Payday Cash Advance Loans have received something of a bad reputation but still serve to provide a very important service and to help a lot of people in need. Safe Loan knows and understands that some people get into debts from time to time and have emergency situations that arise at the same time.
According to a recent report by CNN, only about 39% of all Americans are in a financial position where they could adequately handle a $1000 emergency. Car transmission, two thousand bucks easy. Car wreck, who knows, but even if insurance ultimately covers it, how much money are you going to be spending out of pocket before the insurance check arrives?
Even a minor medical emergency can rapidly increase to tens of thousands of dollars in unexpected bills, especially if there is an overnight stay in an emergency room. The fact of the matter is that no matter how careful we may be, and how well we may budget our money, economic and financial emergencies happen all the time, regardless of whether or not we are prepared to handle them.
For whatever reason, payday cash advance loans seem to have gotten something of a bad reputation, but thanks in no small part to technological advances, these simple fast loans can be both lifesaving and provide financial recovery without any of the negative affects claimed by some.
Safe Loan seeks to help you manage money during better times, and to be here for you when you just need to find some way to get fast cash as quickly as possible.
What is the Cycle of Debt Associated with Payday Cash Advance Loans?
Some people I have heard tale, discuss this “endless cycle of debt” that is often associated with payday cash advance loans, but it is difficult to say where this myth comes from. In days of yore, there may have been some direct payday lenders that would charge loan fees and allow you to simply pay the fee whenever payments were due, ostensibly to renew the loan and to keep the payment in your pocket.
Oddly enough, this is effectively the same practice many pawnshops continue to this day for pawnshop loans. That being said, the pawnshops also serve a very important role in preventing people from going through a devastating financial catastrophe as opposed to just suffering a temporary economic setback from an emergency situation.
How Can I Avoid the Cycle of Debt When Using A Same Day Cash Advance Loan?
The key to avoiding any unpleasant surprises when you are dealing with pawnshop loans is to understand the terms of the loan, the fees, and to read the fine print. If you are looking for cash advance loans from direct money lenders or online, the key is just learning how to shop for the best deals for online cash advance loans.
While that may be difficult if you are just looking for money lenders near you, it is much easier when you use a provider like Safe Loan that does all the shopping for you. When you use Safe Loan all you have to do is wait until you have been guaranteed approval for a cash advance loan and receive the notification in your inbox.
When you are preapproved with direct money lenders for your cash advance loan then it is still up to you to determine which cash advance loans are right for you and which ones best meets your needs. From there, you just make the selection for the cash advance loan you want, and the money is often deposited directly into your bank account on the very same day.
What Are Cash Advance Lending Fees and Are they Hidden?
There is a federal regulation call the Truth in Lending Act which requires that all direct money lenders reveal all of the details of their loans, including pawnshop loans and Safe Loans used for cash advances. It remains very important that you read the details and understand the terms of the loan.
You will be given the opportunity to see all the relevant lending fees and interest rates for any cash advance loan. It is just up to you to make sure you know all the details. Rest assured however, that if you read all the details once you have been guaranteed approval for your payday cash advance loans.
Short of learning how to create your very own personal finance company, Safe Loan provides you with the best opportunity to get the best deals on payday cash advance loans. This is because when you fill out the simple fast loan application form, we shop your loan for you. You are only notified when you have been preapproved or when you have been approved for an instant cash loan from direct money lenders.
Are Pawnshop Loans Good for Payday Cash Advance Loans?
There are many States that do not offer cash advance loans, but they do have pawnshop loans available in most cases. Given the bad reputation of cash advance loans, it would seem that good things would happen when simple fast loans have been banned, but the reality is very different.
Still, it should be noted that Pawnshop loans can also help people avoid having a financial crisis turn into a catastrophic and destructive economic disaster. That being said, the pawnshop loans do require collateral to serve as security for your payday cash advance loans. There is also a great temptation as we previously noted in the opening section of this article as well.
Many pawnshops will offer you the opportunity to keep most of your money in your pocket by “just paying” a new loan fee, or maybe just making an interest payment instead of a payment on the principal value of the loan. This can be very tempting, especially when we are already in debt and hard pressed to pay our bills.
While given a choice between the two options, it is probably going to be a better choice to find the best deals online for payday cash advance loans, but ultimately the choice is up to the borrower. However, and not to toot our own horn, but companies like Safe Loan are fully equipped and prepared to do the shopping for you to make sure you always get the best deals on same day cash advance loans online.