as many different direct payday lenders as possible, and to give you the chance to examine all of the fees before you make any final decisions. In short, Safe Loan helps you to find the best deals on instant cash loans online every time that you need money fast, and at the same time, helps you to avoid any chance of getting into an endless cycle of debt.