Just one single minute of your time is required to apply for a direct cash advance and find the right money lender to get a low cost cash advance.
It is easy and convenient to apply online and choose from the various options available. When making a selection from the many companies listed, compare their terms and condition for lending and the fees that they charge. Most of the states have formulated some regulations which the lenders are bound to follow. Read the regulations for your state before borrowing. An aware borrower cannot be cheated.
Few lenders like the Native Americans and foreign companies do not come under the jurisdiction of the state government. They determine their own terms and conditions which maybe against the state law as they are not bound by the same and cannot be produced in court. These companies who are not genuine will promise unbelievably higher loans and lower fees. They will not disclose the complete fee information as well. Beware!
Must know information about online cash advance:
- There is no fees for making an online application
- Look for a company that is regulated by the State laws. CastFast makes sure that your loan amount is affordable. They calculate the amount by dividing the nett income by eight and advise you to take that loan which can be easily paid off
- Provide all correct information and recheck the same. The lender will check this information for its correctness.Once the information is verified, loan is approved very quickly
- Do fax or email the bank statement for Decision Logic to get your loan approved faster. The bank statement provides all the require information to the lender as you do not have any credit rating nor is there a credit check conducted by the lender
- Most companies call up personally and inform the borrower that the loan has been approved though an email notification regarding your loan approval status is always sent
- On approval of the loan, the borrower has to pick a date on which he/she will make the repayment of the loan. This is usually two weeks from the date of borrowing. It is advisable to pick a date that is close to payday so you get enough time to budget your finances for that fortnight and pay back on time. The lender company is also assured of repayment as the date chosen is around payday. The borrower has to repay the fees, loan amount and if there is delay in payment then additional fees is charged which has to be paid
- Avoid defaulting in loan repayment as this gives you a negative credit rating and may result in declining of the loan the next time you apply for it
Cash advance is one of the easiest options available to get loans easily in case of an emergency. The money is transferred into your account quickly and it has to be paid off quickly too by the next payday. If you delay repayment of this cash advance, there is an additional fee that is charged. This upsets your budget and the burden to payback becomes a task. Analyze your income, budget your expenses for that period and borrow only what you can realistically payback on time.
As the economy in America is still not good, most families are in tight financial corners to even meet the basic necessities. Payday loan lenders are aware of this situation and of the near impossibility for families to save for college tuitions. To pursue higher studies loans and grants have become a necessity for most people. Stafford loans rules have undergone a change but do not benefit the college student.
Government gives loans directly to students for higher studies with the condition that the student will repay the loan within six months on completion of graduation. These government loans are called Stafford loans. These loans maybe subsidized wherein the government pays interest on the loans till the student begins payback. If the loan is unsubsidized then the student is liable to pay the interest as well. Student loans borrowed before July 1st 2012 is subsidized but those borrowed after that, the student will have to pay the interest along with the principle amount.
Changes For Stafford Loans:
- The interest rate on subsidized loans has gone up from 3.4% to 6.8%
- Students who received the loan after July 1st 2012 till June 30th 2014 will have to pay interest for the six months period after their graduation when they begin to repay the loan
- The fee rebate of 0.5% is no longer effective
- Loans for graduates/professional school are unsubsidized and the student is liable to pay the interest
These changes have been brought into effect for Stafford loans only. The other loans options available are:
- For graduate and undergraduates- Perkins
- Undergraduate students parents can avail loans from- PLUS
- Graduates and professional school students avail loans from- GradPlus
Changes in the Stafford loans could create problems for parents or students. These changes affect the business of payday loan lenders hence they closely watch the changes on students’ loans. The students usually do not find high paying jobs after graduation so as to start paying off the borrowing within six months. Payday loan money lenders provide relief by offering fast cash in that situation. Graduates who have started working but are yet to get their first paycheck also use the services of these payday lenders.
Everyone does not have friends or family to help for tiding over the tight financial situation. With a new job, the need for a new apartment may arise. This is an additional expense. Most students look out for other options to borrow the money and get over the situation. Find an option that does not burden the pockets of you or your family and makes it possible to achieve your goal as well.
Statistics show that women between the ages of 25 and 44 are the most likely to utilize payday loan services. Of course, this age demographic happens to cover women between the ages of 25 and 29, the highest child-bearing age group. The average age for first-time mothers in the United States in 2006 was 25 according to the National Center for Health Statistics. This is a substantial increase from the median age of 21 back in 1970. Women are waiting longer to start families these days due to other factors such as going to college, starting a career or simply a lack of financial stability.
With these statistics in mind, it’s easy to see why so many women in this age group frequent payday loan services. While it may be easy to write this information off with a flip comment about how women aren’t good with money, the truth is that there are way too many socio-economic factors one needs to consider before making such a gross generalization.
In our modern society, women have to fulfill a number of roles. Women are employees, employers, friends and students in addition to husbands, homemakers and mothers. With these responsibilities come added expenses, many of which can come up unexpectedly and cannot be ignored. A woman with no children might be able to hold off on buying a pair of shoes that she wants, but a mother cannot ignore a child whose clothes are too small. Children grow quickly, so a mother might have to take out a loan or borrow money from someone if she finds herself without the funds to care for her children.
Raising children can be particularly expensive and stressful for single mothers. In a divorce, the biological mother of a child is more likely to be granted custody than the father, especially if that child is still under the age of five. This adds to a mother’s expenses, making female divorcees much more likely to seek out payday loans.
Single mothers are five times more likely than the rest of the population to live in poverty. These women are often the sole providers for their families in every sense of the word. Not only is a single mother often the sole financial provider for her family, but she is the sole emotional and physical provider as well. That’s more stress than anybody should be expected to handle, yet single mothers must do this all the time.
For a single mother on a limited income, a payday loan is the lesser of two evils; it’s better to be in debt for a period of time than let a child go hungry. It’s by no means an ideal situation, but reality is far from ideal much of the time. The unfortunate truth about the world today is that the shaky economy has forced mothers and many other people to take out payday loans just to make ends meet, and it’s unfair to judge anybody as irresponsible for needing such loans to survive and provide for their families. Being a parent, let alone a single mother, is one of the most difficult jobs that someone can have.
It’s expensive and draining for the most financially stable members of society. Nobody really likes having to resort to payday loans, but these loans are a must for many people due to several unfortunate socio-economic factors beyond their control. Instead of passing judgment on these people and writing them off as financially irresponsible, people should take a look at why so many mothers live in poverty and do what they can to help them and spread awareness.