Pay Day Loans: A Tutorial
I checked my e-mail for the first time in about a week, and I had TWO messages asking for me to post again talking about my experiences with Payday Loans. So, this post goes out to you two & anyone else who is still curious about what exactly these sort of services entail.
Honestly, I think the easiest way for me to explain is by walking you through how to get one in the first place - and the first step is to find a reputable lender, for example this Payday Loans website. Once you’ve thoroughly read their website and gone over their terms carefully, fill out their online application. Make sure you also check out your individual state’s laws about these kinds of services (they can be found here, at the State Licensed Cash Advances info page). The nice thing about this website in particular is that you can apply 24/7 - so if you realize that you’re about to be broke at 11PM on a Sunday night, you can still put your application through right then & there.
You’ll receive an answer within a few moments, and since your credit score isn’t a factor, even if you’ve got debt/bad credit you CAN still use these services & get approved. You’ll be told how much money they can lend you (basically, they won’t lend you more than you can pay back realistically), and once you accept the deal (ie, you pay the money back within a certain time frame with a certain amount of interest on top) your money will show up in your bank account within a day or two via direct deposit.
Paying back the money that you’ve borrowed is pretty simple - you can pay it either via direct deposit (have it taken out automatically on your next pay day) or online through their website. In my experience, their customer service department is really friendly and helpful, so if you end up needing an extension or more money, don’t be afraid to ask - these companies basically exist to help you, after all. Just stay honest with them and don’t borrow more than you can afford in the long run, and these types of services can be a really great way to help dig yourself out of a temporary financial hole.
Hope that helped - if anyone has any more questions, feel free to comment & I’ll respond ASAP!
