A payday loan cash advance is a short-term loan offered by a payday loan lender derived from your monthly take-home pay. At times, several people might come across an occasion at what time they want some cash help between two salaries. This is where an online cash advance loan comes into handy. Amid a number of online payday loan lenders to opt from, it can get a bit puzzling. An excellent approach to go is to come across an intermediary website that can find a right lender for your particular requirements.

There are a few requirements to be met for the borrower these include, the borrower should be a US citizen having a valid social security number, the borrower should in any case be 18 years or more of age at the time of applying for these loans, the borrower should be working for a reputed company for last 3 months and the borrower should have a monthly pay packet of $1000 or more. In addition, the borrower should have an active checking account with a US bank and his paycheck should be credited to this account directly.

Any person meeting these requirements is eligible to apply for these loans bad credit notwithstanding. As these loans are short-term loans the payday lender does not perform any credit checks on the borrowers credit record, besides the lender does not even ask for any type of collateral as these loans are unsecured loans hence these loans are applicable to people living in rented homes as well.

Typically, with the online process, you just have to fill in the online loan application form and give a few personal details like, your name, age, address, contact details, banking details, Social Security number and employment details. Your personal information is submitted to different payday lenders and you are matched with the right payday lender. Once you are matched to an appropriate lender he should provide you with $100 to $1500 depending upon your income and repayment capacity. The repayment term offered by the lender should be 7 to 21 days and lender should allow you top repay the loan amount along with all the dues on your next payday. Further he should be willing to extend the term of the repayment if need be although for a small fee.

As with everything in our lives, payday loan websites too have a few disadvantages. Payday intermediary websites do not really loan you the cash and therefore they cannot assure whether you will be accepted for a credit or not. You need to pay very high interest on payday loans and these can often be in the range of $10 to $30 per $100 you borrow per week. Usually, borrowers pay these loans back with their next salary. These kinds of short-term loans can help you at a time when you badly need some fast cash to deal with financial crisis. It is necessary to deal with payday loans with extreme care. Other than this it’s a great service to deal with your financial hiccups.

Author Bio: Christina is an expert in the field. For more information on payday cash advance, and one hour cash advance Please visit: http://www.advanceloan.net/

Category: Finances
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