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The fees charged for a cash advance are typically a percentage of amount loaned. Lenders are required to provide a truth in lending disclosure that shows full cost of loan.
You can apply and receive loans as often as you need to as long as your previous loan has been paid off.
The term of cash advance loan usually ranges from about one to two weeks, with time extensions available, but more fees are charged for each extension.
If you do not have funds available to repay cash advance loan on due date, you should contact lending company as soon as possible and make arrangements for an extension. However, this can be costly with additional fees and interest charges applied.
While fees can be high, they can be less than alternative expenses, such as, late charges for utility reconnection, rent penalties, or bounced checks.
If you decide to use a cash advance, just remember that it is only a short term loan, and any extensions can be very expensive.
Borrow only as much as you will be able to repay with your next paycheck and still have enough money to live on until following payday.
You may freely reprint this article provided following author's biography remains intact, including live URL link:
John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans.co.uk website.