Saturday, December 26, 2009

Paycheck Cash Advance, How They Work And Benefits To You

By Sam Patrolio

You can take a small paycheck cash advance to help cover the unexpected things that pop up in everyone's life. This can allow you to quickly and easily get cash in hand when you need it.

You can apply online, in person or over the phone. Many choose to do this online at one of the sites or at their neighborhood check cashing place for the ease and convenience. The first time you get a loan; you can get up to $300, and afterward may qualify to borrow up to $1000.

There are a few requirements that are fairly standard everywhere you go. You must have a checking account, a job and a phone and be able to pay the loan back on the schedule that you choose when you apply. Some companies will even loan to people that are self employed.

The first time, you typically have to repay it in one lump sum, but you may be able to stretch it out over 2 pay cycles. If you do a loan in person at a store, you can expect to write a post dated check for the loan plus the 15 to 30% fees. You will get the loan amount and you are expected to come back and pay the loan off in cash on your payday, and they will give you the check back. If you fail to repay it, they can remit the check, although this will hurt your standings with them.

If you want to do the process online, you will fill out a form and then have to fax in supporting documentation like social Security number and photo identification in once you are done. Some companies will call you as part of the process and may not require a fax at all. One approved, they will electronically deposit the funds and remove them when the payment date is due the same way.

They can help you take care of emergencies, car repairs, bill payment or if you need cash for any reason. Some places do ask for the reason why you need the loan, but you can get one for any reason at all.

Paycheck cash advances can help give you a buffer from financial ruin and are easy to obtain. They can get you the cash you really need in about a day, and can help you get on with your life and offer you a way to worry less. - 30719

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