Finance: Payday Loans: Personal Finance Savior Or Disaster?

Payday Loans: Personal Finance Savior Or Disaster?

Written by Joel Walsh

Summary: You need a small amount of financial help fast, but you heard payday loans can be expensive and dangerous. What now? Find out how to avoid repparttar

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benefits of payday loans.

Payday loans may be right for you if you need some money for a short time and have no other option. Car repairs, medical emergencies and other unexpected expenses can really strain your finances. Some weeks last longer than your wages do. So you simply borrow enough to tide you over until your next payday.

There are two kinds of payday loans:

1) online payday loans

2) in-person cash advances.

Both kinds of payday loans are convenient, quick, private and easy.

• Convenient: You can apply for an online payday loan using your computer. You don’t have to deal personally with a loan officer when you apply for or request an extension for your payday online loan.

• Quick: The online payday loan takes only a short time to complete and usually doesn’t require any other documentation. Web payday loans are approved in minutes--virtually “guaranteed loan approval.” The cash could be in your bank account within a day.

• Private: You apply for an online payday loan at home. No bumping into nosy neighbors while waiting in line at repparttar 151180 bank!

• Easy: There are few online payday loan application requirements. The loan amounts are smaller than conventional bank loans so repparttar 151181 paperwork is less. Generally, you just need to be at least 18 years old, have a job (so you have a payday) and earn at least $1000 a month.

Note: a payday cash advance loan is a little different from repparttar 151182 online loan. All you do is give repparttar 151183 lender a post-dated check or some personal information like a credit card number and you get your cash advance on repparttar 151184 spot. When you repay repparttar 151185 loan on payday, you get your check back. Of course, it lacks repparttar 151186 convenience and privacy of applying online.

Avoiding Payday Loan Dangers

So, what about your friends’ warnings? Yes, payday loans can be quite expensive. Interest rates are high--sometimes as high as 700% a year! You may also be charged other fees. But you can get around these by following repparttar 151187 advice below. A little headwork can save a lot of headache.

• Trust only payday loan lenders with good reputations. Remember, you’re giving them personal financial information like credit card or checking account numbers so you want to deal with honest people. On repparttar 151188 lender’s website, look for repparttar 151189 BBB (Better Business Bureau) logo.

• Make sure you check repparttar 151190 annual percent rate (legally, you must be told this) and shop for repparttar 151191 best rate. If you didn't think payday loans could be expensive before, this APR might be an eye-opener, especially when you remember that credit card usually offer 7%-27% APR.

Independent Financial Advisors

Written by Dan Noyes

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knowledge and a good track record; most of all, a person you are comfortable with. Credentials can often be confusing and hence you need help in choosing your financial advisor. Now, at paladinregistry.com , find independent financial advisors, both for individual investors and business firms.

Paladinregistry.com helps you select repparttar 151182 right advisors, as both, investors and independent financial advisors register at this website. It matches investors with advisors and provides useful information regarding repparttar 151183 advisor. With this information, you can screen and select competent and trustworthy professionals. These independent financial advisors are specialized in various financial faculties. You can find advisors for developing your financial, retirement, estate or tax plan for your secure financial future. If it is investments in various sectors that you are looking for, find your assets manager at www.paladinregistry.com, which will make investment decisions for you, to get you optimum returns. Whether it is for a limited engagement project or a long-term relationship, find financial advisors for your every need.

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