Time to Time, We All Find Ourselves Short On Cash Between Paydays
Do You Do?
advance loans are a quick, easy and confidential means to relieve your
financial situation until your next payday.
is probably the most saleable commodity in the today's modern world. It
does not matter how such credit services are termed, whether as cash advance
loans, payday loans or payday advance loans; and how these financial are
advertised on tri-media channels, via the internet or on the telephone
through e-commerce agents; the mere mention of credit and its immediate
availability resounds with much fervor to people in need of quick cash.
For every need out there, there is a credit instrument available in the
market today to match your fund requirements and term preferences. One
service that is popular and targeted to the employed sector is the Cash
Advance Loan. To qualify for this type of credit, all it takes is a personal
check from the borrower that acts as collateral and pertinent proof of
employment. This serves to guarantee the borrower’s capacity to pay back
the loan through regular subsequent paychecks.
This type of credit pre-collects thefinance charges upon availability
which is usually deducted from or added-on to the total credit amount.
On the other hand, interest that is charged on borrowed funds is applied,
depending on the preference of the creditor. It can either be applied
on top of the total borrowed amount, as a percentage discounted from credit
amount prior to availability or appropriated to balances on a diminishing
manner at rates calculated on a per annum basis.
Other relevant charges maybe levied should the borrower decide to do
one of the following: re-avail of credit, roll over existing balance or
extend the payment term. Payment terms come as short as less than two
weeks for discounted checks, short term of up to a period of one year
and medium or long term for credit lines that extend to more than a year.
Creditors are required to disclose to the borrower all pertinent terms
and conditions as mandated by the Truth in Lending Act.